UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811- 04186
John Hancock Income Securities Trust
(Exact name of registrant as specified in charter)
200 Berkeley Street, Boston, Massachusetts 02116 (Address of principal executive offices) (Zip code)
Salvatore Schiavone
Treasurer
200 Berkeley Street
Boston, Massachusetts 02116
(Name and address of agent for service) Registrant's telephone number, including area code: 617-543-9634
Date of fiscal year end: |
October 31 |
Date of reporting period: |
April 30, 2024 |
SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 1 |
2 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 3 |
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government and Agency obligations 76.6% (46.3% of Total investments) | $104,393,775 | ||||
(Cost $108,901,020) | |||||
U.S. Government 17.2% | 23,495,731 | ||||
U.S. Treasury | |||||
Bond (A)(B) | 4.000 | 11-15-42 | 1,154,000 | 1,028,187 | |
Bond (B) | 4.500 | 02-15-44 | 576,000 | 546,840 | |
Bond (A)(B) | 4.750 | 11-15-53 | 1,587,000 | 1,578,817 | |
Note (B) | 3.750 | 04-15-26 | 205,000 | 200,091 | |
Note (A)(B) | 3.875 | 04-30-25 | 3,000,000 | 2,959,980 | |
Note (A)(B) | 4.250 | 09-30-24 | 2,647,000 | 2,634,515 | |
Note (A)(B) | 4.250 | 10-15-25 | 3,300,000 | 3,257,848 | |
Note (B) | 4.250 | 03-15-27 | 102,000 | 100,279 | |
Note (A)(B) | 4.375 | 10-31-24 | 4,000,000 | 3,980,430 | |
Note (B) | 4.375 | 08-15-26 | 268,000 | 264,441 | |
Note | 4.625 | 04-30-29 | 6,958,000 | 6,931,364 | |
Note (B) | 4.625 | 04-30-31 | 13,000 | 12,939 | |
U.S. Government Agency 59.4% | 80,898,044 | ||||
Federal Home Loan Mortgage Corp. | |||||
15 Yr Pass Thru | 4.500 | 01-01-38 | 1,760,420 | 1,703,836 | |
30 Yr Pass Thru | 3.500 | 07-01-46 | 341,263 | 303,629 | |
30 Yr Pass Thru | 3.500 | 10-01-46 | 301,243 | 264,445 | |
30 Yr Pass Thru | 3.500 | 12-01-46 | 131,584 | 116,662 | |
30 Yr Pass Thru | 3.500 | 02-01-47 | 737,763 | 653,176 | |
30 Yr Pass Thru | 3.500 | 11-01-48 | 1,396,668 | 1,236,972 | |
30 Yr Pass Thru (B) | 4.000 | 05-01-52 | 790,449 | 716,521 | |
30 Yr Pass Thru | 4.500 | 07-01-52 | 235,190 | 218,683 | |
30 Yr Pass Thru | 4.500 | 07-01-52 | 2,102,219 | 1,954,679 | |
30 Yr Pass Thru | 4.500 | 08-01-52 | 143,489 | 133,688 | |
30 Yr Pass Thru (B) | 4.500 | 08-01-52 | 692,047 | 644,126 | |
30 Yr Pass Thru (B) | 4.500 | 08-01-52 | 573,588 | 533,869 | |
30 Yr Pass Thru (B) | 4.500 | 09-01-52 | 358,655 | 333,483 | |
30 Yr Pass Thru (B) | 4.500 | 09-01-52 | 403,425 | 375,867 | |
30 Yr Pass Thru | 4.500 | 09-01-52 | 3,498,152 | 3,255,920 | |
30 Yr Pass Thru | 5.000 | 07-01-52 | 1,041,471 | 995,844 | |
30 Yr Pass Thru | 5.000 | 07-01-52 | 956,501 | 914,926 | |
30 Yr Pass Thru | 5.000 | 08-01-52 | 955,847 | 911,125 | |
30 Yr Pass Thru (B) | 5.000 | 10-01-52 | 803,930 | 768,458 | |
30 Yr Pass Thru | 5.000 | 11-01-52 | 1,777,294 | 1,705,541 | |
30 Yr Pass Thru | 5.000 | 12-01-52 | 1,043,608 | 994,952 | |
30 Yr Pass Thru (B) | 5.000 | 02-01-53 | 395,530 | 375,977 | |
30 Yr Pass Thru | 5.000 | 02-01-53 | 1,467,806 | 1,399,373 | |
30 Yr Pass Thru | 5.000 | 05-01-53 | 1,503,908 | 1,435,742 |
4 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government Agency (continued) | |||||
30 Yr Pass Thru | 5.500 | 09-01-52 | 1,004,351 | $983,781 | |
30 Yr Pass Thru | 5.500 | 11-01-52 | 1,980,824 | 1,940,254 | |
30 Yr Pass Thru | 5.500 | 11-01-52 | 2,097,563 | 2,052,636 | |
30 Yr Pass Thru (B) | 5.500 | 02-01-53 | 907,065 | 890,471 | |
30 Yr Pass Thru | 5.500 | 02-01-53 | 913,953 | 894,377 | |
30 Yr Pass Thru (B) | 5.500 | 03-01-53 | 727,557 | 712,656 | |
30 Yr Pass Thru | 5.500 | 04-01-53 | 847,305 | 831,805 | |
30 Yr Pass Thru | 5.500 | 06-01-53 | 959,512 | 936,411 | |
30 Yr Pass Thru | 5.500 | 06-01-53 | 936,314 | 916,259 | |
30 Yr Pass Thru (B) | 5.500 | 06-01-53 | 731,770 | 716,553 | |
30 Yr Pass Thru | 5.500 | 07-01-53 | 1,032,131 | 1,008,089 | |
30 Yr Pass Thru (B) | 5.500 | 07-01-53 | 743,535 | 724,937 | |
30 Yr Pass Thru | 5.500 | 07-01-53 | 728,516 | 712,002 | |
30 Yr Pass Thru | 6.000 | 04-01-53 | 904,081 | 903,794 | |
30 Yr Pass Thru (B) | 6.000 | 08-01-53 | 720,557 | 720,328 | |
30 Yr Pass Thru | 6.000 | 09-01-53 | 952,143 | 951,543 | |
30 Yr Pass Thru (B) | 6.000 | 11-01-53 | 719,712 | 717,966 | |
30 Yr Pass Thru (B) | 6.000 | 11-01-53 | 736,717 | 737,208 | |
30 Yr Pass Thru (B) | 6.500 | 09-01-53 | 763,370 | 776,096 | |
30 Yr Pass Thru (B) | 6.500 | 10-01-53 | 764,062 | 774,544 | |
Federal National Mortgage Association | |||||
30 Yr Pass Thru | 3.500 | 12-01-42 | 981,625 | 889,901 | |
30 Yr Pass Thru | 3.500 | 01-01-43 | 1,070,289 | 971,740 | |
30 Yr Pass Thru | 3.500 | 04-01-45 | 367,475 | 326,381 | |
30 Yr Pass Thru | 3.500 | 11-01-46 | 725,793 | 641,681 | |
30 Yr Pass Thru | 3.500 | 07-01-47 | 748,743 | 661,737 | |
30 Yr Pass Thru | 3.500 | 07-01-47 | 717,780 | 638,634 | |
30 Yr Pass Thru (B) | 3.500 | 11-01-47 | 313,804 | 277,143 | |
30 Yr Pass Thru (B) | 3.500 | 09-01-49 | 159,850 | 139,626 | |
30 Yr Pass Thru | 3.500 | 03-01-50 | 399,025 | 348,418 | |
30 Yr Pass Thru (B) | 4.000 | 09-01-41 | 259,061 | 240,686 | |
30 Yr Pass Thru | 4.000 | 01-01-49 | 691,348 | 626,742 | |
30 Yr Pass Thru (B) | 4.000 | 07-01-49 | 146,625 | 133,519 | |
30 Yr Pass Thru (B) | 4.000 | 08-01-49 | 299,433 | 272,668 | |
30 Yr Pass Thru (B) | 4.000 | 02-01-50 | 241,885 | 219,432 | |
30 Yr Pass Thru | 4.000 | 03-01-51 | 783,426 | 711,930 | |
30 Yr Pass Thru | 4.000 | 08-01-51 | 529,115 | 481,819 | |
30 Yr Pass Thru | 4.000 | 10-01-51 | 1,061,914 | 962,016 | |
30 Yr Pass Thru (B) | 4.000 | 04-01-52 | 101,272 | 91,325 | |
30 Yr Pass Thru | 4.000 | 06-01-52 | 1,052,068 | 947,754 | |
30 Yr Pass Thru | 4.000 | 06-01-52 | 1,070,992 | 964,801 | |
30 Yr Pass Thru | 4.000 | 06-01-52 | 853,443 | 772,623 | |
30 Yr Pass Thru | 4.000 | 07-01-52 | 412,896 | 372,731 | |
30 Yr Pass Thru | 4.500 | 06-01-52 | 429,580 | 399,968 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 5 |
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government Agency (continued) | |||||
30 Yr Pass Thru | 4.500 | 06-01-52 | 1,000,635 | $930,407 | |
30 Yr Pass Thru | 4.500 | 08-01-52 | 487,846 | 450,558 | |
30 Yr Pass Thru (B) | 4.500 | 08-01-52 | 110,989 | 103,407 | |
30 Yr Pass Thru | 4.500 | 08-01-52 | 816,139 | 753,759 | |
30 Yr Pass Thru | 4.500 | 09-01-52 | 678,575 | 633,707 | |
30 Yr Pass Thru | 5.000 | 06-01-52 | 673,763 | 645,088 | |
30 Yr Pass Thru | 5.000 | 08-01-52 | 1,274,317 | 1,217,075 | |
30 Yr Pass Thru | 5.000 | 10-01-52 | 1,569,886 | 1,502,237 | |
30 Yr Pass Thru | 5.000 | 10-01-52 | 781,662 | 748,150 | |
30 Yr Pass Thru | 5.000 | 11-01-52 | 2,765,958 | 2,647,375 | |
30 Yr Pass Thru | 5.000 | 12-01-52 | 730,753 | 699,423 | |
30 Yr Pass Thru | 5.000 | 03-01-53 | 1,123,807 | 1,073,520 | |
30 Yr Pass Thru | 5.500 | 01-01-53 | 1,916,144 | 1,875,102 | |
30 Yr Pass Thru | 5.500 | 02-01-53 | 902,383 | 885,875 | |
30 Yr Pass Thru | 5.500 | 03-01-53 | 710,562 | 696,009 | |
30 Yr Pass Thru | 5.500 | 04-01-53 | 1,726,859 | 1,685,554 | |
30 Yr Pass Thru | 5.500 | 05-01-53 | 1,025,123 | 1,002,205 | |
30 Yr Pass Thru | 5.500 | 05-01-53 | 1,226,068 | 1,202,872 | |
30 Yr Pass Thru | 5.500 | 05-01-53 | 1,020,148 | 998,935 | |
30 Yr Pass Thru | 5.500 | 05-01-53 | 703,984 | 689,566 | |
30 Yr Pass Thru | 6.000 | 05-01-53 | 718,982 | 721,450 | |
30 Yr Pass Thru | 6.000 | 07-01-53 | 702,766 | 699,688 | |
30 Yr Pass Thru | 6.000 | 08-01-53 | 969,301 | 968,976 | |
30 Yr Pass Thru | 6.500 | 04-01-53 | 733,818 | 748,344 | |
30 Yr Pass Thru | 6.500 | 05-01-53 | 656,657 | 666,404 | |
30 Yr Pass Thru | 6.500 | 08-01-53 | 748,009 | 763,050 | |
30 Yr Pass Thru (B) | 6.500 | 08-01-53 | 758,906 | 772,743 | |
30 Yr Pass Thru | 6.500 | 09-01-53 | 756,159 | 768,765 | |
30 Yr Pass Thru (B) | 6.500 | 10-01-53 | 760,239 | 775,407 | |
30 Yr Pass Thru | 6.500 | 11-01-53 | 617,308 | 629,914 | |
Corporate bonds 66.5% (40.2% of Total investments) | $90,530,037 | ||||
(Cost $94,237,284) | |||||
Communication services 4.9% | 6,733,352 | ||||
Diversified telecommunication services 0.7% | |||||
C&W Senior Finance, Ltd. (C) | 6.875 | 09-15-27 | 208,000 | 196,959 | |
Connect Finco SARL (B)(C) | 6.750 | 10-01-26 | 371,000 | 359,309 | |
GCI LLC (B)(C) | 4.750 | 10-15-28 | 208,000 | 185,545 | |
Telesat Canada (C) | 5.625 | 12-06-26 | 93,000 | 45,177 | |
Total Play Telecomunicaciones SA de CV (C) | 6.375 | 09-20-28 | 216,000 | 115,305 | |
Zayo Group Holdings, Inc. (B)(C) | 4.000 | 03-01-27 | 153,000 | 121,782 | |
Entertainment 1.1% | |||||
Netflix, Inc. (B) | 4.875 | 04-15-28 | 484,000 | 475,165 | |
Netflix, Inc. (B)(C) | 5.375 | 11-15-29 | 92,000 | 91,737 |
6 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Communication services (continued) | |||||
Entertainment (continued) | |||||
Netflix, Inc. (B) | 5.875 | 11-15-28 | 135,000 | $137,795 | |
WarnerMedia Holdings, Inc. (B) | 4.279 | 03-15-32 | 435,000 | 374,703 | |
WarnerMedia Holdings, Inc. (B) | 5.141 | 03-15-52 | 369,000 | 282,622 | |
WMG Acquisition Corp. (B)(C) | 3.875 | 07-15-30 | 102,000 | 88,924 | |
Interactive media and services 0.0% | |||||
Match Group Holdings II LLC (B)(C) | 3.625 | 10-01-31 | 67,000 | 55,309 | |
Media 2.0% | |||||
Charter Communications Operating LLC (B) | 4.200 | 03-15-28 | 464,000 | 431,602 | |
Charter Communications Operating LLC (B) | 5.750 | 04-01-48 | 361,000 | 290,948 | |
Charter Communications Operating LLC (B) | 6.384 | 10-23-35 | 338,000 | 319,376 | |
