John Hancock

Investors Trust

Quarterly portfolio holdings 7/31/16

	As of 7-31-16 (unaudited)
										Rate (%				)		Maturity date			Par value^									Value
	Corporate bonds 136.2% (88.0% of Total investments)																											$210,900,348
	(Cost $211,192,265)
	Consumer discretionary 23.2%																											35,906,665
	Auto components 2.5%
	American Axle & Manufacturing, Inc.									6.250						03-15-21									1,000,000			1,045,000
	Lear Corp. (Z)									5.250						01-15-25									1,210,000			1,291,653
	Nemak SAB de CV (S)									5.500						02-28-23									550,000			570,625
	The Goodyear Tire & Rubber Company									5.000						05-31-26									950,000			1,001,063
	Automobiles 1.0%
	Fiat Chrysler Automobiles NV (L)(Z)									5.250						04-15-23									700,000			707,000
	General Motors Company (Z)									4.000						04-01-25									400,000			413,173
	General Motors Financial Company, Inc. (Z)									3.450						04-10-22									380,000			387,856
	Hotels, restaurants and leisure 2.4%
	GLP Capital LP (Z)									5.375						04-15-26									450,000			479,813
	International Game Technology PLC (S)(Z)									6.500						02-15-25									1,785,000			1,883,175
	Mohegan Tribal Gaming Authority (L)(Z)									9.750						09-01-21									1,240,000			1,334,550
	Waterford Gaming LLC (H)(S)									8.625						09-15-14									377,791			0
	Household durables 1.0%
	Lennar Corp. (Z)									4.875						12-15-23									650,000			671,125
	Toll Brothers Finance Corp. (Z)									4.875						11-15-25									875,000			894,688
	Internet and catalog retail 1.3%
	Expedia, Inc. (S)(Z)									5.000						02-15-26									1,000,000			1,065,524
	QVC, Inc. (Z)									5.950						03-15-43									1,000,000			968,154
	Media 11.6%
	Cablevision Systems Corp.									7.750						04-15-18									450,000			482,063
	Cablevision Systems Corp.									8.000						04-15-20									750,000			781,875
	CCO Holdings LLC									5.125						02-15-23									1,350,000			1,396,406
	CCO Holdings LLC (S)									5.750						02-15-23									1,500,000			1,582,500
	Cengage Learning, Inc. (S)									9.500						06-15-24									850,000			889,313
	Grupo Televisa SAB									4.625						01-30-26									725,000			804,319
	Grupo Televisa SAB									8.490						05-11-37								MXN	11,700,000			619,347
	McGraw-Hill Global Education Holdings LLC (L)(S)(Z)									7.875						05-15-24									885,000			934,781
	MDC Partners, Inc. (S)									6.500						05-01-24									955,000			923,963
	Myriad International Holdings BV (S)									5.500						07-21-25									915,000			977,906
	Nielsen Finance LLC (L)(S)(Z)									5.000						04-15-22									800,000			825,000
	Outfront Media Capital LLC									5.250						02-15-22									900,000			929,250
	Outfront Media Capital LLC									5.875						03-15-25									485,000			517,131
	Sirius XM Radio, Inc. (S)									5.375						07-15-26									720,000			733,954
	Sirius XM Radio, Inc. (S)									6.000						07-15-24									925,000			983,969
	Time Warner Cable, Inc. (Z)									4.500						09-15-42									1,515,000			1,472,566
	Time Warner Cable, Inc. (Z)									8.250						04-01-19									375,000			435,415
	Viacom, Inc. (Z)									4.375						03-15-43									1,000,000			863,938
	Virgin Media Secured Finance PLC (S)									5.375						04-15-21									900,000			936,000
	WMG Acquisition Corp. (S)									6.000						01-15-21									868,000			902,720
	Specialty retail 2.4%
	Group 1 Automotive, Inc. (S)(Z)									5.250						12-15-23									1,500,000			1,488,750
	Jo-Ann Stores Holdings, Inc., PIK (S)									9.750						10-15-19									500,000			440,000
	L Brands, Inc.									6.950						03-01-33									1,710,000			1,727,100
	Textiles, apparel and luxury goods 1.0%
	PVH Corp. (Z)									4.500						12-15-22									1,500,000			1,545,000

										Rate (%				)		Maturity date			Par value^									Value
