John Hancock Investment Grade Bond Fund. Quarterly Portfolio Holdings

Transcription

1 Quarterly Portfolio Holdings

2 U.S. Government & Agency Obligations 37.03% $56,864,348 (Cost $56,848,521) U.S. Government 8.75% 13,440,333 U.S. Treasury Bond /15/40 $4,455,000 4,272,621 Bond /15/40 185, ,330 Note /15/13 1,195,000 1,184,544 Note /30/15 2,745,000 2,660,934 Note /31/16 2,620,000 2,607,717 Note /15/21 2,490,000 2,533,187 U.S. Government Agency 28.28% 43,424,015 Federal Home Loan Mortgage Corp. 30 Yr Pass Thru Ctf /01/40 966, , Yr Pass Thru Ctf /01/40 2,419,203 2,384, Yr Pass Thru Ctf /01/37 42,943 47, Yr Pass Thru Ctf /01/37 82,178 91, Yr Pass Thru Ctf /01/37 158, , Yr Pass Thru Ctf /01/37 75,230 83, Yr Pass Thru Ctf /01/37 50,625 56, Yr Pass Thru Ctf /01/38 31,493 35, Yr Pass Thru Ctf /01/38 155, , Yr Pass Thru Ctf /01/38 90, , Yr Pass Thru Ctf /01/39 1,308,861 1,458, Yr Pass Thru Ctf /01/39 1,473,658 1,642, Yr Pass Thru Ctf /01/39 134, ,301 Federal National Mortgage Association 15 Yr Pass Thru Ctf /01/24 457, , Yr Pass Thru Ctf /01/24 2,535,994 2,609, Yr Pass Thru Ctf /01/24 2,442,719 2,513, Yr Pass Thru Ctf /01/26 1,515,000 1,588, Yr Pass Thru Cft /01/33 1,269,359 1,337, Yr Pass Thru Ctf /01/40 3,804,850 3,760, Yr Pass Thru Ctf /01/40 2,738,122 2,868, Yr Pass Thru Ctf /01/34 2,658,396 2,858, Yr Pass Thru Ctf /01/36 3,167,908 3,404, Yr Pass Thru Ctf /01/36 4,190,663 4,493, Yr Pass Thru Ctf (P) /01/14 1,177 1, Yr Pass Thru Ctf (P) /01/14 6,763 7, Yr Pass Thru Ctf /01/36 378, , Yr Pass Thru Ctf /01/37 564, , Yr Pass Thru Ctf /01/39 3,348,177 3,732, Yr Pass Thru Ctf /01/39 138, , Yr Pass Thru Ctf /01/39 953,118 1,066,684 Government National Mortgage Association 15 Yr Pass Thru Ctf /15/13 5,431 5, Yr Pass Thru Ctf /15/39 1,885,675 1,951, Yr Pass Thru Ctf /15/39 937, , Yr Pass Thru Ctf /15/39 1,178,861 1,219,757 1