Globo Comunicacao e Participacoes SA (C) | 4.875 | 01-22-30 | 315,000 | 274,476 | |
News Corp. (B)(C) | 3.875 | 05-15-29 | 166,000 | 149,507 | |
Paramount Global (B) | 4.200 | 05-19-32 | 78,000 | 63,698 | |
Paramount Global (B) | 4.375 | 03-15-43 | 161,000 | 106,657 | |
Paramount Global (B) | 4.950 | 05-19-50 | 328,000 | 228,944 | |
Sirius XM Radio, Inc. (B)(C) | 4.000 | 07-15-28 | 179,000 | 159,564 | |
Sirius XM Radio, Inc. (B)(C) | 5.000 | 08-01-27 | 309,000 | 291,817 | |
TCI Communications, Inc. (B) | 7.875 | 02-15-26 | 415,000 | 431,604 | |
Wireless telecommunication services 1.1% | |||||
T-Mobile USA, Inc. (B) | 3.875 | 04-15-30 | 798,000 | 730,174 | |
T-Mobile USA, Inc. (B) | 4.850 | 01-15-29 | 230,000 | 224,198 | |
T-Mobile USA, Inc. (B) | 5.375 | 04-15-27 | 135,000 | 135,266 | |
Vodafone Group PLC (B) | 5.625 | 02-10-53 | 143,000 | 133,857 | |
Vodafone Group PLC (7.000% to 4-4-29, then 5 Year U.S. Swap Rate + 4.873% to 4-4-49, then 5 Year U.S. Swap Rate + 5.623%) (B) | 7.000 | 04-04-79 | 228,000 | 231,332 | |
Consumer discretionary 6.1% | 8,299,736 | ||||
Automobile components 0.1% | |||||
Dealer Tire LLC (C) | 8.000 | 02-01-28 | 92,000 | 90,503 | |
Automobiles 2.9% | |||||
Ford Motor Company (B) | 6.100 | 08-19-32 | 238,000 | 233,460 | |
Ford Motor Company (B) | 9.625 | 04-22-30 | 390,000 | 448,060 | |
Ford Motor Credit Company LLC (B) | 4.000 | 11-13-30 | 424,000 | 369,510 | |
Ford Motor Credit Company LLC (B) | 5.113 | 05-03-29 | 440,000 | 419,245 | |
Ford Motor Credit Company LLC (B) | 5.800 | 03-08-29 | 287,000 | 282,038 | |
Ford Motor Credit Company LLC (B) | 6.800 | 05-12-28 | 753,000 | 768,400 | |
General Motors Company (B) | 5.400 | 04-01-48 | 162,000 | 141,902 | |
General Motors Financial Company, Inc. (A)(B) | 5.850 | 04-06-30 | 670,000 | 667,800 | |
Hyundai Capital America (B)(C) | 5.300 | 01-08-29 | 109,000 | 106,908 | |
Hyundai Capital America (B)(C) | 5.680 | 06-26-28 | 229,000 | 228,102 | |
Nissan Motor Acceptance Company LLC (B)(C) | 6.950 | 09-15-26 | 260,000 | 264,582 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 7 |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Broadline retail 0.3% | |||||
Kohl’s Corp. (B) | 4.625 | 05-01-31 | 128,000 | $105,526 | |
Macy’s Retail Holdings LLC (B)(C) | 5.875 | 04-01-29 | 101,000 | 97,381 | |
Macy’s Retail Holdings LLC (A)(B)(C) | 5.875 | 03-15-30 | 91,000 | 86,740 | |
Macy’s Retail Holdings LLC (B)(C) | 6.125 | 03-15-32 | 156,000 | 147,563 | |
Hotels, restaurants and leisure 1.4% | |||||
Booking Holdings, Inc. (B) | 4.625 | 04-13-30 | 270,000 | 260,275 | |
Caesars Entertainment, Inc. (B)(C) | 6.500 | 02-15-32 | 99,000 | 97,539 | |
CCM Merger, Inc. (B)(C) | 6.375 | 05-01-26 | 105,000 | 104,746 | |
Full House Resorts, Inc. (A)(B)(C) | 8.250 | 02-15-28 | 100,000 | 95,443 | |
Hilton Grand Vacations Borrower Escrow LLC (B)(C) | 5.000 | 06-01-29 | 185,000 | 168,267 | |
Hilton Grand Vacations Borrower Escrow LLC (B)(C) | 6.625 | 01-15-32 | 191,000 | 188,301 | |
Jacobs Entertainment, Inc. (B)(C) | 6.750 | 02-15-29 | 77,000 | 73,043 | |
MGM Resorts International (B) | 4.750 | 10-15-28 | 332,000 | 309,676 | |
Midwest Gaming Borrower LLC (B)(C) | 4.875 | 05-01-29 | 210,000 | 191,561 | |
Mohegan Tribal Gaming Authority (B)(C) | 8.000 | 02-01-26 | 173,000 | 164,328 | |
Resorts World Las Vegas LLC (B)(C) | 4.625 | 04-16-29 | 200,000 | 177,505 | |
Royal Caribbean Cruises, Ltd. (B)(C) | 6.250 | 03-15-32 | 50,000 | 49,289 | |
Travel + Leisure Company (B)(C) | 4.625 | 03-01-30 | 91,000 | 81,283 | |
Household durables 0.3% | |||||
Brookfield Residential Properties, Inc. (B)(C) | 5.000 | 06-15-29 | 117,000 | 103,597 | |
Century Communities, Inc. (B)(C) | 3.875 | 08-15-29 | 157,000 | 137,071 | |
KB Home (B) | 4.000 | 06-15-31 | 178,000 | 154,588 | |
Leisure products 0.1% | |||||
Brunswick Corp. (B) | 5.850 | 03-18-29 | 95,000 | 93,999 | |
Specialty retail 0.8% | |||||
Amer Sports Company (B)(C) | 6.750 | 02-16-31 | 50,000 | 49,241 | |
Asbury Automotive Group, Inc. (B)(C) | 4.625 | 11-15-29 | 55,000 | 49,732 | |
Asbury Automotive Group, Inc. (B) | 4.750 | 03-01-30 | 165,000 | 149,555 | |
AutoNation, Inc. (B) | 4.750 | 06-01-30 | 244,000 | 228,757 | |
Group 1 Automotive, Inc. (B)(C) | 4.000 | 08-15-28 | 107,000 | 97,311 | |
Lithia Motors, Inc. (B)(C) | 3.875 | 06-01-29 | 80,000 | 70,659 | |
Lithia Motors, Inc. (B)(C) | 4.375 | 01-15-31 | 80,000 | 70,040 | |
Lithia Motors, Inc. (B)(C) | 4.625 | 12-15-27 | 40,000 | 37,708 | |
The Michaels Companies, Inc. (A)(B)(C) | 5.250 | 05-01-28 | 253,000 | 214,133 | |
The Michaels Companies, Inc. (C) | 7.875 | 05-01-29 | 234,000 | 171,455 | |
Textiles, apparel and luxury goods 0.2% | |||||
Tapestry, Inc. (B) | 7.700 | 11-27-30 | 135,000 | 140,098 | |
Tapestry, Inc. (B) | 7.850 | 11-27-33 | 108,000 | 112,816 |
8 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer staples 1.3% | $1,819,239 | ||||
Food products 1.3% | |||||
Fiesta Purchaser, Inc. (B)(C) | 7.875 | 03-01-31 | 34,000 | 34,645 | |
JBS USA LUX SA (B) | 5.500 | 01-15-30 | 45,000 | 43,438 | |
JBS USA LUX SA (B) | 5.750 | 04-01-33 | 528,000 | 504,964 | |
Kraft Heinz Foods Company (B) | 4.375 | 06-01-46 | 534,000 | 427,807 | |
Kraft Heinz Foods Company (B) | 5.000 | 06-04-42 | 139,000 | 124,148 | |
MARB BondCo PLC (C) | 3.950 | 01-29-31 | 299,000 | 239,912 | |
NBM US Holdings, Inc. (C) | 6.625 | 08-06-29 | 298,000 | 291,193 | |
Pilgrim’s Pride Corp. (B) | 6.250 | 07-01-33 | 154,000 | 153,132 | |
Energy 10.6% | 14,371,476 | ||||
Oil, gas and consumable fuels 10.6% | |||||
Aker BP ASA (C) | 6.000 | 06-13-33 | 245,000 | 244,485 | |
Antero Midstream Partners LP (B)(C) | 5.375 | 06-15-29 | 182,000 | 173,184 | |
Antero Midstream Partners LP (B)(C) | 6.625 | 02-01-32 | 143,000 | 142,569 | |
Antero Resources Corp. (B)(C) | 5.375 | 03-01-30 | 69,000 | 65,603 | |
Ascent Resources Utica Holdings LLC (B)(C) | 5.875 | 06-30-29 | 237,000 | 225,858 | |
Ascent Resources Utica Holdings LLC (B)(C) | 8.250 | 12-31-28 | 40,000 | 40,815 | |
Cheniere Energy Partners LP (B) | 4.000 | 03-01-31 | 362,000 | 322,997 | |
Cheniere Energy Partners LP (B) | 4.500 | 10-01-29 | 403,000 | 377,064 | |
Cheniere Energy, Inc. (B)(C) | 5.650 | 04-15-34 | 107,000 | 104,718 | |
Civitas Resources, Inc. (B)(C) | 8.625 | 11-01-30 | 111,000 | 118,119 | |
Columbia Pipelines Holding Company LLC (B)(C) | 5.681 | 01-15-34 | 173,000 | 166,376 | |
Columbia Pipelines Operating Company LLC (B)(C) | 5.927 | 08-15-30 | 87,000 | 87,149 | |
Columbia Pipelines Operating Company LLC (B)(C) | 6.036 | 11-15-33 | 280,000 | 280,891 | |
Continental Resources, Inc. (B) | 4.900 | 06-01-44 | 162,000 | 130,682 | |
Continental Resources, Inc. (B)(C) | 5.750 | 01-15-31 | 299,000 | 292,718 | |
Diamondback Energy, Inc. (B) | 5.750 | 04-18-54 | 242,000 | 231,027 | |
Enbridge, Inc. (5.500% to 7-15-27, then 3 month CME Term SOFR + 3.680% to 7-15-47, then 3 month CME Term SOFR + 4.430%) (B) | 5.500 | 07-15-77 | 340,000 | 313,216 | |
Enbridge, Inc. (5.750% to 7-15-30, then 5 Year CMT + 5.314% to 7-15-50, then 5 Year CMT + 6.064%) (B) | 5.750 | 07-15-80 | 347,000 | 317,909 | |
Enbridge, Inc. (6.250% to 3-1-28, then 3 month CME Term SOFR + 3.903% to 3-1-48, then 3 month CME Term SOFR + 4.653%) (B) | 6.250 | 03-01-78 | 306,000 | 285,540 | |
Enbridge, Inc. (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%) (B) | 8.500 | 01-15-84 | 144,000 | 151,927 | |
Energean Israel Finance, Ltd. (C) | 5.375 | 03-30-28 | 79,000 | 70,041 | |
Energean Israel Finance, Ltd. (C) | 5.875 | 03-30-31 | 138,000 | 117,410 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 9 |
Rate (%) | Maturity date | Par value^ | Value | ||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
Energy Transfer LP (B) | 5.150 | 03-15-45 | 345,000 | $296,441 | |
Energy Transfer LP (B) | 5.250 | 04-15-29 | 263,000 | 258,885 | |
Energy Transfer LP (B) | 5.400 | 10-01-47 | 250,000 | 219,374 | |
Energy Transfer LP (B) | 5.500 | 06-01-27 | 263,000 | 261,694 | |
Energy Transfer LP (6.500% to 11-15-26, then 5 Year CMT + 5.694%) (B)(D) | 6.500 | 11-15-26 | 488,000 | 473,530 | |
Energy Transfer LP (7.125% to 5-15-30, then 5 Year CMT + 5.306%) (B)(D) | 7.125 | 05-15-30 | 381,000 | 365,804 | |
Enterprise Products Operating LLC (5.250% to 8-16-27, then 3 month CME Term SOFR + 3.295%) (B) | 5.250 | 08-16-77 | 580,000 | 544,036 | |
EQM Midstream Partners LP (B)(C) | 6.375 | 04-01-29 | 70,000 | 69,347 | |
EQM Midstream Partners LP (B)(C) | 7.500 | 06-01-27 | 32,000 | 32,602 | |
EQM Midstream Partners LP (B)(C) | 7.500 | 06-01-30 | 18,000 | 18,874 | |
Global Partners LP (B)(C) | 8.250 | 01-15-32 | 51,000 | 52,245 | |
Hess Midstream Operations LP (B)(C) | 4.250 | 02-15-30 | 59,000 | 53,247 | |
Hess Midstream Operations LP (B)(C) | 5.500 | 10-15-30 | 25,000 | 23,903 | |
Kinder Morgan Energy Partners LP (B) | 7.750 | 03-15-32 | 142,000 | 156,637 | |
Leviathan Bond, Ltd. (C) | 6.500 | 06-30-27 | 327,000 | 306,252 | |
Leviathan Bond, Ltd. (C) | 6.750 | 06-30-30 | 64,000 | 57,040 | |
MC Brazil Downstream Trading SARL (C) | 7.250 | 06-30-31 | 198,707 | 172,157 | |
MPLX LP (B) | 4.250 | 12-01-27 | 170,000 | 162,857 | |
MPLX LP (B) | 4.950 | 09-01-32 | 149,000 | 140,534 | |
MPLX LP (B) | 5.000 | 03-01-33 | 152,000 | 142,950 | |
Occidental Petroleum Corp. (B) | 6.450 | 09-15-36 | 262,000 | 270,382 | |
Occidental Petroleum Corp. (B) | 6.600 | 03-15-46 | 126,000 | 129,734 | |
Occidental Petroleum Corp. (B) | 6.625 | 09-01-30 | 308,000 | 319,134 | |