	Consumer staples 5.4%																											$8,374,222
	Beverages 0.6%
	Corporacion Lindley SA (S)									4.625						04-12-23									73,000			75,738
	SABMiller Holdings, Inc. (S)(Z)									3.750						01-15-22									750,000			814,943
	Food and staples retailing 2.5%
	Office Depot de Mexico SA de CV (S)									6.875						09-20-20									1,610,000			1,702,575
	Performance Food Group, Inc. (S)									5.500						06-01-24									865,000			893,113
	SUPERVALU, Inc. (L)(Z)									7.750						11-15-22									650,000			565,500
	Tops Holding LLC (S)									8.000						06-15-22									860,000			748,200
	Food products 0.7%
	Fage International SA (S)									5.625						08-15-26									430,000			439,138
	Post Holdings, Inc. (L)(Z)									7.375						02-15-22									615,000			658,481
	Personal products 1.0%
	Revlon Consumer Products Corp.									5.750						02-15-21									1,600,000			1,624,000
	Tobacco 0.6%
	Reynolds American, Inc. (Z)									6.875						05-01-20									720,000			852,534
	Energy 17.9%																											27,687,502
	Energy equipment and services 1.2%
	Chaparral Energy, Inc. (H)									7.625						11-15-22									785,000			427,825
	Sabine Pass Liquefaction LLC (S)									5.875						06-30-26									610,000			626,013
	Weatherford International, Ltd. (L)(Z)									8.250						06-15-23									905,000			843,913
	Oil, gas and consumable fuels 16.7%
	Anadarko Petroleum Corp. (L)(Z)									5.550						03-15-26									530,000			578,776
	Antero Resources Corp.									5.125						12-01-22									552,000			514,740
	Cenovus Energy, Inc. (Z)									3.800						09-15-23									875,000			842,360
	Cheniere Corpus Christi Holdings LLC (S)									7.000						06-30-24									800,000			836,000
	Continental Resources, Inc. (L)(Z)									4.500						04-15-23									500,000			452,500
	Enbridge Energy Partners LP (Z)									5.875						10-15-25									2,005,000			2,206,374
	Energy XXI Gulf Coast, Inc. (H)(S)									11.000						03-15-20									870,000			304,500
	Freeport-McMoran Oil & Gas LLC									6.875						02-15-23									1,340,000			1,296,450
	Global Partners LP (L)(Z)									6.250						07-15-22									1,225,000			1,047,375
	Kinder Morgan Energy Partners LP (Z)									4.250						09-01-24									1,310,000			1,340,899
	Kinder Morgan, Inc. (Z)									5.550						06-01-45									1,055,000			1,058,431
	Lukoil International Finance BV (S)									4.563						04-24-23									1,000,000			1,012,500
	Oasis Petroleum, Inc. (L)(Z)									6.875						03-15-22									824,000			718,940
	Pacific Exploration and Production Corp. (H)(S)									5.125						03-28-23									705,000			116,325
	PBF Holding Company LLC (S)									7.000						11-15-23									675,000			644,625
	Permian Resources LLC (S)									7.125						11-01-20									500,000			291,250
	Petrobras Global Finance BV (L)(Z)									6.850						06-05-2115									1,535,000			1,171,973
	Petroleos Mexicanos (L)(Z)									5.500						01-21-21									755,000			804,075
	SandRidge Energy, Inc. (H)(S)									8.750						06-01-20									1,505,000			515,463
	SM Energy Company									5.625						06-01-25									1,755,000			1,456,650
	Sunoco Logistics Partners Operations LP (Z)									3.900						07-15-26									425,000			422,479
	Teekay Offshore Partners LP									6.000						07-30-19									1,085,000			903,263
	Tesoro Corp. (Z)									5.125						04-01-24									650,000			657,313
	Tesoro Logistics LP									6.125						10-15-21									635,000			660,464
	Tesoro Logistics LP									6.250						10-15-22									650,000			676,000
	Tullow Oil PLC (S)									6.000						11-01-20									1,020,000			836,400
	Whiting Petroleum Corp. (L)(Z)									5.750						03-15-21									705,000			590,438
	Whiting Petroleum Corp. (L)(Z)									6.250						04-01-23									360,000			297,450
	Williams Partners LP (Z)									4.875						03-15-24									2,135,000			2,130,493