3 Corporate Bonds 37.42% $57,453,112 (Cost $53,298,259) Consumer Discretionary 2.67% 4,104,716 Auto Components 0.16% BorgWarner, Inc /01/16 $230, ,135 Auto Manufacturers 0.25% Volvo Treasury AB(S) /01/15 350, ,409 Automobiles 0.31% Hyundai Capital Services, Inc.(S) /05/15 270, ,082 Hyundai Capital Services, Inc.(S) /27/16 185, ,806 Hotels, Restaurants & Leisure 0.20% Seminole Indian Tribe of Florida(S) /01/20 315, ,281 Internet & Catalog Retail 0.22% Expedia, Inc /15/20 335, ,769 Media 1.53% CBS Corp /30/30 240, ,891 CBS Corp /15/40 165, ,389 DIRECTV Holdings LLC /15/40 165, ,286 Grupo Televisa SA /15/40 205, ,058 News America Holdings, Inc /15/24 600, ,685 News America, Inc.(S) /15/41 165, ,716 Time Warner Cable, Inc /01/18 330, ,814 United Business Media, Ltd.(S) /03/20 180, ,395 Consumer Staples 1.34% 2,059,644 Beverages 0.04% PepsiCo, Inc /01/18 49,000 62,119 Food & Staples Retailing 0.36% CVS Caremark Corp. (6.302% to 06/01/2012, then 3 month LIBOR %) /01/37 560, ,600 Food Products 0.37% Bunge Ltd. Finance Corp /15/19 205, ,383 Bunge Ltd. Finance Corp /15/14 310, ,695 Tobacco 0.57% Lorillard Tobacco Company /01/20 370, ,294 Philip Morris International, Inc /16/18 440, ,553 Energy 2.98% 4,576,753 Gas Utilities 0.23% DCP Midstream LLC(S) /15/19 275, ,927 Oil, Gas & Consumable Fuels 2.75% Anadarko Petroleum Corp /15/17 330, ,816 Energy Transfer Partners LP /15/19 215, ,233 Enterprise Products Operating LLC /15/18 565, ,299 Enterprise Products Operating LLC /31/19 475, ,021 Kerr-McGee Corp /01/24 215, ,904 Kinder Morgan Energy Partners LP /15/32 115, ,838 Marathon Petroleum Corp.(S) /01/41 170, ,226 Motiva Enterprises LLC(S) /15/40 165, ,181 2

4 Energy (continued) NuStar Logistics LP /15/18 $305,000 $355,690 NuStar Logistics LP /01/20 150, ,426 Spectra Energy Capital LLC /15/18 185, ,988 TransCanada Pipelines, Ltd. (6.350% to 05/15/2017, then 3 month LIBOR %) /15/67 295, ,836 Williams Partners LP /01/17 545, ,368 Financials 21.29% 32,685,213 Capital Markets 2.33% Credit Suisse AG/Guernsey (3 month LIBOR % to 05/29/17, then 3 month LIBOR %) (Q) 350, ,326 Credit Suisse New York /13/19 260, ,878 Credit Suisse New York /05/20 390, ,835 Jefferies Group, Inc /15/19 105, ,184 Jefferies Group, Inc /15/21 530, ,120 Macquarie Group, Ltd.(S) /01/14 170, ,644 Macquarie Group, Ltd.(S) /14/20 225, ,166 Morgan Stanley /13/19 315, ,734 The Goldman Sachs Group, Inc /01/37 605, ,098 The Goldman Sachs Group, Inc /01/18 520, ,649 Commercial Banks 3.75% Australia & New Zealand Banking Group, Ltd.(S) /12/21 330, ,591 Barclays Bank PLC /14/20 205, ,572 BNP Paribas /15/21 260, ,146 BPCE SA (12.500% to 09/30/2019, then 3 month LIBOR %)(S) (Q) 157, ,711 Chuo Mitsui Trust & Banking Company, Ltd. (5.506% to 04/15/2015, then 3 month LIBOR %)(S) (Q) 370, ,400 Commonwealth Bank of Australia(S) /19/20 320, ,787 First Tennessee Bank NA /15/15 245, ,638 Huntington Bancshares, Inc /15/20 55,000 60,206 ICICI Bank, Ltd.(S) /16/20 305, ,825 Lloyds TSB Bank PLC /21/21 270, ,316 National City Bank(P) /07/17 400, ,432 Regions Financial Corp /10/14 290, ,575 Regions Financial Corp.(P) /26/12 170, ,828 Santander Issuances SA (6.500% to 11/15/2014, then 3 month LIBOR %)(S) /11/19 300, ,850 Silicon Valley Bank /01/17 295, ,288 State Bank of India/London(S) /27/15 230, ,171 The Royal Bank of Scotland Group PLC /16/15 200, ,343 Wachovia Bank NA /15/38 445, ,527 Wachovia Bank NA /01/37 235, ,713 Wells Fargo & Company /15/16 225, ,889 Wells Fargo Bank NA /16/16 300, ,624 Consumer Finance 1.03% American Express Company /19/18 385, ,080 Capital One Financial Corp /01/16 415, ,051 Discover Bank /15/20 180, ,511 Discover Financial Services /15/19 375, ,533 Diversified Financial Services 7.15% Bank of America Corp /01/16 200, ,466 Bank of America Corp /01/18 400, ,686 3