Occidental Petroleum Corp. (B) | 8.500 | 07-15-27 | 405,000 | 432,828 | |
ONEOK, Inc. (B) | 5.650 | 11-01-28 | 109,000 | 109,346 | |
ONEOK, Inc. (B) | 6.050 | 09-01-33 | 242,000 | 244,687 | |
ONEOK, Inc. (B) | 6.625 | 09-01-53 | 260,000 | 271,183 | |
Ovintiv, Inc. (B) | 5.650 | 05-15-28 | 86,000 | 85,923 | |
Ovintiv, Inc. (B) | 6.250 | 07-15-33 | 86,000 | 86,684 | |
Ovintiv, Inc. (B) | 7.200 | 11-01-31 | 41,000 | 43,576 | |
Parkland Corp. (B)(C) | 4.500 | 10-01-29 | 133,000 | 120,536 | |
Parkland Corp. (B)(C) | 4.625 | 05-01-30 | 132,000 | 119,294 | |
Petroleos Mexicanos | 7.690 | 01-23-50 | 466,000 | 324,437 | |
Petroleos Mexicanos | 8.750 | 06-02-29 | 123,000 | 118,777 | |
Sabine Pass Liquefaction LLC (B) | 4.200 | 03-15-28 | 153,000 | 145,807 | |
Sabine Pass Liquefaction LLC (B) | 4.500 | 05-15-30 | 416,000 | 390,567 | |
Sabine Pass Liquefaction LLC (B) | 5.000 | 03-15-27 | 259,000 | 255,178 | |
Southwestern Energy Company (B) | 4.750 | 02-01-32 | 98,000 | 88,255 | |
Sunoco LP (B) | 4.500 | 04-30-30 | 196,000 | 176,371 | |
Sunoco LP (B)(C) | 7.000 | 05-01-29 | 137,000 | 139,135 |
10 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
Sunoco LP (B)(C) | 7.250 | 05-01-32 | 137,000 | $139,145 | |
Talos Production, Inc. (B)(C) | 9.000 | 02-01-29 | 22,000 | 23,211 | |
Talos Production, Inc. (B)(C) | 9.375 | 02-01-31 | 28,000 | 29,840 | |
Targa Resources Corp. (B) | 4.950 | 04-15-52 | 323,000 | 268,933 | |
Targa Resources Corp. (B) | 6.150 | 03-01-29 | 222,000 | 225,808 | |
Targa Resources Partners LP (B) | 4.000 | 01-15-32 | 267,000 | 234,600 | |
The Williams Companies, Inc. (B) | 4.650 | 08-15-32 | 133,000 | 124,310 | |
Var Energi ASA (C) | 7.500 | 01-15-28 | 200,000 | 208,726 | |
Var Energi ASA (C) | 8.000 | 11-15-32 | 412,000 | 452,269 | |
Venture Global Calcasieu Pass LLC (B)(C) | 3.875 | 08-15-29 | 72,000 | 63,614 | |
Venture Global Calcasieu Pass LLC (B)(C) | 4.125 | 08-15-31 | 119,000 | 103,860 | |
Venture Global LNG, Inc. (B)(C) | 9.500 | 02-01-29 | 229,000 | 246,143 | |
Vital Energy, Inc. (B)(C) | 7.875 | 04-15-32 | 94,000 | 95,383 | |
Western Midstream Operating LP (B) | 4.050 | 02-01-30 | 234,000 | 215,093 | |
Financials 19.8% | 26,932,525 | ||||
Banks 13.2% | |||||
Banco Santander SA | 4.379 | 04-12-28 | 287,000 | 271,776 | |
Bank of America Corp. (3.846% to 3-8-32, then 5 Year CMT + 2.000%) (B) | 3.846 | 03-08-37 | 340,000 | 292,820 | |
Bank of America Corp. (3.970% to 3-5-28, then 3 month CME Term SOFR + 1.332%) (B) | 3.970 | 03-05-29 | 297,000 | 279,601 | |
Bank of America Corp. (5.015% to 7-22-32, then Overnight SOFR + 2.160%) (B) | 5.015 | 07-22-33 | 965,000 | 921,260 | |
Bank of America Corp. (6.204% to 11-10-27, then Overnight SOFR + 1.990%) (B) | 6.204 | 11-10-28 | 309,000 | 315,462 | |
Bank of America Corp. (6.300% to 3-10-26, then 3 month CME Term SOFR + 4.815%) (B)(D) | 6.300 | 03-10-26 | 403,000 | 400,725 | |
Bank of Montreal (7.700% to 5-26-29, then 5 Year CMT + 3.452%) (B) | 7.700 | 05-26-84 | 328,000 | 327,423 | |
Barclays PLC (4.375% to 9-15-28, then 5 Year CMT + 3.410%) (B)(D) | 4.375 | 03-15-28 | 296,000 | 241,030 | |
Barclays PLC (7.385% to 11-2-27, then 1 Year CMT + 3.300%) (B) | 7.385 | 11-02-28 | 435,000 | 454,343 | |
BNP Paribas SA (5.497% to 5-20-29, then Overnight SOFR + 1.590%) (B)(C) | 5.497 | 05-20-30 | 201,000 | 197,624 | |
Citibank NA (B) | 5.488 | 12-04-26 | 430,000 | 430,411 | |
Citigroup, Inc. (4.700% to 1-30-25, then Overnight SOFR + 3.234%) (B)(D) | 4.700 | 01-30-25 | 356,000 | 345,920 | |
Citigroup, Inc. (5.174% to 2-13-29, then Overnight SOFR + 1.364%) (B) | 5.174 | 02-13-30 | 156,000 | 152,562 | |
Citigroup, Inc. (6.174% to 5-25-33, then Overnight SOFR + 2.661%) (B) | 6.174 | 05-25-34 | 288,000 | 285,823 | |
Citigroup, Inc. (6.250% to 8-15-26, then 3 month CME Term SOFR + 4.779%) (B)(D) | 6.250 | 08-15-26 | 525,000 | 522,616 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 11 |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Banks (continued) | |||||
Citigroup, Inc. (6.270% to 11-17-32, then Overnight SOFR + 2.338%) (B) | 6.270 | 11-17-33 | 150,000 | $153,917 | |
Comerica, Inc. (5.982% to 1-30-29, then Overnight SOFR + 2.155%) (B) | 5.982 | 01-30-30 | 151,000 | 146,635 | |
Credit Agricole SA (5.335% to 1-10-29, then Overnight SOFR + 1.690%) (B)(C) | 5.335 | 01-10-30 | 440,000 | 431,936 | |
Credit Agricole SA (6.316% to 10-3-28, then Overnight SOFR + 1.860%) (B)(C) | 6.316 | 10-03-29 | 281,000 | 286,308 | |
Fifth Third Bancorp (3 month CME Term SOFR + 3.295%) (B)(D)(E) | 8.597 | 05-31-24 | 173,000 | 167,953 | |
Huntington Bancshares, Inc. (6.208% to 8-21-28, then Overnight SOFR + 2.020%) (B) | 6.208 | 08-21-29 | 163,000 | 163,691 | |
JPMorgan Chase & Co. (4.452% to 12-5-28, then 3 month CME Term SOFR + 1.592%) (B) | 4.452 | 12-05-29 | 115,000 | 110,050 | |
JPMorgan Chase & Co. (4.600% to 2-1-25, then 3 month CME Term SOFR + 3.125%) (B)(D) | 4.600 | 02-01-25 | 379,000 | 372,804 | |
JPMorgan Chase & Co. (4.912% to 7-25-32, then Overnight SOFR + 2.080%) (B) | 4.912 | 07-25-33 | 345,000 | 328,008 | |
JPMorgan Chase & Co. (5.012% to 1-23-29, then Overnight SOFR + 1.310%) (B) | 5.012 | 01-23-30 | 260,000 | 253,691 | |
JPMorgan Chase & Co. (5.581% to 4-22-29, then Overnight SOFR + 1.160%) (B) | 5.581 | 04-22-30 | 169,000 | 168,850 | |
JPMorgan Chase & Co. (5.717% to 9-14-32, then Overnight SOFR + 2.580%) (B) | 5.717 | 09-14-33 | 355,000 | 353,660 | |
JPMorgan Chase & Co. (B) | 8.750 | 09-01-30 | 375,000 | 434,667 | |
Lloyds Banking Group PLC (7.500% to 6-27-24, then 5 Year U.S. Swap Rate + 4.760%) (B)(D) | 7.500 | 06-27-24 | 385,000 | 385,415 | |
M&T Bank Corp. (5.125% to 11-1-26, then 3 month CME Term SOFR + 3.782%) (B)(D) | 5.125 | 11-01-26 | 141,000 | 123,927 | |
NatWest Group PLC (5.516% to 9-30-27, then 1 Year CMT + 2.270%) (B) | 5.516 | 09-30-28 | 342,000 | 338,481 | |
NatWest Group PLC (6.000% to 6-29-26, then 5 Year CMT + 5.625%) (B)(D) | 6.000 | 12-29-25 | 393,000 | 381,962 | |
Popular, Inc. | 7.250 | 03-13-28 | 218,000 | 218,577 | |
Santander Holdings USA, Inc. (B) | 4.400 | 07-13-27 | 395,000 | 378,164 | |
Societe Generale SA (5.375% to 11-18-30, then 5 Year CMT + 4.514%) (B)(C)(D) | 5.375 | 11-18-30 | 269,000 | 217,581 | |
Societe Generale SA (5.634% to 1-19-29, then 1 Year CMT + 1.750%) (B)(C) | 5.634 | 01-19-30 | 200,000 | 195,422 | |
Societe Generale SA (6.446% to 1-10-28, then 1 Year CMT + 2.550%) (B)(C) | 6.446 | 01-10-29 | 319,000 | 323,114 | |
The PNC Financial Services Group, Inc. (5.582% to 6-12-28, then Overnight SOFR + 1.841%) (B) | 5.582 | 06-12-29 | 431,000 | 429,063 |
12 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Banks (continued) | |||||
The PNC Financial Services Group, Inc. (5.939% to 8-18-33, then Overnight SOFR + 1.946%) (B) | 5.939 | 08-18-34 | 245,000 | $244,412 | |
The PNC Financial Services Group, Inc. (6.200% to 9-15-27, then 5 Year CMT + 3.238%) (A)(B)(D) | 6.200 | 09-15-27 | 355,000 | 348,008 | |
The PNC Financial Services Group, Inc. (6.250% to 3-15-30, then 7 Year CMT + 2.808%) (B)(D) | 6.250 | 03-15-30 | 216,000 | 203,062 | |
The PNC Financial Services Group, Inc. (3 month CME Term SOFR + 3.302%) (B)(D)(E) | 8.643 | 06-01-24 | 224,000 | 224,278 | |
Truist Financial Corp. (5.435% to 1-24-29, then Overnight SOFR + 1.620%) (B) | 5.435 | 01-24-30 | 290,000 | 284,077 | |
Truist Financial Corp. (5.867% to 6-8-33, then Overnight SOFR + 2.361%) (B) | 5.867 | 06-08-34 | 256,000 | 251,189 | |
Truist Financial Corp. (7.161% to 10-30-28, then Overnight SOFR + 2.446%) (B) | 7.161 | 10-30-29 | 683,000 | 715,153 | |
U.S. Bancorp (5.384% to 1-23-29, then Overnight SOFR + 1.560%) (B) | 5.384 | 01-23-30 | 153,000 | 150,871 | |
U.S. Bancorp (5.836% to 6-10-33, then Overnight SOFR + 2.260%) (B) | 5.836 | 06-12-34 | 287,000 | 283,683 | |
U.S. Bancorp (6.787% to 10-26-26, then Overnight SOFR + 1.880%) (B) | 6.787 | 10-26-27 | 272,000 | 278,963 | |
Wachovia Corp. (B) | 7.574 | 08-01-26 | 465,000 | 481,715 | |
Wells Fargo & Company (4.808% to 7-25-27, then Overnight SOFR + 1.980%) (B) | 4.808 | 07-25-28 | 621,000 | 605,096 | |
Wells Fargo & Company (4.897% to 7-25-32, then Overnight SOFR + 2.100%) (B) | 4.897 | 07-25-33 | 438,000 | 411,219 | |
Wells Fargo & Company (5.198% to 1-23-29, then Overnight SOFR + 1.500%) (B) | 5.198 | 01-23-30 | 396,000 | 388,290 | |
Wells Fargo & Company (5.875% to 6-15-25, then 9.865% thereafter) (B)(D) | 5.875 | 06-15-25 | 672,000 | 667,401 | |
Wells Fargo & Company (6.491% to 10-23-33, then Overnight SOFR + 2.060%) (B) | 6.491 | 10-23-34 | 560,000 | 583,034 | |
Capital markets 4.2% | |||||
Ares Capital Corp. (B) | 5.875 | 03-01-29 | 161,000 | 157,840 | |
Ares Capital Corp. (B) | 7.000 | 01-15-27 | 325,000 | 330,795 | |
Blackstone Private Credit Fund (A)(B) | 4.000 | 01-15-29 | 257,000 | 233,318 | |
Blackstone Private Credit Fund (B) | 7.050 | 09-29-25 | 445,000 | 449,150 | |
Blackstone Private Credit Fund (B)(C) | 7.300 | 11-27-28 | 241,000 | 247,508 | |
Deutsche Bank AG (6.720% to 1-18-28, then Overnight SOFR + 3.180%) (B) | 6.720 | 01-18-29 | 205,000 | 209,076 | |
Deutsche Bank AG (6.819% to 11-20-28, then Overnight SOFR + 2.510%) (B) | 6.819 | 11-20-29 | 171,000 | 175,748 | |
Deutsche Bank AG (7.079% to 11-10-32, then Overnight SOFR + 3.650%) (B) | 7.079 | 02-10-34 | 265,000 | 264,256 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 13 |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Capital markets (continued) | |||||