	WPX Energy, Inc.									5.250						09-15-24									615,000			525,825
	Zhaikmunai LLP (S)									6.375						02-14-19									1,000,000			879,420

										Rate (%				)		Maturity date			Par value^									Value
	Financials 22.3%																											$34,578,370
	Banks 9.0%
	Banco BTG Pactual SA (S)									5.750						09-28-22									960,000			840,000
	Citigroup, Inc. (6.125% to 11-15-20, then 3 month LIBOR + 4.478%) (Q)(Z)									6.125						11-15-20									1,000,000			1,039,780
	CorpGroup Banking SA (S)									6.750						03-15-23									1,000,000			955,000
	Credit Agricole SA (7.875% to 1-23-24, then 5 Year U.S. Swap Rate + 4.898%) (Q)(S)(Z)									7.875						01-23-24									865,000			856,350
	Credit Agricole SA (8.125% to 12-23-25, then 5 Year U.S. Swap Rate + 6.185%) (L)(Q)(S)(Z)									8.125						12-23-25									1,365,000			1,436,663
	HSBC Holdings PLC (6.875% to 6-1-21, then 5 Year U.S. ISDAFIX + 5.514%) (Q)(Z)									6.875						06-01-21									760,000			782,800
	ING Groep NV (6.000% to 4-16-20, then 5 Year U.S. Swap Rate + 4.445%) (Q)(Z)									6.000						04-16-20									1,660,000			1,639,250
	ING Groep NV (6.500% to 4-16-25, then 5 Year U.S. Swap Rate + 4.446%) (Q)(Z)									6.500						04-16-25									700,000			669,375
	JPMorgan Chase & Co. (6.750% to 2-1-24, then 3 month LIBOR + 3.780%) (Q)(Z)									6.750						02-01-24									2,200,000			2,477,530
	Lloyds Banking Group PLC (7.500% to 6-27-24, then 5 Year U.S. Swap Rate + 4.760%) (L)(Q)(Z)									7.500						06-27-24									1,000,000			997,500
	Sberbank of Russia (S)									6.125						02-07-22									1,000,000			1,089,900
	Wells Fargo & Company (5.900% to 6-15-24, then 3 month LIBOR + 3.110%) (Q)(Z)									5.900						06-15-24									1,110,000			1,183,538
	Capital markets 2.4%
	Morgan Stanley (Z)									5.750						01-25-21									1,000,000			1,152,372
	Morgan Stanley (5.550% to 7-15-20, then 3 month LIBOR + 3.810%) (Q)(Z)									5.550						07-15-20									1,160,000			1,174,500
	The Goldman Sachs Group, Inc. (Z)									3.750						05-22-25									375,000			395,924
	The Goldman Sachs Group, Inc. (5.375% to 5-10-20, then 3 month LIBOR + 3.922%) (Q)(Z)									5.375						05-10-20									1,000,000			1,015,305
	Consumer finance 1.7%
	American Express Company (4.900% to 3-15-20, then 3 month LIBOR + 3.285%) (Q)(Z)									4.900						03-15-20									1,095,000			1,056,675
	Enova International, Inc.									9.750						06-01-21									665,000			558,600
	Springleaf Finance Corp. (L)(Z)									6.900						12-15-17									465,000			490,817
	Springleaf Finance Corp.									8.250						10-01-23									500,000			495,000
	Diversified financial services 1.4%
	Leucadia National Corp. (Z)									5.500						10-18-23									600,000			625,961
	Lincoln Finance, Ltd. (S)									7.375						04-15-21									385,000			411,950
	NewStar Financial, Inc. (Z)									7.250						05-01-20									1,145,000			1,095,822
	Insurance 1.7%
	Aquarius & Investments PLC (6.375% to 9-1-19, then 5 Year U.S. Swap Rate + 5.210%)									6.375						09-01-24									1,000,000			1,062,294
	MetLife, Inc. (Z)									6.817						08-15-18									1,000,000			1,110,142
	Symetra Financial Corp. (8.300% to 10-15-17, then 3 month LIBOR + 4.177%) (S)									8.300						10-15-37									520,000			527,150
	Real estate investment trusts 2.9%
	Crown Castle International Corp. (Z)									4.875						04-15-22									1,000,000			1,107,390
	Crown Castle Towers LLC (S)(Z)									4.883						08-15-40									750,000			818,608
	Trust F/1401 (S)									5.250						12-15-24									2,475,000			2,590,088
	Real estate management and development 0.5%
	Rialto Holdings LLC (S)									7.000						12-01-18									732,000			747,079
	Thrifts and mortgage finance 2.7%
	Ladder Capital Finance Holdings LLLP									7.375						10-01-17									550,000			556,875
	Nationstar Mortgage LLC									7.875						10-01-20									505,000			475,013