5 Financials (continued) Bank of America NA /15/36 $250,000 $243,916 Bank of America NA /15/17 95,000 99,003 Beaver Valley Funding /01/17 708, ,601 Citigroup, Inc /12/14 510, ,042 Citigroup, Inc /21/17 450, ,429 Citigroup, Inc /11/34 215, ,036 Crown Castle Towers LLC(S) /15/20 250, ,434 Crown Castle Towers LLC(S) /15/20 530, ,403 ERAC USA Finance LLC(S) /15/17 220, ,062 General Electric Capital Corp /07/19 245, ,720 General Electric Capital Corp /01/18 510, ,615 General Electric Capital Corp /11/21 135, ,582 General Electric Capital Corp.(P) /15/36 360, ,718 GTP Towers Issuer LLC(S) /15/15 305, ,321 Harley-Davidson Funding Corp.(S) /15/18 170, ,460 Harley-Davidson Funding Corp.(S) /15/14 165, ,546 International Lease Finance Corp.(S) /01/18 220, ,075 JPMorgan Chase & Company /15/18 510, ,257 JPMorgan Chase & Company /20/15 175, ,119 JPMorgan Chase & Company, Series 1 (7.900% to 04/30/2018, then 3 month LIBOR %) (Q) 390, ,519 Merrill Lynch & Company, Inc /14/38 555, ,772 Merrill Lynch & Company, Inc /25/18 510, ,703 Rabobank Nederland NV (11.000% to 06/30/2019, then 3 month LIBOR %)(S) (Q) 904,000 1,175,200 The Bear Stearns Companies LLC /01/18 435, ,506 USB Realty Corp. (6.091% to 01/15/2012, then 3 month LIBOR %)(S) (Q) 300, ,125 Woodside Finance, Ltd.(S) /10/14 385, ,871 Insurance 3.72% Aflac, Inc /15/19 250, ,210 Aflac, Inc /17/39 145, ,741 AON Corp /01/27 85,000 95,043 AXA SA (6.379% to 12/13/2036, then 3 month LIBOR %)(S) (Q) 155, ,469 Chubb Corp. (6.375% until 04/15/2017, then 3 month LIBOR %) /29/67 200, ,500 CNA Financial Corp /15/23 325, ,890 CNA Financial Corp /15/16 165, ,745 Hartford Financial Services Group, Inc /30/40 135, ,071 Hartford Financial Services Group, Inc /15/18 280, ,900 Liberty Mutual Group, Inc.(S) /15/36 520, ,360 Lincoln National Corp /01/19 220, ,979 Lincoln National Corp /15/40 100, ,465 Lincoln National Corp. (6.050% to 04/20/17, then 3 month LIBOR %) /20/67 325, ,798 Massachusetts Mutual Life Insurance Company(S) /01/39 135, ,708 MetLife, Inc /01/39 100, ,250 New York Life Insurance Company(S) /15/39 215, ,231 Prudential Financial, Inc /15/40 235, ,563 Teachers Insurance & Annuity Association of America(S) /16/39 385, ,002 Unum Group /30/16 275, ,636 UnumProvident Finance Company PLC(S) /15/15 380, ,523 W.R. Berkley Corp /15/15 230, ,085 4