Global Atlantic Fin Company (4.700% to 10-15-26, then 5 Year CMT + 3.796%) (B)(C) | 4.700 | 10-15-51 | 163,000 | $144,043 | |
Jefferies Financial Group, Inc. (B) | 5.875 | 07-21-28 | 205,000 | 204,143 | |
Jefferies Financial Group, Inc. (B) | 6.200 | 04-14-34 | 199,000 | 196,727 | |
Lazard Group LLC (B) | 4.375 | 03-11-29 | 230,000 | 216,455 | |
Macquarie Group, Ltd. (5.033% to 1-15-29, then 3 month LIBOR + 1.750%) (B)(C) | 5.033 | 01-15-30 | 230,000 | 223,096 | |
Morgan Stanley (5.164% to 4-20-28, then Overnight SOFR + 1.590%) (B) | 5.164 | 04-20-29 | 189,000 | 185,911 | |
Morgan Stanley (5.173% to 1-16-29, then Overnight SOFR + 1.450%) (B) | 5.173 | 01-16-30 | 394,000 | 386,316 | |
Morgan Stanley (5.948% to 1-19-33, then 5 Year CMT + 2.430%) (B) | 5.948 | 01-19-38 | 531,000 | 516,099 | |
MSCI, Inc. (B)(C) | 3.625 | 11-01-31 | 305,000 | 260,193 | |
The Bank of New York Mellon Corp. (4.975% to 3-14-29, then Overnight SOFR + 1.085%) (B) | 4.975 | 03-14-30 | 146,000 | 142,948 | |
The Charles Schwab Corp. (5.643% to 5-19-28, then Overnight SOFR + 2.210%) (B) | 5.643 | 05-19-29 | 290,000 | 290,457 | |
The Charles Schwab Corp. (6.196% to 11-17-28, then Overnight SOFR + 1.878%) (B) | 6.196 | 11-17-29 | 276,000 | 282,473 | |
The Goldman Sachs Group, Inc. (6.484% to 10-24-28, then Overnight SOFR + 1.770%) (B) | 6.484 | 10-24-29 | 345,000 | 355,985 | |
UBS Group AG (5.428% to 2-8-29, then 1 Year CMT + 1.520%) (C) | 5.428 | 02-08-30 | 209,000 | 205,537 | |
Consumer finance 0.5% | |||||
Ally Financial, Inc. (6.992% to 6-13-28, then Overnight SOFR + 3.260%) (B) | 6.992 | 06-13-29 | 227,000 | 231,891 | |
Ally Financial, Inc. (A)(B) | 7.100 | 11-15-27 | 170,000 | 175,551 | |
OneMain Finance Corp. (B) | 9.000 | 01-15-29 | 96,000 | 100,644 | |
Trust Fibra Uno (C) | 7.375 | 02-13-34 | 233,000 | 227,906 | |
Financial services 0.4% | |||||
Block, Inc. (B) | 3.500 | 06-01-31 | 96,000 | 81,096 | |
Corebridge Financial, Inc. (6.875% to 12-15-27, then 5 Year CMT + 3.846%) (B) | 6.875 | 12-15-52 | 112,000 | 110,875 | |
Nationstar Mortgage Holdings, Inc. (B)(C) | 5.125 | 12-15-30 | 71,000 | 63,782 | |
Nationstar Mortgage Holdings, Inc. (B)(C) | 5.500 | 08-15-28 | 147,000 | 138,235 | |
Nationstar Mortgage Holdings, Inc. (B)(C) | 6.000 | 01-15-27 | 75,000 | 73,492 | |
Insurance 1.5% | |||||
AmWINS Group, Inc. (B)(C) | 6.375 | 02-15-29 | 86,000 | 84,959 | |
Athene Holding, Ltd. (B) | 5.875 | 01-15-34 | 135,000 | 131,522 | |
CNA Financial Corp. (B) | 3.900 | 05-01-29 | 150,000 | 139,182 |
14 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Insurance (continued) | |||||
CNO Financial Group, Inc. (B) | 5.250 | 05-30-29 | 384,000 | $369,158 | |
Liberty Mutual Group, Inc. (4.125% to 12-15-26, then 5 Year CMT + 3.315%) (B)(C) | 4.125 | 12-15-51 | 203,000 | 184,769 | |
MetLife, Inc. (6.400% to 12-15-36, then 3 month CME Term SOFR + 2.467%) (B) | 6.400 | 12-15-36 | 355,000 | 353,395 | |
Panther Escrow Issuer LLC (B)(C) | 7.125 | 06-01-31 | 258,000 | 259,338 | |
SBL Holdings, Inc. (B)(C) | 5.000 | 02-18-31 | 275,000 | 233,473 | |
Teachers Insurance & Annuity Association of America (B)(C) | 4.270 | 05-15-47 | 430,000 | 335,946 | |
Mortgage real estate investment trusts 0.0% | |||||
Starwood Property Trust, Inc. (B)(C) | 7.250 | 04-01-29 | 36,000 | 35,514 | |
Health care 3.8% | 5,137,282 | ||||
Biotechnology 0.9% | |||||
Amgen, Inc. (B) | 5.250 | 03-02-30 | 533,000 | 528,300 | |
Amgen, Inc. (B) | 5.250 | 03-02-33 | 324,000 | 316,929 | |
Regeneron Pharmaceuticals, Inc. (B) | 1.750 | 09-15-30 | 284,000 | 226,735 | |
Star Parent, Inc. (B)(C) | 9.000 | 10-01-30 | 111,000 | 116,112 | |
Health care equipment and supplies 0.5% | |||||
Solventum Corp. (B)(C) | 5.400 | 03-01-29 | 204,000 | 200,141 | |
Solventum Corp. (B)(C) | 5.450 | 03-13-31 | 392,000 | 379,854 | |
Varex Imaging Corp. (B)(C) | 7.875 | 10-15-27 | 104,000 | 106,003 | |
Health care providers and services 1.5% | |||||
AdaptHealth LLC (B)(C) | 5.125 | 03-01-30 | 132,000 | 112,361 | |
Centene Corp. (B) | 4.250 | 12-15-27 | 70,000 | 66,011 | |
CVS Health Corp. (B) | 5.050 | 03-25-48 | 260,000 | 221,779 | |
CVS Health Corp. (B) | 5.125 | 02-21-30 | 205,000 | 200,677 | |
CVS Health Corp. (B) | 5.250 | 01-30-31 | 391,000 | 383,539 | |
DaVita, Inc. (B)(C) | 4.625 | 06-01-30 | 435,000 | 381,118 | |
HCA, Inc. (B) | 5.450 | 04-01-31 | 184,000 | 180,167 | |
HCA, Inc. (B) | 5.500 | 06-01-33 | 230,000 | 223,439 | |
Humana, Inc. (B) | 5.875 | 03-01-33 | 195,000 | 194,839 | |
Life sciences tools and services 0.2% | |||||
Thermo Fisher Scientific, Inc. (B) | 4.977 | 08-10-30 | 299,000 | 293,873 | |
Pharmaceuticals 0.7% | |||||
Endo Finance Holdings, Inc. (A)(B)(C) | 8.500 | 04-15-31 | 39,000 | 39,627 | |
IQVIA, Inc. (B) | 6.250 | 02-01-29 | 137,000 | 139,230 | |
Viatris, Inc. (B) | 2.700 | 06-22-30 | 380,000 | 314,248 | |
Viatris, Inc. (B) | 4.000 | 06-22-50 | 783,000 | 512,300 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 15 |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials 7.9% | $10,723,930 | ||||
Aerospace and defense 0.2% | |||||
AAR Escrow Issuer LLC (B)(C) | 6.750 | 03-15-29 | 56,000 | 56,302 | |
Huntington Ingalls Industries, Inc. (B) | 4.200 | 05-01-30 | 190,000 | 174,515 | |
The Boeing Company (C) | 6.298 | 05-01-29 | 91,000 | 91,361 | |
Building products 0.6% | |||||
Builders FirstSource, Inc. (B)(C) | 4.250 | 02-01-32 | 225,000 | 195,983 | |
Builders FirstSource, Inc. (B)(C) | 6.375 | 06-15-32 | 135,000 | 133,599 | |
Builders FirstSource, Inc. (B)(C) | 6.375 | 03-01-34 | 199,000 | 195,307 | |
Owens Corning (B) | 3.950 | 08-15-29 | 282,000 | 262,199 | |
Commercial services and supplies 0.3% | |||||
APX Group, Inc. (B)(C) | 5.750 | 07-15-29 | 201,000 | 186,897 | |
Prime Security Services Borrower LLC (B)(C) | 6.250 | 01-15-28 | 208,000 | 203,199 | |
Construction and engineering 0.3% | |||||
CIMIC Finance USA Pty, Ltd. (B)(C) | 7.000 | 03-25-34 | 133,000 | 131,304 | |
Global Infrastructure Solutions, Inc. (B)(C) | 5.625 | 06-01-29 | 200,000 | 179,689 | |
MasTec, Inc. (B)(C) | 4.500 | 08-15-28 | 147,000 | 137,144 | |
Electrical equipment 0.3% | |||||
EMRLD Borrower LP (B)(C) | 6.625 | 12-15-30 | 242,000 | 239,832 | |
Regal Rexnord Corp. (C) | 6.400 | 04-15-33 | 155,000 | 156,257 | |
Ground transportation 0.2% | |||||
Uber Technologies, Inc. (A)(B)(C) | 4.500 | 08-15-29 | 320,000 | 298,111 | |
Machinery 0.3% | |||||
Esab Corp. (B)(C) | 6.250 | 04-15-29 | 29,000 | 28,891 | |
Flowserve Corp. (B) | 3.500 | 10-01-30 | 184,000 | 159,790 | |
Ingersoll Rand, Inc. (B) | 5.400 | 08-14-28 | 51,000 | 50,867 | |
JB Poindexter & Company, Inc. (B)(C) | 8.750 | 12-15-31 | 95,000 | 97,068 | |
Passenger airlines 3.8% | |||||
Air Canada 2020-1 Class C Pass Through Trust (C) | 10.500 | 07-15-26 | 233,000 | 252,805 | |
Alaska Airlines 2020-1 Class B Pass Through Trust (C) | 8.000 | 08-15-25 | 16,821 | 17,006 | |
American Airlines 2014-1 Class A Pass Through Trust (B) | 3.700 | 10-01-26 | 97,994 | 93,271 | |
American Airlines 2015-1 Class A Pass Through Trust (B) | 3.375 | 05-01-27 | 594,246 | 557,081 | |
American Airlines 2016-1 Class A Pass Through Trust (B) | 4.100 | 01-15-28 | 265,599 | 246,160 | |
American Airlines 2016-1 Class AA Pass Through Trust (B) | 3.575 | 01-15-28 | 65,601 | 61,356 | |
American Airlines 2016-3 Class A Pass Through Trust (B) | 3.250 | 10-15-28 | 31,091 | 27,694 | |
American Airlines 2017-1 Class A Pass Through Trust (B) | 4.000 | 02-15-29 | 129,188 | 117,030 | |
American Airlines 2017-1 Class AA Pass Through Trust (B) | 3.650 | 02-15-29 | 198,750 | 184,414 |
16 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Passenger airlines (continued) | |||||
American Airlines 2017-2 Class A Pass Through Trust (B) | 3.600 | 10-15-29 | 161,388 | $148,033 | |
American Airlines 2019-1 Class A Pass Through Trust (B) | 3.500 | 02-15-32 | 263,087 | 226,092 | |
American Airlines 2019-1 Class AA Pass Through Trust (B) | 3.150 | 02-15-32 | 202,797 | 178,684 | |
American Airlines 2019-1 Class B Pass Through Trust (B) | 3.850 | 02-15-28 | 78,572 | 72,094 | |
American Airlines 2021-1 Class A Pass Through Trust (B) | 2.875 | 07-11-34 | 188,511 | 157,378 | |
American Airlines 2021-1 Class B Pass Through Trust (B) | 3.950 | 07-11-30 | 239,605 | 216,484 | |
American Airlines, Inc. (A)(B)(C) | 7.250 | 02-15-28 | 166,000 | 166,940 | |
British Airways 2018-1 Class A Pass Through Trust (B)(C) | 4.125 | 09-20-31 | 91,927 | 84,400 | |
British Airways 2020-1 Class A Pass Through Trust (B)(C) | 4.250 | 11-15-32 | 93,775 | 85,695 | |
British Airways 2020-1 Class B Pass Through Trust (B)(C) | 8.375 | 11-15-28 | 54,609 | 56,116 | |
Delta Air Lines, Inc. (B) | 4.375 | 04-19-28 | 250,000 | 239,170 | |
Delta Air Lines, Inc. (B)(C) | 4.750 | 10-20-28 | 332,848 | 322,224 | |
JetBlue 2019-1 Class AA Pass Through Trust (B) | 2.750 | 05-15-32 | 221,436 | 186,814 | |
United Airlines 2014-2 Class A Pass Through Trust (B) | 3.750 | 09-03-26 | 279,398 | 266,035 | |
United Airlines 2016-1 Class A Pass Through Trust (B) | 3.450 | 07-07-28 | 270,037 | 242,737 | |
United Airlines 2018-1 Class B Pass Through Trust (B) | 4.600 | 03-01-26 | 91,580 | 88,264 | |
United Airlines 2019-1 Class A Pass Through Trust (B) | 4.550 | 08-25-31 | 205,831 | 195,428 | |
United Airlines 2020-1 Class A Pass Through Trust (B) | 5.875 | 10-15-27 | 393,384 | 392,304 | |
United Airlines 2023-1 Class A Pass Through Trust (B) | 5.800 | 01-15-36 | 275,000 | 273,264 | |