	Nationstar Mortgage LLC (L)(Z)									9.625						05-01-19									1,150,000			1,187,375
	Quicken Loans, Inc. (S)(Z)									5.750						05-01-25									1,090,000			1,080,463
	Stearns Holdings LLC (S)									9.375						08-15-20									925,000			875,281
	Health care 10.3%																											15,946,777
	Biotechnology 0.6%
	Celgene Corp. (Z)									5.000						08-15-45									750,000			873,419

										Rate (%				)		Maturity date			Par value^									Value
	Health care  (continued)
	Health care providers and services 8.0%
	Community Health Systems, Inc. (L)(Z)									6.875						02-01-22									1,500,000			$1,290,000
	Covenant Surgical Partners, Inc. (S)									8.750						08-01-19									250,000			241,250
	DaVita HealthCare Partners, Inc. (L)(Z)									5.125						07-15-24									1,145,000			1,181,972
	Fresenius US Finance II, Inc. (S)(Z)									4.500						01-15-23									700,000			739,375
	HCA, Inc. (Z)									5.250						04-15-25									1,000,000			1,070,000
	HCA, Inc.									5.375						02-01-25									1,805,000			1,878,337
	HCA, Inc.									7.500						02-15-22									530,000			601,550
	HealthSouth Corp.									5.750						11-01-24									1,545,000			1,602,938
	LifePoint Health, Inc. (Z)									5.875						12-01-23									1,500,000			1,582,500
	Molina Healthcare, Inc. (S)									5.375						11-15-22									700,000			714,000
	Select Medical Corp. (L)(Z)									6.375						06-01-21									1,515,000			1,498,911
	Pharmaceuticals 1.7%
	Mallinckrodt International Finance SA (S)									5.500						04-15-25									1,350,000			1,245,375
	Mallinckrodt International Finance SA (L)(S)(Z)									5.750						08-01-22									1,460,000			1,427,150
	Industrials 10.5%																											16,257,101
	Aerospace and defense 2.4%
	AerCap Ireland Capital, Ltd. (Z)									4.500						05-15-21									1,735,000			1,852,113
	LMI Aerospace, Inc. (L)(Z)									7.375						07-15-19									710,000			722,425
	Textron Financial Corp. (6.000% to 2-15-17, then 3 month LIBOR + 1.735%) (S)									6.000						02-15-67									1,745,000			1,103,713
	Air freight and logistics 0.4%
	XPO Logistics, Inc. (L)(S)(Z)									6.500						06-15-22									570,000			564,300
	Airlines 2.7%
	Air Canada (S)									8.750						04-01-20									1,250,000			1,334,375
	Air Canada 2013-1 Class C Pass Through Trust (S)									6.625						05-15-18									1,550,000			1,600,375
	TAM Capital 3, Inc. (S)									8.375						06-03-21									505,000			515,731
	Tam Capital, Inc.									7.375						04-25-17									500,000			507,500
	UAL 2009-1 Pass Through Trust									10.400						05-01-18									59,693			60,660
	UAL 2009-2A Pass Through Trust									9.750						07-15-18									167,207			172,223
	Building products 0.3%
	Masco Corp. (Z)									4.450						04-01-25									500,000			531,250
	Industrial conglomerates 0.3%
	Odebrecht Finance, Ltd. (S)									8.250						04-25-18								BRL	2,250,000			287,981
	Odebrecht Offshore Drilling Finance, Ltd. (S)									6.750						10-01-23									867,400			138,784
	Machinery 0.9%
	Trinity Industries, Inc. (Z)									4.550						10-01-24									1,375,000			1,326,410
	Road and rail 0.9%
	OPE KAG Finance Sub, Inc. (S)									7.875						07-31-23									900,000			911,250
	The Hertz Corp. (L)(Z)									6.250						10-15-22									500,000			525,000
	Trading companies and distributors 2.6%
	Ahern Rentals, Inc. (S)									7.375						05-15-23									535,000			377,175
	Aircastle, Ltd. (Z)									5.000						04-01-23									340,000			357,408
	Aircastle, Ltd. (Z)									5.125						03-15-21									1,735,000			1,852,113
	United Rentals North America, Inc. (L)(Z)									5.500						07-15-25									1,475,000			1,516,315
	Information technology 7.3%																											11,298,552
	Internet software and services 1.4%
	Ancestry.com Holdings LLC, PIK (S)									9.625						10-15-18									220,000			224,400