6 Financials (continued) Willis North America, Inc /29/19 $305,000 $334,407 Real Estate Investment Trusts 3.31% BioMed Realty LP /15/20 80,000 84,925 Brandywine Operating Partnership LP /15/15 220, ,056 CommonWealth REIT /15/18 280, ,546 Dexus Property Group(S) /15/14 310, ,588 Duke Realty LP /15/19 195, ,951 Duke Realty LP /15/20 305, ,693 HCP, Inc /15/16 215, ,716 HCP, Inc /01/21 430, ,178 Health Care REIT, Inc /01/16 245, ,556 Health Care REIT, Inc /15/21 260, ,918 Healthcare Realty Trust, Inc /17/17 345, ,998 Mack-Cali Realty LP /15/19 230, ,314 Post Apartment Homes LP /15/17 115, ,259 ProLogis /15/18 515, ,542 Simon Property Group LP /01/19 230, ,745 Vornado Realty LP /01/15 440, ,740 WEA Finance LLC/WT Finance Australia Pty, Ltd.(S) /02/19 185, ,484 Health Care 0.91% 1,392,537 Health Care Providers & Services 0.30% Medco Health Solutions, Inc /15/18 385, ,868 Life Sciences Tools & Services 0.09% Bio-Rad Laboratories, Inc /15/20 140, ,900 Pharmaceuticals 0.52% Hospira, Inc /30/17 320, ,448 Schering-Plough Corp /15/17 385, ,321 Industrials 2.42% 3,715,690 Aerospace & Defense 0.17% Embraer Overseas, Ltd /15/20 240, ,200 Airlines 1.13% Continental Airlines, Inc /15/17 106, ,852 Continental Airlines, Inc /02/19 124, ,819 Continental Airlines, Inc /19/22 318, ,854 Delta Air Lines, Inc /10/22 400, ,314 Delta Air Lines, Inc /02/18 158, ,219 Northwest Airlines, Inc /01/19 199, ,790 Northwest Airlines, Inc /20/21 352, ,616 Building Materials 0.39% Voto-Votorantim Overseas Trading Operations NV(S) /25/19 285, ,113 Voto-Votorantim, Ltd.(S) /05/21 285, ,250 Industrial Conglomerates 0.23% Textron, Inc /01/17 340, ,710 Trading Companies & Distributors 0.27% GATX Corp /15/14 365, ,782 Transportation Infrastructure 0.23% Asciano Finance, Ltd.(S) /23/20 375, ,171 5

7 Information Technology 0.18% $273,794 IT Services 0.18% Fiserv, Inc /20/17 $245, ,794 Materials 2.26% 3,465,337 Chemicals 0.15% Incitec Pivot Finance LLC(S) /10/19 215, ,385 Metals & Mining 1.61% Allegheny Technologies, Inc /01/19 185, ,863 Allegheny Technologies, Inc /15/21 90,000 95,150 ArcelorMittal /01/19 240, ,457 ArcelorMittal /01/41 165, ,640 Gerdau Trade, Inc.(S) /30/21 240, ,000 Rio Tinto Alcan, Inc /15/33 285, ,566 Teck Resources, Ltd /15/19 695, ,369 Vale Overseas, Ltd /10/39 220, ,280 Paper & Forest Products 0.50% International Paper Company /15/19 255, ,475 International Paper Company /15/18 360, ,152 Telecommunication Services 1.21% 1,856,785 Diversified Telecommunication Services 0.85% BellSouth Corp /15/34 250, ,230 BellSouth Telecommunications, Inc /15/15 279, ,111 Telecom Italia Capital SA /18/14 690, ,405 Wireless Telecommunication Services 0.36% America Movil SAB de CV /30/20 255, ,909 SBA Tower Trust(S) /15/17 280, ,130 Utilities 2.16% 3,322,643 Electric Utilities 1.47% Commonwealth Edison Company /15/18 330, ,853 FirstEnergy Solutions Corp /15/15 270, ,031 FPL Energy National Wind LLC(S) /10/24 175, ,420 Israel Electric Corp., Ltd.(S) /15/19 200, ,412 ITC Holdings Corp.(S) /15/20 285, ,874 KCP&L Greater Missouri Operations Company /01/12 320, ,742 PNPP II Funding Corp /30/16 129, ,913 Teco Finance, Inc /01/17 200, ,892 Waterford 3 Funding Corp /02/17 201, ,651 Independent Power Producers & Energy Traders 0.31% Allegheny Energy Supply Company LLC(S) /15/19 305, ,993 Exelon Generation Company LLC /01/39 165, ,968 Multi-Utilities 0.38% Integrys Energy Group, Inc. (6.110% to 12/01/2016, then 3 month LIBOR %) /01/66 395, ,138 Wisconsin Energy Corp. (6.250% to 05/15/2017, then 3 month LIBOR %) /15/67 195, ,756 6