United Airlines, Inc. (B)(C) | 4.625 | 04-15-29 | 64,000 | 58,984 | |
Professional services 0.2% | |||||
Concentrix Corp. (B) | 6.600 | 08-02-28 | 266,000 | 265,207 | |
Trading companies and distributors 1.7% | |||||
AerCap Ireland Capital DAC | 3.300 | 01-30-32 | 150,000 | 125,227 | |
AerCap Ireland Capital DAC (A)(B) | 5.100 | 01-19-29 | 150,000 | 146,301 | |
AerCap Ireland Capital DAC | 6.450 | 04-15-27 | 405,000 | 412,873 | |
Air Lease Corp. (B) | 5.100 | 03-01-29 | 165,000 | 160,404 | |
Air Lease Corp. (B) | 5.850 | 12-15-27 | 290,000 | 290,695 | |
Ashtead Capital, Inc. (B)(C) | 5.800 | 04-15-34 | 200,000 | 194,647 | |
Ashtead Capital, Inc. (B)(C) | 5.950 | 10-15-33 | 540,000 | 531,703 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 17 |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Trading companies and distributors (continued) | |||||
Beacon Roofing Supply, Inc. (B)(C) | 4.125 | 05-15-29 | 98,000 | $87,505 | |
BlueLinx Holdings, Inc. (B)(C) | 6.000 | 11-15-29 | 190,000 | 180,788 | |
United Rentals North America, Inc. (B) | 3.875 | 11-15-27 | 146,000 | 136,308 | |
Information technology 3.5% | 4,712,796 | ||||
IT services 0.2% | |||||
Gartner, Inc. (B)(C) | 4.500 | 07-01-28 | 287,000 | 269,894 | |
Kyndryl Holdings, Inc. (B) | 6.350 | 02-20-34 | 35,000 | 34,812 | |
Semiconductors and semiconductor equipment 2.0% | |||||
Broadcom, Inc. (B) | 4.750 | 04-15-29 | 976,000 | 944,889 | |
Foundry JV Holdco LLC (B)(C) | 5.875 | 01-25-34 | 239,000 | 231,629 | |
Micron Technology, Inc. (B) | 4.185 | 02-15-27 | 123,000 | 118,748 | |
Micron Technology, Inc. (B) | 5.300 | 01-15-31 | 154,000 | 151,111 | |
Micron Technology, Inc. (B) | 5.327 | 02-06-29 | 264,000 | 261,404 | |
Micron Technology, Inc. (B) | 5.875 | 02-09-33 | 140,000 | 140,744 | |
Micron Technology, Inc. (B) | 6.750 | 11-01-29 | 693,000 | 728,272 | |
Qorvo, Inc. (B) | 4.375 | 10-15-29 | 56,000 | 51,676 | |
Software 0.6% | |||||
Consensus Cloud Solutions, Inc. (A)(B)(C) | 6.500 | 10-15-28 | 119,000 | 104,196 | |
Oracle Corp. (B) | 6.250 | 11-09-32 | 595,000 | 617,186 | |
Rocket Software, Inc. (C) | 9.000 | 11-28-28 | 109,000 | 109,413 | |
Technology hardware, storage and peripherals 0.7% | |||||
Dell International LLC (B) | 5.300 | 10-01-29 | 566,000 | 560,304 | |
Dell International LLC (B) | 5.400 | 04-15-34 | 401,000 | 388,518 | |
Materials 2.4% | 3,304,715 | ||||
Chemicals 0.3% | |||||
Braskem Netherlands Finance BV (C) | 4.500 | 01-31-30 | 361,000 | 304,412 | |
Sasol Financing USA LLC | 5.500 | 03-18-31 | 158,000 | 131,319 | |
Construction materials 0.4% | |||||
Cemex SAB de CV (A)(B)(C) | 3.875 | 07-11-31 | 255,000 | 221,887 | |
Cemex SAB de CV (C) | 5.200 | 09-17-30 | 256,000 | 242,387 | |
Standard Industries, Inc. (B)(C) | 5.000 | 02-15-27 | 54,000 | 52,016 | |
Summit Materials LLC (B)(C) | 7.250 | 01-15-31 | 52,000 | 53,421 | |
Containers and packaging 0.5% | |||||
Graphic Packaging International LLC (B)(C) | 3.500 | 03-01-29 | 165,000 | 145,985 | |
Mauser Packaging Solutions Holding Company (B)(C) | 7.875 | 04-15-27 | 116,000 | 118,175 | |
Owens-Brockway Glass Container, Inc. (B)(C) | 6.625 | 05-13-27 | 97,000 | 96,920 | |
Owens-Brockway Glass Container, Inc. (A)(B)(C) | 7.250 | 05-15-31 | 76,000 | 76,116 | |
Pactiv Evergreen Group Issuer, Inc. (A)(B)(C) | 4.000 | 10-15-27 | 275,000 | 255,144 |
18 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Materials (continued) | |||||
Metals and mining 1.2% | |||||
Alcoa Nederland Holding BV (B)(C) | 7.125 | 03-15-31 | 55,000 | $55,633 | |
Anglo American Capital PLC (C) | 4.750 | 04-10-27 | 200,000 | 194,709 | |
Arsenal AIC Parent LLC (B)(C) | 8.000 | 10-01-30 | 92,000 | 95,787 | |
First Quantum Minerals, Ltd. (C) | 6.875 | 10-15-27 | 257,000 | 247,203 | |
Freeport-McMoRan, Inc. (B) | 4.250 | 03-01-30 | 278,000 | 256,893 | |
Freeport-McMoRan, Inc. (B) | 5.400 | 11-14-34 | 196,000 | 189,016 | |
Freeport-McMoRan, Inc. (B) | 5.450 | 03-15-43 | 323,000 | 296,076 | |
Novelis Corp. (B)(C) | 4.750 | 01-30-30 | 228,000 | 208,625 | |
Taseko Mines, Ltd. (A)(B)(C) | 8.250 | 05-01-30 | 62,000 | 62,991 | |
Real estate 1.7% | 2,361,102 | ||||
Residential REITs 0.1% | |||||
American Homes 4 Rent LP (B) | 4.250 | 02-15-28 | 154,000 | 145,869 | |
Specialized REITs 1.6% | |||||
American Tower Corp. (B) | 5.200 | 02-15-29 | 830,000 | 814,782 | |
American Tower Trust I (C) | 5.490 | 03-15-28 | 300,000 | 298,659 | |
GLP Capital LP (B) | 4.000 | 01-15-30 | 121,000 | 108,360 | |
GLP Capital LP (B) | 6.750 | 12-01-33 | 90,000 | 92,210 | |
Iron Mountain Information Management Services, Inc. (B)(C) | 5.000 | 07-15-32 | 54,000 | 47,859 | |
Iron Mountain, Inc. (B)(C) | 5.250 | 07-15-30 | 130,000 | 120,658 | |
SBA Tower Trust (C) | 6.599 | 01-15-28 | 96,000 | 97,443 | |
VICI Properties LP (B)(C) | 3.875 | 02-15-29 | 151,000 | 137,001 | |
VICI Properties LP (B)(C) | 4.125 | 08-15-30 | 155,000 | 138,154 | |
VICI Properties LP (B)(C) | 4.625 | 12-01-29 | 279,000 | 258,834 | |
VICI Properties LP (B) | 5.125 | 05-15-32 | 109,000 | 101,273 | |
Utilities 4.5% | 6,133,884 | ||||
Electric utilities 3.7% | |||||
American Electric Power Company, Inc. (B) | 5.625 | 03-01-33 | 94,000 | 91,884 | |
Atlantica Transmision Sur SA (C) | 6.875 | 04-30-43 | 228,600 | 231,640 | |
Constellation Energy Generation LLC (B) | 6.125 | 01-15-34 | 81,000 | 82,884 | |
Constellation Energy Generation LLC (B) | 6.500 | 10-01-53 | 138,000 | 143,229 | |
Dominion Energy South Carolina, Inc. (B) | 5.300 | 05-15-33 | 160,000 | 155,987 | |
Duke Energy Corp. (A)(B) | 5.750 | 09-15-33 | 278,000 | 276,921 | |
Electricite de France SA (B)(C) | 5.650 | 04-22-29 | 319,000 | 318,098 | |
FirstEnergy Corp. (B) | 3.400 | 03-01-50 | 72,000 | 46,202 | |
Georgia Power Company (B) | 4.950 | 05-17-33 | 144,000 | 137,089 | |
Monongahela Power Company (B)(C) | 5.400 | 12-15-43 | 50,000 | 45,303 | |
NextEra Energy Capital Holdings, Inc. (B) | 5.000 | 07-15-32 | 90,000 | 86,530 | |
NextEra Energy Capital Holdings, Inc. (6.700% to 9-1-29, then 5 Year CMT + 2.364%) (B) | 6.700 | 09-01-54 | 236,000 | 233,736 | |
NRG Energy, Inc. (B)(C) | 3.625 | 02-15-31 | 132,000 | 111,747 | |
NRG Energy, Inc. (B)(C) | 3.875 | 02-15-32 | 291,000 | 245,169 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 19 |
Rate (%) | Maturity date | Par value^ | Value | ||
Utilities (continued) | |||||
Electric utilities (continued) | |||||
NRG Energy, Inc. (B)(C) | 4.450 | 06-15-29 | 194,000 | $180,045 | |
NRG Energy, Inc. (B) | 5.750 | 01-15-28 | 250,000 | 246,061 | |
NRG Energy, Inc. (B)(C) | 7.000 | 03-15-33 | 240,000 | 249,929 | |
NRG Energy, Inc. (10.250% to 3-15-28, then 5 Year CMT + 5.920%) (B)(C)(D) | 10.250 | 03-15-28 | 189,000 | 203,764 | |
Progress Energy, Inc. (B) | 7.750 | 03-01-31 | 470,000 | 523,228 | |
The Southern Company (B) | 5.700 | 03-15-34 | 209,000 | 208,363 | |
Vistra Operations Company LLC (B)(C) | 3.700 | 01-30-27 | 486,000 | 457,380 | |
Vistra Operations Company LLC (B)(C) | 4.300 | 07-15-29 | 441,000 | 407,187 | |
Vistra Operations Company LLC (B)(C) | 6.875 | 04-15-32 | 96,000 | 95,598 | |
Vistra Operations Company LLC (B)(C) | 6.950 | 10-15-33 | 213,000 | 221,948 | |
Independent power and renewable electricity producers 0.4% | |||||
AES Panama Generation Holdings SRL (C) | 4.375 | 05-31-30 | 228,828 | 192,401 | |
NextEra Energy Operating Partners LP (B)(C) | 3.875 | 10-15-26 | 193,000 | 180,553 | |
NextEra Energy Operating Partners LP (B)(C) | 4.500 | 09-15-27 | 110,000 | 102,494 | |
Vistra Corp. (8.000% to 10-15-26, then 5 Year CMT + 6.930%) (B)(C)(D) | 8.000 | 10-15-26 | 74,000 | 74,766 | |
Multi-utilities 0.4% | |||||
NiSource, Inc. (B) | 5.250 | 03-30-28 | 55,000 | 54,397 | |
NiSource, Inc. (B) | 5.350 | 04-01-34 | 165,000 | 157,920 | |
NiSource, Inc. (B) | 5.400 | 06-30-33 | 115,000 | 111,897 | |
Sempra (B) | 5.500 | 08-01-33 | 224,000 | 217,581 | |
Water utilities 0.0% | |||||
Artera Services LLC (B)(C) | 8.500 | 02-15-31 | 41,000 | 41,953 | |
Municipal bonds 0.1% (0.0% of Total investments) | $126,747 | ||||
(Cost $176,000) | |||||
Golden State Tobacco Securitization Corp. (California) | 4.214 | 06-01-50 | 176,000 | 126,747 | |
Term loans (F) 0.0% (0.0% of Total investments) | $80,696 | ||||
(Cost $80,550) | |||||
Health care 0.0% | 80,696 | ||||
Pharmaceuticals 0.0% | |||||
Endo Finance Holdings, Inc., 2024 Term Loan B (3 month CME Term SOFR + 4.500%) | 9.793 | 04-09-31 | 81,000 | 80,696 | |
Collateralized mortgage obligations 8.7% (5.3% of Total investments) | $11,836,450 | ||||
(Cost $15,196,236) | |||||
Commercial and residential 7.1% | 9,703,675 | ||||
Angel Oak Mortgage Trust LLC | |||||
Series 2024-3, Class A1 (4.800% to 2-1-28, then 5.800% thereafter) (C) | 4.800 | 11-26-68 | 170,214 | 163,799 | |
BAMLL Commercial Mortgage Securities Trust | |||||
Series 2019-BPR, Class ENM (C)(G) | 3.843 | 11-05-32 | 175,000 | 66,820 | |
Barclays Commercial Mortgage Trust |
20 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Commercial and residential (continued) | |||||
Series 2019-C5, Class A2 | 3.043 | 11-15-52 | 186,702 | $183,378 | |
BBCMS Mortgage Trust | |||||
Series 2020-C6, Class A2 | 2.690 | 02-15-53 | 155,000 | 144,633 | |
Benchmark Mortgage Trust | |||||
Series 2019-B12, Class A2 | 3.001 | 08-15-52 | 120,152 | 115,340 | |
BX Trust | |||||
Series 2022-CLS, Class A (C) | 5.760 | 10-13-27 | 221,000 | 217,193 | |