	InterActiveCorp (Z)									4.875						11-30-18									517,000			529,925
	Rackspace Hosting, Inc. (S)(Z)									6.500						01-15-24									1,295,000			1,337,088

										Rate (%				)		Maturity date			Par value^									Value
	Information technology  (continued)
	IT services 1.0%
	Sixsigma Networks Mexico SA de CV (S)									8.250						11-07-21									1,500,000			$1,500,000
	Semiconductors and semiconductor equipment 1.8%
	Micron Technology, Inc.									5.500						02-01-25									1,000,000			897,500
	Micron Technology, Inc. (S)									5.625						01-15-26									1,400,000			1,242,500
	Micron Technology, Inc. (S)(Z)									7.500						09-15-23									640,000			699,802
	Software 2.1%
	Activision Blizzard, Inc. (S)(Z)									5.625						09-15-21									1,050,000			1,098,563
	Activision Blizzard, Inc. (S)(Z)									6.125						09-15-23									1,000,000			1,091,250
	Electronic Arts, Inc. (Z)									4.800						03-01-26									1,020,000			1,121,878
	Technology hardware, storage and peripherals 1.0%
	Diamond 1 Finance Corp. (S)									6.020						06-15-26									1,450,000			1,555,646
	Materials 16.6%																											25,765,863
	Building materials 0.8%
	Standard Industries, Inc. (S)(Z)									5.375						11-15-24									1,220,000			1,279,475
	Chemicals 6.0%
	Ashland, Inc. (Z)									6.875						05-15-43									1,800,000			1,944,000
	Braskem Finance, Ltd. (L)(Z)									6.450						02-03-24									760,000			792,300
	CVR Partners LP (S)									9.250						06-15-23									725,000			741,313
	Mexichem SAB de CV (S)									6.750						09-19-42									1,500,000			1,620,000
	Platform Specialty Products Corp. (L)(S)(Z)									6.500						02-01-22									1,615,000			1,401,013
	Rain CII Carbon LLC (S)									8.250						01-15-21									360,000			300,600
	The Chemours Company (L)(Z)									6.625						05-15-23									1,595,000			1,375,688
	The Scotts Miracle-Gro Company (S)									6.000						10-15-23									490,000			523,075
	Tronox Finance LLC (L)(Z)									6.375						08-15-20									500,000			405,000
	Tronox Finance LLC (S)									7.500						03-15-22									280,000			222,250
	Containers and packaging 3.2%
	Ardagh Finance Holdings SA, PIK (L)(S)(Z)									8.625						06-15-19									911,816			939,170
	Ardagh Packaging Finance PLC (S)									7.250						05-15-24									320,000			337,600
	Ball Corp. (Z)									5.250						07-01-25									1,425,000			1,539,000
	Crown Americas LLC									4.500						01-15-23									1,000,000			1,033,750
	Graphic Packaging International, Inc. (Z)									4.875						11-15-22									650,000			680,063
	Reynolds Group Issuer, Inc.									5.750						10-15-20									400,000			413,000
	Metals and mining 5.7%
	AngloGold Ashanti Holdings PLC									5.375						04-15-20									675,000			707,063
	AngloGold Ashanti Holdings PLC									8.500						07-30-20									500,000			531,875
	ArcelorMittal (L)(Z)									7.250						02-25-22									880,000			963,600
	FMG Resources August 2006 Pty, Ltd. (S)(Z)									9.750						03-01-22									670,000			750,400
	Glencore Finance Canada, Ltd. (L)(S)(Z)									3.600						01-15-17									730,000			736,132
	Lundin Mining Corp. (S)									7.500						11-01-20									675,000			712,260
	MMC Norilsk Nickel OJSC (S)									5.550						10-28-20									750,000			790,151
	Rio Tinto Finance USA, Ltd. (Z)									7.125						07-15-28									710,000			942,279
	Severstal OAO (S)									4.450						03-19-18									1,000,000			1,027,500
	Teck Resources, Ltd.									6.250						07-15-41									1,110,000			854,700
	Vale Overseas, Ltd. (L)(Z)									5.875						06-10-21									790,000			819,625
	Paper and forest products 0.9%
	Norbord, Inc. (S)									6.250						04-15-23									735,000			763,481
	Sappi Papier Holding GmbH (S)									7.750						07-15-17									600,000			619,500

										Rate (%				)		Maturity date			Par value^									Value