8 Convertible Bonds 0.62% $956,719 (Cost $375,000) Industrials 0.62% 956,719 Machinery 0.62% Ingersoll-Rand Company, Ltd /15/12 $375, ,719 Municipal Bonds 0.99% $1,524,689 (Cost $1,646,373) California 0.10% 157,529 State of California /01/40 145, ,529 Texas 0.89% 1,367,160 University Of Texas /15/46 1,500,000 1,367,160 Collateralized Mortgage Obligations 16.69% $25,618,282 (Cost $26,975,064) Commercial & Residential 14.65% 22,483,241 American Tower Trust Series A, Class C (S) /15/37 450, ,438 Series A, Class D (S) /15/37 420, ,818 Banc of America Commercial Mortgage, Inc. Series , Class A5A /10/45 1,500,000 1,594,153 Series , Class AM (P) /10/45 355, ,644 Series , Class AM /10/46 355, ,777 Series , Class A4 (P) /10/44 825, ,677 Bear Stearns Commercial Mortgage Securities, Inc. Series 2006-PW14, Class D (S) /11/38 320, ,588 Citigroup/Deutsche Bank Commercial Mortgage Trust Series 2005-CD1, Class C (P) /15/44 185, ,303 Commercial Mortgage Pass Through Certificates Series 2007-C9, Class A4 (P) /10/49 820, ,841 Countrywide Alternative Loan Trust Series 2006-OA12, Class X IO /20/46 6,565, ,642 First Horizon Alternative Mortgage Securities Series 2004-AA5, Class B1 (P) /25/34 756,024 72,457 GMAC Mortgage Corp Loan Trust Series 2004-AR2, Class 3A (P) /19/34 571, ,726 Greenwich Capital Commercial Funding Corp. Series 2006-GG7, Class AM (P) /10/38 355, ,553 Series 2007-GG9, Class C (P) /10/39 230, ,425 Series 2007-GG9, Class A /10/39 735, ,207 GSR Mortgage Loan Trust Series 2005-AR6, Class 3A1 (P) /25/35 531, ,595 Series , Class B1 (P) /25/34 299, ,048 Series 2006-AR1, Class 3A1 (P) /25/36 611, ,810 Harborview Mortgage Loan Trust Series , Class X IO /19/45 2,058,801 94,536 Series , Class X IO /19/35 10,202, ,233 Series , Class 1X IO /19/35 2,629, ,581 7