Citigroup Commercial Mortgage Trust | |||||
Series 2023-SMRT, Class A (C)(G) | 6.015 | 10-12-40 | 177,000 | 176,093 | |
Commercial Mortgage Trust (Citigroup/Deutsche Bank AG) | |||||
Series 2018-COR3, Class XA IO | 0.572 | 05-10-51 | 3,783,430 | 56,513 | |
Commercial Mortgage Trust (Deutsche Bank AG) | |||||
Series 2013-300P, Class D (C)(G) | 4.540 | 08-10-30 | 340,000 | 269,365 | |
Ellington Financial Mortgage Trust | |||||
Series 2022-4, Class A1 (5.900% to 12-1-26, then 6.900% thereafter) (C) | 5.900 | 09-25-67 | 388,318 | 384,032 | |
Series 2023-1, Class A1 (5.732% to 1-1-27, then 6.732% thereafter) (C) | 5.732 | 02-25-68 | 423,618 | 418,570 | |
GCAT Trust | |||||
Series 2023-NQM2, Class A1 (5.837% to 1-1-27, then 6.837% thereafter) (C) | 5.837 | 11-25-67 | 418,899 | 413,951 | |
Series 2023-NQM3, Class A1 (6.889% to 9-1-27, then 7.889% thereafter) (C) | 6.889 | 08-25-68 | 408,487 | 411,562 | |
GS Mortgage-Backed Securities Trust | |||||
Series 2023-CCM1, Class A1 (C)(G) | 6.650 | 08-25-53 | 401,650 | 401,168 | |
HarborView Mortgage Loan Trust | |||||
Series 2007-3, Class ES IO (C) | 0.350 | 05-19-37 | 2,269,789 | 38,551 | |
Series 2007-4, Class ES IO | 0.350 | 07-19-47 | 2,231,192 | 29,804 | |
Series 2007-6, Class ES IO (C) | 0.342 | 08-19-37 | 2,414,838 | 30,820 | |
Imperial Fund Mortgage Trust | |||||
Series 2023-NQM1, Class A1 (5.941% to 1-1-27, then 6.941% thereafter) (C) | 5.941 | 02-25-68 | 400,379 | 394,779 | |
JPMorgan Chase Commercial Mortgage Securities Trust | |||||
Series 2020-NNN, Class AFX (C) | 2.812 | 01-16-37 | 195,000 | 165,750 | |
Natixis Commercial Mortgage Securities Trust | |||||
Series 2018-ALXA, Class C (C)(G) | 4.460 | 01-15-43 | 175,000 | 147,670 | |
New Residential Mortgage Loan Trust | |||||
Series 2022-NQM4, Class A1 (5.000% to 6-1-26, then 6.000% thereafter) (C) | 5.000 | 06-25-62 | 520,576 | 511,593 | |
OBX Trust | |||||
Series 2022-NQM7, Class A1 (5.110% to 8-1-26, then 6.110% thereafter) (C) | 5.110 | 08-25-62 | 490,348 | 478,047 | |
Series 2023-NQM5, Class A1A (6.567% to 6-1-27, then 7.567% thereafter) (C) | 6.567 | 06-25-63 | 379,803 | 381,560 | |
Starwood Mortgage Residential Trust | |||||
Series 2022-4, Class A1 (5.192% to 6-1-26, then 6.192% thereafter) (C) | 5.192 | 05-25-67 | 406,197 | 396,861 | |
Towd Point Mortgage Trust |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 21 |
Rate (%) | Maturity date | Par value^ | Value | ||
Commercial and residential (continued) | |||||
Series 2019-1, Class A1 (C)(G) | 3.750 | 03-25-58 | 117,437 | $110,016 | |
Verus Securitization Trust | |||||
Series 2023-2, Class A1 (6.193% to 3-1-27, then 7.193% thereafter) (C) | 6.193 | 03-25-68 | 400,469 | 398,543 | |
Series 2023-5, Class A1 (6.476% to 6-1-27, then 7.476% thereafter) (C) | 6.476 | 06-25-68 | 390,425 | 389,986 | |
Series 2023-8, Class A2 (6.664% to 12-1-27, then 7.664% thereafter) (C) | 6.664 | 12-25-68 | 467,045 | 465,413 | |
Series 2023-INV1, Class A1 (5.999% to 2-1-27, then 6.999% thereafter) (C) | 5.999 | 02-25-68 | 1,639,907 | 1,627,413 | |
Series 2024-1, Class A3 (6.118% to 1-1-28, then 7.118% thereafter) (C) | 6.118 | 01-25-69 | 722,274 | 714,452 | |
U.S. Government Agency 1.6% | 2,132,775 | ||||
Government National Mortgage Association | |||||
Series 2012-114, Class IO | 0.624 | 01-16-53 | 430,019 | 6,640 | |
Series 2016-174, Class IO | 0.896 | 11-16-56 | 629,453 | 26,796 | |
Series 2017-109, Class IO | 0.230 | 04-16-57 | 751,020 | 11,152 | |
Series 2017-124, Class IO | 0.627 | 01-16-59 | 633,688 | 21,694 | |
Series 2017-135, Class IO | 0.717 | 10-16-58 | 1,163,198 | 41,755 | |
Series 2017-140, Class IO | 0.486 | 02-16-59 | 567,257 | 16,569 | |
Series 2017-20, Class IO | 0.525 | 12-16-58 | 1,275,966 | 30,597 | |
Series 2017-22, Class IO | 0.752 | 12-16-57 | 356,696 | 13,124 | |
Series 2017-46, Class IO | 0.649 | 11-16-57 | 956,078 | 35,392 | |
Series 2017-61, Class IO | 0.701 | 05-16-59 | 414,320 | 15,034 | |
Series 2017-74, Class IO | 0.433 | 09-16-58 | 1,125,587 | 21,724 | |
Series 2018-114, Class IO | 0.590 | 04-16-60 | 605,827 | 23,666 | |
Series 2018-158, Class IO | 0.789 | 05-16-61 | 1,204,823 | 66,647 | |
Series 2018-35, Class IO | 0.541 | 03-16-60 | 1,545,787 | 51,986 | |
Series 2018-43, Class IO | 0.435 | 05-16-60 | 2,020,741 | 65,455 | |
Series 2018-69, Class IO | 0.616 | 04-16-60 | 618,458 | 27,109 | |
Series 2018-9, Class IO | 0.443 | 01-16-60 | 1,178,812 | 35,854 | |
Series 2019-131, Class IO | 0.802 | 07-16-61 | 911,871 | 51,048 | |
Series 2020-100, Class IO | 0.784 | 05-16-62 | 1,067,829 | 62,610 | |
Series 2020-108, Class IO | 0.847 | 06-16-62 | 1,196,756 | 68,456 | |
Series 2020-114, Class IO | 0.801 | 09-16-62 | 2,551,699 | 142,773 | |
Series 2020-118, Class IO | 0.881 | 06-16-62 | 1,842,491 | 113,210 | |
Series 2020-119, Class IO | 0.606 | 08-16-62 | 1,027,354 | 47,771 | |
Series 2020-120, Class IO | 0.769 | 05-16-62 | 575,307 | 33,340 | |
Series 2020-137, Class IO | 0.796 | 09-16-62 | 2,940,295 | 167,341 | |
Series 2020-150, Class IO | 0.963 | 12-16-62 | 1,637,361 | 105,750 | |
Series 2020-170, Class IO | 0.834 | 11-16-62 | 2,197,041 | 138,485 | |
Series 2021-203, Class IO | 0.869 | 07-16-63 | 1,757,590 | 112,989 | |
Series 2021-3, Class IO | 0.868 | 09-16-62 | 2,819,858 | 177,509 | |
Series 2021-40, Class IO | 0.825 | 02-16-63 | 685,253 | 41,557 | |
Series 2022-150, Class IO | 0.822 | 06-16-64 | 254,112 | 15,304 |
22 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government Agency (continued) | |||||
Series 2022-17, Class IO | 0.802 | 06-16-64 | 1,482,988 | $89,267 | |
Series 2022-181, Class IO | 0.717 | 07-16-64 | 783,953 | 50,252 | |
Series 2022-21, Class IO | 0.784 | 10-16-63 | 650,534 | 38,777 | |
Series 2022-53, Class IO | 0.711 | 06-16-64 | 2,468,140 | 119,558 | |
Series 2023-197, Class IO | 1.318 | 09-16-65 | 513,898 | 45,584 | |
Asset backed securities 9.5% (5.7% of Total investments) | $12,918,035 | ||||
(Cost $13,289,052) | |||||
Asset backed securities 9.5% | 12,918,035 | ||||
ABPCI Direct Lending Fund I, Ltd. | |||||
Series 2020-1A, Class A (C) | 3.199 | 12-20-30 | 86,880 | 83,926 | |
Aligned Data Centers Issuer LLC | |||||
Series 2023-2A, Class A2 (C) | 6.500 | 11-16-48 | 164,000 | 164,652 | |
Ally Auto Receivables Trust | |||||
Series 2022-3, Class A4 | 5.070 | 06-15-31 | 500,000 | 495,232 | |
American Express Credit Corp. | |||||
Series 2023-4, Class A | 5.150 | 09-15-30 | 670,000 | 669,051 | |
Applebee’s Funding LLC | |||||
Series 2023-1A, Class A2 (C) | 7.824 | 03-05-53 | 146,000 | 148,042 | |
Aqua Finance Trust | |||||
Series 2021-A, Class A (C) | 1.540 | 07-17-46 | 78,152 | 69,672 | |
ARI Fleet Lease Trust | |||||
Series 2023-B, Class A2 (C) | 6.050 | 07-15-32 | 440,000 | 441,276 | |
Avis Budget Rental Car Funding AESOP LLC | |||||
Series 2023-1A, Class A (C) | 5.250 | 04-20-29 | 580,000 | 569,534 | |
Carmax Auto Owner Trust | |||||
Series 2023-3, Class A4 | 5.260 | 02-15-29 | 100,000 | 99,284 | |
CARS-DB4 LP | |||||
Series 2020-1A, Class B1 (C) | 4.170 | 02-15-50 | 293,000 | 283,534 | |
CLI Funding VIII LLC | |||||
Series 2023-1A, Class A (C) | 6.310 | 06-18-48 | 436,479 | 432,509 | |
Compass Datacenters Issuer II LLC | |||||
Series 2024-1A, Class A1 (C) | 5.250 | 02-25-49 | 159,000 | 153,760 | |
ContiMortgage Home Equity Loan Trust | |||||
Series 1995-2, Class A5 | 8.100 | 08-15-25 | 14,735 | 6,791 | |
CyrusOne Data Centers Issuer I LLC | |||||
Series 2023-1A, Class A2 (C) | 4.300 | 04-20-48 | 262,000 | 243,119 | |
DB Master Finance LLC | |||||
Series 2017-1A, Class A2II (C) | 4.030 | 11-20-47 | 159,800 | 150,566 | |
Dell Equipment Finance Trust | |||||
Series 2023-2, Class A3 (C) | 5.650 | 01-22-29 | 400,000 | 399,525 | |
Diamond Infrastructure Funding LLC | |||||
Series 2021-1A, Class C (C) | 3.475 | 04-15-49 | 80,000 | 71,057 | |
Domino’s Pizza Master Issuer LLC | |||||
Series 2017-1A, Class A23 (C) | 4.118 | 07-25-47 | 502,900 | 475,545 | |
Five Guys Holdings, Inc. | |||||
Series 2023-1A, Class A2 (C) | 7.549 | 01-26-54 | 197,000 | 198,329 | |
Ford Credit Auto Lease Trust | |||||
Series 2023-B, Class A4 | 5.870 | 01-15-27 | 175,000 | 175,656 | |
Ford Credit Auto Owner Trust |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 23 |
Rate (%) | Maturity date | Par value^ | Value | ||
Asset backed securities (continued) | |||||
Series 2022-D, Class A3 | 5.270 | 05-17-27 | 500,000 | $498,560 | |
Series 2023-2, Class A (C) | 5.280 | 02-15-36 | 512,000 | 508,844 | |
GM Financial Consumer Automobile Receivables Trust | |||||
Series 2023-1, Class A4 | 4.590 | 07-17-28 | 290,000 | 284,357 | |
GM Financial Revolving Receivables Trust | |||||
Series 2024-1, Class A (C) | 4.980 | 12-11-36 | 127,000 | 124,847 | |
GMF Floorplan Owner Revolving Trust | |||||
Series 2023-2, Class A (C) | 5.340 | 06-15-30 | 675,000 | 670,997 | |
Golub Capital Partners Funding, Ltd. | |||||
Series 2020-1A, Class A2 (C) | 3.208 | 01-22-29 | 157,930 | 150,499 | |
Series 2021-1A, Class A2 (C) | 2.773 | 04-20-29 | 231,277 | 218,198 | |
HI-FI Music IP Issuer LP | |||||
Series 2022-1A, Class A2 (C) | 3.939 | 02-01-62 | 245,000 | 227,840 | |
Jack in the Box Funding LLC | |||||
Series 2019-1A, Class A23 (C) | 4.970 | 08-25-49 | 81,480 | 76,232 | |
Mercedes-Benz Auto Receivables Trust | |||||
Series 2022-1, Class A4 | 5.250 | 02-15-29 | 500,000 | 497,561 | |
Series 2023-1, Class A4 | 4.310 | 04-16-29 | 290,000 | 282,427 | |
MetroNet Infrastructure Issuer LLC | |||||