9 Commercial & Residential (continued) IndyMac Index Mortgage Loan Trust Series 2004-AR13, Class B /25/35 $205,935 $24,739 Series 2005-AR18, Class 1X IO /25/36 5,367, ,528 Series 2005-AR18, Class 2X IO /25/36 7,093, ,193 Series 2005-AR5, Class B1 (P) /25/35 277,408 5,867 JPMorgan Chase Commercial Mortgage Securities Corp. Series 2006-LDP7, Class AM (P) /15/45 515, ,273 Series 2007-CB18, Class A /12/47 725, ,444 Series 2005-LDP3, Class A4B (P) /15/42 1,000,000 1,045,350 Series 2005-LDP4, Class B (P) /15/42 1,000, ,742 JPMorgan Mortgage Trust Series 2006-A7, Class 2A5 (P) /25/37 295,968 25,828 LB-UBS Commercial Mortgage Trust Series 2006-C6, Class AM /15/39 765, ,882 Series 2006-C4, Class A4 (P) /15/38 620, ,035 Series 2007-C2, Class A /15/40 770, ,743 Merrill Lynch/Countrywide Commercial Mortgage Trust Series , Class A4 (P) /12/46 735, ,309 MLCC Mortgage Investors, Inc. Series , Class 2A1 (P) /25/36 583, ,551 Series , Class M1 (P) /25/37 153,412 87,951 Series , Class M2 (P) /25/37 59,005 29,358 Series , Class M3 (P) /25/37 39,337 17,596 Morgan Stanley Capital I Series 2007-IQ13, Class A /15/44 730, ,986 Series 2008-HQ8, Class AM (P) /12/44 705, ,657 Provident Funding Mortgage Loan Trust Series , Class B1 (P) /25/35 200,189 46,448 Structured Asset Securities Corp. Series A, Class B1 (P) /25/33 250, ,841 Thornburg Mortgage Securities Trust Series , Class II2A (P) /25/44 576, ,667 WaMu Mortgage Pass Through Certificates Series 2004-AR13, Class X IO /25/34 8,092, ,764 Series 2005-AR1, Class X IO /25/45 12,332, ,507 Series 2005-AR12, Class 1A2 (P) /25/35 217, ,698 Series 2005-AR19, Class B1 (P) /25/45 287,640 37,331 Series 2005-AR4, Class B1 (P) /25/35 935, ,278 Series 2005-AR8, Class X IO /25/45 10,387, ,713 Series 2006-AR4, Class 1A1B (P) /25/46 288, ,998 Series 2005-AR13, Class B1 (P) /25/45 495,588 87,214 Series 2005-AR6, Class B1 (P) /25/45 555,803 92,951 Wells Fargo Mortgage Backed Securities Trust Series 2005-AR5, Class 1A1 (P) /25/35 424, ,458 Series 2006-AR15, Class A3 (P) /25/36 361, ,289 U.S. Government Agency 2.04% 3,135,041 Federal Home Loan Mortgage Corp. Series 3581, Class IO /15/39 469,979 89,434 Series 3623, Class LI IO /15/25 462,146 51,330 Series 3630, Class BI IO /15/27 299,572 33,539 Series 3794, Class PI IO /15/38 762, ,772 Federal National Mortgage Association Series , Class IW IO /25/38 696, ,677 8

10 U.S. Government Agency (continued) Series , Class GI IO /25/39 $1,162,481 $185,047 Series , Class IB IO /25/39 1,680, ,151 Series , Class AI IO /25/27 883,141 98,124 Series , Class LI IO /25/25 6,181, ,223 Series , Class BI IO /25/28 893, ,703 Series , Class CI IO /25/38 952, ,190 Series 398, Class C3 IO /25/39 930, ,141 Series 401, Class C2 IO /25/39 624, ,503 Series 402, Class 3 IO /25/39 700, ,995 Series 402, Class 4 IO /25/39 1,231, ,970 Series 402, Class 7 IO /25/39 1,165, ,818 Government National Mortgage Association Series , Class AI IO /20/39 1,246, ,424 Asset Backed Securities 3.68% $5,652,728 (Cost $5,631,675) Asset Backed Securities 3.68% 5,652,728 Aegis Asset Backed Securities Trust Series , Class A1 (P) /25/34 277, ,218 Asset Backed Funding Certificates Series 2005-HE1, Class M1 (P) /25/35 297, ,111 Bayview Financial Acquisition Trust Series 2006-A, Class 2A3 (P) /28/41 292, ,013 Bravo Mortgage Asset Trust Series A, Class A2 (P)(S) /25/36 420, ,322 Carrington Mortgage Loan Trust Series 2006-NC4, Class A5 (P) /25/36 114,695 93,432 Credit-Based Asset Servicing and Securitization LLC Series 2005-CB2, Class M1 (P) /25/36 463, ,408 Dominos Pizza Master Issuer LLC Series , Class A2 (S) /25/37 500, ,000 Hertz Vehicle Financing LLC Series A, Class A2 (S) /25/16 485, ,307 Leaf II Receivables Funding LLC Series , Class A (S) /20/18 352, ,460 Merrill Lynch Mortgage Investors, Inc. Series 2005-HE2, Class A2C (P) /25/36 415, ,825 New Century Home Equity Loan Trust Series , Class M1 (P) /25/35 240, ,552 Novastar Home Equity Loan Series , Class M3 (P) /25/35 480, ,804 Park Place Securities, Inc. Series 2004-WHQ2, Class M2 (P) /25/35 380, ,148 Series 2005-WCH1, Class M2 (P) /25/36 535, ,038 Renaissance Home Equity Loan Trust Series , Class AF /25/35 84,589 84,377 Series , Class AF /25/35 420, ,306 Residential Asset Securities Corp. Series 2005-KS4, Class M1 (P) /25/35 345, ,407 9

11 Capital Preferred Securities 1.41% $2,161,262 (Cost $2,080,119) Financials 1.41% 2,161,262 Capital Markets 0.53% State Street Capital Trust III (8.250% to 03/15/2011, then 3 month LIBOR %) (Q) 335, ,714 State Street Capital Trust IV(P) /15/37 595, ,656 Commercial Banks 0.79% Allfirst Preferred Capital Trust(P) /15/29 205, ,016 Fifth Third Capital Trust IV (6.500% to 04/15/2017 then 3 month LIBOR %) /15/37 495, ,625 PNC Preferred Funding Trust III (8.700% to 03/15/2013 then 3 month LIBOR %)(S) (Q) 530, ,151 Insurance 0.09% Metlife Capital Trust X (9.250% to 04/08/2038 then 3 month LIBOR %)(S) /08/38 110, ,100 Shares Preferred Securities 0.36% $557,611 (Cost $483,925) Energy 0.14% 224,183 Oil, Gas & Consumable Fuels 0.14% Apache Corp., Series D, 6.000% 3, ,183 Financials 0.22% 333,428 Diversified Financial Services 0.22% Bank of America Corp., Series MER, 8.625% 12, ,428 Yield* Short-Term Investments 0.59% $900,000 (Cost $900,000) Short-Term Securities 0.59% 900,000 Federal Home Loan Bank Discount Notes 0.070% 03/01/11 $900, ,000 Total investments (Cost $148,238,936) 98.79% $151,688,751 Other assets and liabilities, net 1.21% $1,857,188 Total net assets % $153,545,939 The percentage shown for each investment category is the total value of that category as a percentage of the net assets of the Fund. All par values are denominated in U.S. Dollars unless otherwise indicated. IO Interest Only Security - Interest Tranche of Stripped Mortgage Pool LIBOR London Interbank Offered Rate (P) Variable rate obligation. The coupon rate shown represents the rate at period end. (Q) Perpetual bonds have no stated maturity. 10

12 (S) 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. Rule 144A securities amounted to $17,227,962 or 11.24% of the Fund's net assets as of February 28, * Yield represents the annualized yield at the of purchase. At February 28, 2011, the aggregate cost of investment securities for federal income tax purposes was $148,501,785. Net unrealized appreciation aggregated $3,186,966, of which $8,355,662 related to appreciated investment securities and $5,168,696 related to depreciated investment securities. 11