Series 2023-1A, Class A2 (C) | 6.560 | 04-20-53 | 170,000 | 169,916 | |
MVW LLC | |||||
Series 2020-1A, Class D (C) | 7.140 | 10-20-37 | 680,233 | 657,615 | |
Neighborly Issuer LLC | |||||
Series 2021-1A, Class A2 (C) | 3.584 | 04-30-51 | 461,720 | 406,028 | |
Series 2022-1A, Class A2 (C) | 3.695 | 01-30-52 | 208,208 | 179,000 | |
New Economy Assets Phase 1 Sponsor LLC | |||||
Series 2021-1, Class B1 (C) | 2.410 | 10-20-61 | 139,000 | 116,900 | |
NRZ Excess Spread-Collateralized Notes | |||||
Series 2021-FHT1, Class A (C) | 3.104 | 07-25-26 | 34,526 | 32,233 | |
PFS Financing Corp. | |||||
Series 2023-B, Class A (C) | 5.270 | 05-15-28 | 335,000 | 332,497 | |
Retained Vantage Data Centers Issuer LLC | |||||
Series 2023-1A, Class A2A (C) | 5.000 | 09-15-48 | 275,000 | 260,644 | |
SCF Equipment Leasing LLC | |||||
Series 2022-2A, Class A3 (C) | 6.500 | 10-21-30 | 550,000 | 553,701 | |
Servpro Master Issuer LLC | |||||
Series 2024-1A, Class A2 (C) | 6.174 | 01-25-54 | 103,740 | 102,210 | |
Sesac Finance LLC | |||||
Series 2019-1, Class A2 (C) | 5.216 | 07-25-49 | 344,805 | 333,400 | |
SMB Private Education Loan Trust | |||||
Series 2024-A, Class A1A (C) | 5.240 | 03-15-56 | 202,867 | 198,149 | |
Sonic Capital LLC | |||||
Series 2020-1A, Class A2I (C) | 3.845 | 01-20-50 | 305,377 | 287,192 | |
Sunbird Engine Finance LLC | |||||
Series 2020-1A, Class A (C) | 3.671 | 02-15-45 | 147,438 | 133,458 | |
VR Funding LLC | |||||
Series 2020-1A, Class A (C) | 2.790 | 11-15-50 | 220,490 | 195,935 | |
Willis Engine Structured Trust V | |||||
Series 2020-A, Class A (C) | 3.228 | 03-15-45 | 95,876 | 87,735 | |
24 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Common stocks 0.1% (0.0% of Total investments) | $83,809 | ||||
(Cost $335,737) | |||||
Energy 0.0% | 20,797 | ||||
Oil, gas and consumable fuels 0.0% | |||||
Altera Infrastructure LP (H) | 743 | 20,797 | |||
Utilities 0.1% | 63,012 | ||||
Multi-utilities 0.1% | |||||
Algonquin Power & Utilities Corp. | 2,950 | 63,012 | |||
Preferred securities 0.2% (0.2% of Total investments) | $320,930 | ||||
(Cost $394,505) | |||||
Communication services 0.1% | 101,006 | ||||
Wireless telecommunication services 0.1% | |||||
Telephone & Data Systems, Inc., 6.625% (B) | 5,825 | 101,006 | |||
Financials 0.1% | 219,924 | ||||
Banks 0.1% | |||||
Wells Fargo & Company, 7.500% | 192 | 219,924 | |||
Yield (%) | Shares | Value | |||
Short-term investments 3.8% (2.3% of Total investments) | $5,122,401 | ||||
(Cost $5,123,346) | |||||
Short-term funds 3.8% | 5,122,401 | ||||
John Hancock Collateral Trust (I) | 5.4256(J) | 512,404 | 5,122,401 |
Total investments (Cost $237,733,730) 165.5% | $225,412,880 | ||||
Other assets and liabilities, net (65.5%) | (89,216,896) | ||||
Total net assets 100.0% | $136,195,984 |
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 | |
CME | CME Group Published Rates |
CMT | Constant Maturity Treasury |
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 |
SOFR | Secured Overnight Financing Rate |
(A) | All or a portion of this security is on loan as of 4-30-24, 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 4-30-24 was $112,757,646. A portion of the securities pledged as collateral were loaned pursuant to the Liquidity Agreement. The value of securities on loan amounted to $17,342,771. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 25 |
(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 $47,534,949 or 34.9% of the fund’s net assets as of 4-30-24. |
(D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
(E) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
(F) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
(G) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
(H) | Non-income producing security. |
(I) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |
(J) | The rate shown is the annualized seven-day yield as of 4-30-24. |
26 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
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 | 25,000,000 | USD | Fixed 4.191% | USD SOFR Compounded OIS(a) | Annual | Quarterly | Jun 2026 | — | $(406,465) | $(406,465) |
Centrally cleared | 25,000,000 | USD | Fixed 3.908% | USD SOFR Compounded OIS(a) | Annual | Quarterly | Jan 2027 | — | 327,369 | 327,369 |
— | $(79,096) | $(79,096) |
(a) | At 4-30-24, the overnight SOFR was 5.340%. |
Derivatives Currency Abbreviations | |
USD | U.S. Dollar |
Derivatives Abbreviations | |
OIS | Overnight Index Swap |
OTC | Over-the-counter |
SOFR | Secured Overnight Financing Rate |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 27 |
Assets | |
Unaffiliated investments, at value (Cost $232,610,384) | $220,290,479 |
Affiliated investments, at value (Cost $5,123,346) | 5,122,401 |
Total investments, at value (Cost $237,733,730) | 225,412,880 |
Receivable for centrally cleared swaps | 900,352 |
Cash | 84,234 |
Interest receivable | 1,821,643 |
Receivable for investments sold | 113,133 |
Other assets | 25,292 |
Total assets | 228,357,534 |
Liabilities | |
Liquidity agreement | 91,300,000 |
Payable for investments purchased | 325,811 |
Interest payable | 458,022 |
Payable to affiliates | |
Accounting and legal services fees | 5,067 |
Other liabilities and accrued expenses | 72,650 |
Total liabilities | 92,161,550 |
Net assets | $136,195,984 |
Net assets consist of | |
Paid-in capital | $175,067,706 |
Total distributable earnings (loss) | (38,871,722) |
Net assets | $136,195,984 |
Net asset value per share | |
Based on 11,646,585 shares of beneficial interest outstanding - unlimited number of shares authorized with no par value | $11.69 |
28 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Interest | $5,912,815 |
Dividends from affiliated investments | 67,020 |
Dividends | 24,298 |
Less foreign taxes withheld | (1,703) |
Total investment income | 6,002,430 |
Expenses | |
Investment management fees | 628,740 |
Interest expense | 2,777,853 |
Accounting and legal services fees | 13,926 |
Transfer agent fees | 27,918 |
Trustees’ fees | 21,424 |
Custodian fees | 13,918 |
Printing and postage | 17,015 |
Professional fees | 47,495 |
Stock exchange listing fees | 11,830 |
Other | 6,274 |
Total expenses | 3,566,393 |
Less expense reductions | (9,311) |
Net expenses | 3,557,082 |
Net investment income | 2,445,348 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | (3,005,211) |
Affiliated investments | 1,260 |
Swap contracts | 1,013,167 |
(1,990,784) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 11,049,966 |
Affiliated investments | (880) |
Swap contracts | (177,273) |
10,871,813 | |
Net realized and unrealized gain | 8,881,029 |
Increase in net assets from operations | $11,326,377 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 29 |
Six months ended 4-30-24 (unaudited) | Year ended 10-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $2,445,348 | $4,268,263 |
Net realized loss | (1,990,784) | (13,961,282) |
Change in net unrealized appreciation (depreciation) | 10,871,813 | 9,966,308 |
Increase in net assets resulting from operations | 11,326,377 | 273,289 |
Distributions to shareholders | ||
From earnings | (2,762,571) | (4,826,346) |
Total distributions | (2,762,571) | (4,826,346) |
Total increase (decrease) | 8,563,806 | (4,553,057) |
Net assets | ||
Beginning of period | 127,632,178 | 132,185,235 |
End of period | $136,195,984 | $127,632,178 |
Share activity | ||
Shares outstanding | ||
Beginning of period | 11,646,585 | 11,646,585 |
End of period | 11,646,585 | 11,646,585 |
30 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Cash flows from operating activities | |
Net increase in net assets from operations | $11,326,377 |
Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities: | |
Long-term investments purchased | (97,845,235) |
Long-term investments sold | 99,106,500 |
Net purchases and sales of short-term investments | 1,861,073 |
Net amortization of premium (discount) | 433,307 |
(Increase) Decrease in assets: | |
Receivable for centrally cleared swaps | (427,149) |
Dividends and interest receivable | (120,998) |
Receivable for investments sold | 2,760,464 |
Receivable for delayed delivery securities sold | 4,880,118 |
Other assets | (10,359) |
Increase (Decrease) in liabilities: | |
Payable for investments purchased | (4,095,253) |
Payable for delayed delivery securities purchased | (6,973,314) |
Interest payable | (15,267) |
Payable to affiliates | (4,362) |
Other liabilities and accrued expenses | (24,363) |
Net change in unrealized (appreciation) depreciation on: | |
Investments | (11,049,086) |
Net realized (gain) loss on: | |
Investments | 3,007,789 |
Net cash provided by operating activities | $2,810,242 |
Cash flows provided by (used in) financing activities | |
Distributions to shareholders | $(2,762,571) |
Net cash used in financing activities | $(2,762,571) |
Net increase in cash | $47,671 |
Cash at beginning of period | $36,563 |
Cash at end of period | $84,234 |
Supplemental disclosure of cash flow information: | |
Cash paid for interest | $(2,793,120) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 31 |
Period ended | 4-30-241 | 10-31-23 | 10-31-22 | 10-31-21 | 10-31-20 | 10-31-19 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.96 | $11.35 | $15.90 | $15.95 | $15.57 | $14.22 |
Net investment income2 | 0.21 | 0.37 | 0.56 | 0.71 | 0.65 | 0.60 |
Net realized and unrealized gain (loss) on investments | 0.76 | (0.35) | (4.19) | 0.12 | 0.48 | 1.42 |