13 Notes to the Schedule of Investments (Unaudited) Security valuation. Investments are stated at value as of the close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. 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 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, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the values by input classification of the Fund s investments as of February 28, 2011, by major security category or type: Total Market at Level 1 Quoted Level 2 Significant Observable Level 3 Significant Unobservable Price Inputs Inputs U.S. Government & Agency Obligations $ 56,864,348 $ 56,864,348 Corporate Bonds 57,453,112 57,453,112 Convertible Bonds 956, ,719 Municipal Bonds 1,524,689 1,524,689 Collateralized Mortgage Obligations 25,618,282 25,057,561 $ 560,721 Asset Backed Securities 5,652,728 5,652,728 Capital Preferred Securities 2,161,262 2,161,262 Preferred Securities 557,611 $ 557,611 Short-Term Investments 900, ,000 Total Investments in Securities $ 151,688,751 $ 557,611 $ 150,570,419 $ 560,721 Other Financial Instruments: Futures $ 625 $ 625 Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. During the nine month period ended February 28, 2011, there were no significant transfers in or out of Level 1 or Level 2 assets. The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. Transfers in or out of Level 3 represent the beginning value of any security or instrument where a change in the level has occurred from the beginning to the end of the period.

14 COLLATERALIZED MORTGAGE OBLIGATIONS Balance as of $1,116,442 Realized gain (loss) 268,720 Change in unrealized gain (loss) (231,485) Net purchases (sales) (479,560) Net transfers in and/out of Level 3 (113,396) Balance as of $560,721 Change in unrealized at period end* $79,660 *Change in unrealized appreciation (depreciation) attributable to Level 3 securities held at the period end. In order to value the securities, the Fund uses the following valuation techniques. Equity securities held by the Fund are valued at the last sale price or official closing price on the principal securities exchange on which they trade. In the event there were no sales during the day or closing prices are not available, then securities are valued using the last quoted bid or evaluated price. Debt obligations are valued based on the evaluated prices provided by an independent pricing service, which utilizes both dealer-supplied and electronic data processing techniques, taking 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. Certain securities traded only in the over-the-counter market are valued at the last bid price quoted by brokers making markets in the securities at the close of trading. Certain short-term securities are valued at amortized cost. Other portfolio securities and assets, where 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 Stripped securities. Stripped mortgage backed securities are financial instruments structured to separate principal and interest cash flows so that one class receives the entire principal from the underlying mortgage 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 mortgage backed security. If the underlying mortgage assets experience greater than anticipated prepayments of principal, the Fund may fail to fully receive its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates. In addition, these securities present additional credit risk such that the Fund may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation. Futures. A futures contract is a contractual agreement to buy or sell a particular commodity, currency, or financial instrument at a pre-determined price in the future. Risks related to the use of futures contracts include possible illiquidity of the futures markets, contract prices that can be highly volatile and imperfectly correlated to movements in hedged security values and/or interest rates and potential losses in excess of the Fund s initial investment. Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade. During the nine months ended February 28, 2011, the Fund used futures contracts to mange the duration of the portfolio. The following table summarizes the contracts held at February 28, During the nine months ended February 28, 2011, the Fund held futures contracts with absolute notional values ranging from $2.6 million to $2.7 million, as measured at each quarter end.

15 Open Contracts Number of Contracts Position Expiration Date Notional (USD) Unrealized Appreciation (Depreciation) U.S. Treasury 30-Year Bond Futures 6 Long Jun 2011 $722,062 $6,545 U.S. Treasury 5-Year Note Futures 16 Short Jun 2011 (1,871,000) (5,920) $625 Fair value of derivative instruments by risk category The table below summarizes the fair value of derivatives held by the Fund at February 28, 2011 by risk category: Risk Financial instruments location Asset Derivatives Fair Liability Derivatives Fair Interest rate contracts Futures $6,545 ($5,920) Total $6,545 ($5,920) For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

16 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. Mutual Fund Image Operations 30 Dan Road Canton, MA Phone Customer service representatives EASI-Line TDD line This report is for the information of the shareholders of John Hancock Investment Grade Bond Fund. 550Q3 2/11 4/11