Total from investment operations | 0.97 | 0.02 | (3.63) | 0.83 | 1.13 | 2.02 |
Less distributions | ||||||
From net investment income | (0.24) | (0.41) | (0.70) | (0.84) | (0.75) | (0.67) |
From net realized gain | — | — | (0.22) | (0.04) | — | — |
Total distributions | (0.24) | (0.41) | (0.92) | (0.88) | (0.75) | (0.67) |
Net asset value, end of period | $11.69 | $10.96 | $11.35 | $15.90 | $15.95 | $15.57 |
Per share market value, end of period | $11.03 | $9.80 | $10.48 | $15.46 | $15.44 | $14.58 |
Total return at net asset value (%)3,4 | 8.985 | 0.35 | (23.60) | 5.36 | 7.78 | 14.84 |
Total return at market value (%)3 | 15.005 | (2.82) | (27.45) | 5.83 | 11.42 | 16.37 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $136 | $128 | $132 | $185 | $186 | $181 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 5.206 | 4.90 | 2.10 | 1.30 | 1.67 | 2.55 |
Expenses including reductions7 | 5.196 | 4.89 | 2.08 | 1.29 | 1.66 | 2.54 |
Net investment income | 3.576 | 3.12 | 4.13 | 4.42 | 4.15 | 3.99 |
Portfolio turnover (%) | 44 | 148 | 101 | 60 | 66 | 50 |
Senior securities | ||||||
Total debt outstanding end of period (in millions) | $91 | $91 | $91 | $91 | $91 | $91 |
Asset coverage per $1,000 of debt8 | $2,492 | $2,398 | $2,448 | $3,028 | $3,035 | $2,986 |
1 | Six months ended 4-30-24. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total return based on net asset value reflects changes in the fund’s net asset value during each period. Total return based on market value reflects changes in market value. Each figure assumes that distributions from income, capital gains and tax return of capital, if any, were reinvested. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | Expenses including reductions excluding interest expense were 1.14% (annualized), 1.17%, 1.01%, 0.94%, 0.95% and 0.98% for the periods ended 4-30-24, 10-31-23, 10-31-22, 10-30-21, 10-31-20 and 10-31-19, respectively. |
8 | Asset coverage equals the total net assets plus borrowings divided by the borrowings of the fund outstanding at period end (Note 8). As debt outstanding changes, the level of invested assets may change accordingly. Asset coverage ratio provides a measure of leverage. |
32 | JOHN HANCOCK Income Securities Trust | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
SEMIANNUAL REPORT | JOHN HANCOCK Income Securities Trust | 33 |
Total value at 4-30-24 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
U.S. Government and Agency obligations | $104,393,775 | — | $104,393,775 | — |
Corporate bonds | 90,530,037 | — | 90,530,037 | — |
Municipal bonds | 126,747 | — | 126,747 | — |
Term loans | 80,696 | — | 80,696 | — |
Collateralized mortgage obligations | 11,836,450 | — | 11,836,450 | — |
Asset backed securities | 12,918,035 | — | 12,918,035 | — |
Common stocks | 83,809 | $63,012 | 20,797 | — |
Preferred securities | 320,930 | 320,930 | — | — |
Short-term investments | 5,122,401 | 5,122,401 | — | — |
Total investments in securities | $225,412,880 | $5,506,343 | $219,906,537 | — |
Derivatives: | ||||
Assets | ||||
Swap contracts | $327,369 | — | $327,369 | — |
Liabilities | ||||
Swap contracts | (406,465) | — | (406,465) | — |
34 | JOHN HANCOCK Income Securities Trust | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Income Securities Trust | 35 |
36 | JOHN HANCOCK Income Securities Trust | SEMIANNUAL REPORT |
Risk | Statement of assets and liabilities location | Financial instruments location | Assets derivatives fair value | Liabilities derivatives fair value |
Interest rate | Swap contracts, at value1 | Interest rate swaps | $327,369 | $(406,465) |
1 | Reflects cumulative value of swap contracts. Receivable/payable for centrally cleared swaps, which includes value and margin, are shown separately on the Statement of assets and liabilities. |
Statement of operations location - Net realized gain (loss) on: | |
Risk | Swap contracts |
Interest rate | $1,013,167 |
Statement of operations location - Change in net unrealized appreciation (depreciation) of: | |
Risk | Swap contracts |
Interest rate | $(177,273) |
SEMIANNUAL REPORT | JOHN HANCOCK Income Securities Trust | 37 |
38 | JOHN HANCOCK Income Securities Trust | SEMIANNUAL REPORT |
• | the likelihood of greater volatility of NAV and market price of shares; |
• | fluctuations in the interest rate paid for the use of the LA; |
• | increased operating costs, which may reduce the fund’s total return; |
• | the potential for a decline in the value of an investment acquired through leverage, while the fund’s obligations under such leverage remains fixed; and |
• | the fund is more likely to have to sell securities in a volatile market in order to meet asset coverage or other debt compliance requirements. |
SEMIANNUAL REPORT | JOHN HANCOCK Income Securities Trust | 39 |
40 | JOHN HANCOCK Income Securities Trust | SEMIANNUAL REPORT |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust | 512,404 | $6,983,095 | $30,844,712 | $(32,705,786) | $1,260 | $(880) | $67,020 | — | $5,122,401 |
SEMIANNUAL REPORT | JOHN HANCOCK Income Securities Trust | 41 |
42 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 43 |
44 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 45 |
46 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT |
Payment Date | Income Distributions |
December 29, 2023 | $0.1277 |
March 28, 2024 | 0.1095 |
Total | $0.2372 |
Computershare
P.O. Box 43006
Providence, RI 02940-3078
Computershare
150 Royall Street, Suite 101
Canton, MA 02021
SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 47 |
Total votes for the nominee | Total votes withheld from the nominee | |
Independent Trustees | ||
James R. Boyle | 9,211,253.742 | 207,977.629 |
William H. Cunningham | 9,179,155.710 | 240,075.661 |
Noni L. Ellison | 9,212,159.283 | 207,072.088 |
Grace K. Fey | 9,195,051.372 | 224,179.999 |
Dean C. Garfield | 9,188,892.845 | 230,338.526 |
Deborah C. Jackson | 9,187,761.251 | 231,470.120 |
Hassell H. McClellan | 9,185,545.507 | 233,685.864 |
Steven R. Pruchansky | 9,200,892.966 | 218,338.405 |
Frances G. Rathke | 9,200,192.845 | 219,038.526 |
Gregory A. Russo | 9,207,780.628 | 211,450.743 |
Non-Independent Trustees | ||
Andrew G. Arnott | 9,208,741.845 | 210,489.526 |
Paul Lorentz | 9,213,294.966 | 205,936.405 |
48 | JOHN HANCOCK INCOME SECURITIES TRUST | SEMIANNUAL REPORT |
You can also contact us: | ||
800-852-0218 | Regular mail: | Express mail: |
jhinvestments.com | Computershare P.O. Box 43006 Providence, RI 02940-3078 | Computershare 150 Royall St., Suite 101 Canton, MA 02021 |
SEMIANNUAL REPORT | JOHN HANCOCK INCOME SECURITIES TRUST | 49 |
We search the world to find proven portfolio teams with specialized
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a diverse set of investments backed by some of the world’s best
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ITEM 2. CODE OF ETHICS.
Not Applicable.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not Applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not Applicable.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable.
ITEM 6. SCHEDULE OF INVESTMENTS.
(a)Not applicable.
(b)Not applicable.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED- END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
(a)Not applicable.
(b)
|
|
|
Total number of |
Maximum number of |
|
Total number of |
Average price per |
shares purchased |
shares that may yet |
|
as part of publicly |
be purchased under |
||
Period |
shares purchased |
share |
announced plans* |
the plans |
Nov-23 |
- |
- |
- |
1,164,659 |
Dec-23 |
- |
- |
- |
1,164,659 |
Jan-24 |
- |
- |
- |
1,164,659 |
Feb-24 |
- |
- |
- |
1,164,659 |
Mar-24 |
- |
- |
- |
1,164,659 |
Apr-24 |
- |
- |
- |
1,164,659 |
Total |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
*In March 2015, the Board of Trustees approved a share repurchase plan, which has been subsequently reviewed and approved by the Board of Trustees. Under the current share repurchase plan, the Fund may purchase in the open market up to 10% of its outstanding common shares as of December 31, 2023. The current share plan will remain in effect between January 1, 2024 and December 31, 2024.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
The registrant has adopted procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached “John Hancock Funds – Nominating, Governance and Administration Committee Charter.”
ITEM 11. CONTROLS AND PROCEDURES.
(a)Based upon their evaluation of the registrant's disclosure controls and procedures as
conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
(b)There were no changes in the registrant's internal control over financial reporting that
occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
The Fund did not participate directly in securities lending activities. See Note 7 to financial statements in Item 1.
ITEM 13. EXHIBITS.
(a)(1) Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
John Hancock Income Securities Trust
By: |
/s/ Kristie M. Feinberg |
|
------------------------------ |
|
Kristie M. Feinberg |
|
President |
Date: |
June 26, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: |
/s/ Kristie M. Feinberg |
|
------------------------------ |
|
Kristie M. Feinberg |
|
President |
Date: |
June 26, 2024 |
By: |
/s/ Charles A. Rizzo |
|
------------------------------- |
|
Charles A. Rizzo |
|
Chief Financial Officer |
Date: |
June 26, 2024 |