	Telecommunication services 14.8%																											$22,845,196
	Diversified telecommunication services 11.7%
	CenturyLink, Inc. (L)(Z)									7.500						04-01-24									620,000			661,850
	Cincinnati Bell, Inc.									8.375						10-15-20									1,246,000			1,291,168
	Frontier Communications Corp.									7.125						03-15-19									530,000			567,100
	Frontier Communications Corp.									11.000						09-15-25									1,205,000			1,287,844
	GCI, Inc.									6.875						04-15-25									1,355,000			1,405,813
	Inmarsat Finance PLC (S)(Z)									4.875						05-15-22									1,275,000			1,185,495
	Intelsat Jackson Holdings SA									7.500						04-01-21									840,000			596,400
	Intelsat Luxembourg SA (L)(Z)									6.750						06-01-18									630,000			387,450
	Level 3 Financing, Inc.									5.625						02-01-23									825,000			866,250
	SBA Communications Corp.									4.875						07-15-22									1,135,000			1,163,375
	SFR Group SA (S)									6.250						05-15-24									1,675,000			1,612,188
	T-Mobile USA, Inc.									6.250						04-01-21									900,000			941,625
	T-Mobile USA, Inc.									6.500						01-15-26									2,000,000			2,166,000
	T-Mobile USA, Inc.									6.625						04-01-23									895,000			960,604
	Telecom Italia Capital SA									6.000						09-30-34									720,000			705,600
	Wind Acquisition Finance SA (S)									7.375						04-23-21									1,000,000			995,000
	Windstream Services LLC									7.500						06-01-22									1,375,000			1,265,000
	Wireless telecommunication services 3.1%
	America Movil SAB de CV									6.000						06-09-19								MXN	8,670,000			456,389
	America Movil SAB de CV									6.450						12-05-22								MXN	10,370,000			531,221
	Colombia Telecomunicaciones SA ESP (S)									5.375						09-27-22									1,000,000			975,000
	Digicel, Ltd. (L)(S)(Z)									6.000						04-15-21									405,000			378,675
	Sprint Communications, Inc.									6.000						11-15-22									935,000			802,118
	Telefonica Celular del Paraguay SA (S)									6.750						12-13-22									1,000,000			1,035,000
	VimpelCom Holdings BV (S)									7.504						03-01-22									550,000			608,031
	Utilities 7.9%																											12,240,100
	Electric utilities 3.7%
	Abengoa Transmision Sur SA (S)									6.875						04-30-43									2,030,000			2,154,338
	Beaver Valley II Funding Corp.									9.000						06-01-17									5,000			5,025
	BVPS II Funding Corp.									8.890						06-01-17									30,000			30,855
	Empresa Electrica Angamos SA (S)									4.875						05-25-29									1,000,000			1,023,932
	FPL Energy National Wind LLC (S)									5.608						03-10-24									58,998			56,048
	Israel Electric Corp., Ltd. (S)									5.000						11-12-24									1,000,000			1,090,500
	Israel Electric Corp., Ltd. (S)									6.700						02-10-17									1,000,000			1,022,000
	Talen Energy Supply LLC (S)									4.625						07-15-19									175,000			165,813
	W3A Funding Corp.									8.090						01-02-17									180,345			180,238
	Gas utilities 1.3%
	AmeriGas Finance LLC (Z)									7.000						05-20-22									1,000,000			1,053,750
	AmeriGas Partners LP									5.625						05-20-24									900,000			931,500
	Independent power and renewable electricity producers 2.9%
	Dynegy, Inc. (L)(Z)									7.625						11-01-24									1,085,000			1,060,588
	NRG Energy, Inc.									6.250						07-15-22									1,320,000			1,326,600
	NRG Energy, Inc. (S)									6.625						01-15-27									600,000			593,250
	NRG Energy, Inc. (S)									7.250						05-15-26									450,000			461,813
	NRG Yield Operating LLC (L)(Z)									5.375						08-15-24									1,060,000			1,083,850
	Term loans (M) 0.4% (0.3% of Total investments)																											$658,232
	(Cost $916,127)
	Industrials 0.4%																											658,232
	Airlines 0.0%
	Global Aviation Holdings, Inc. (H)									0.000						07-13-17			51,038									0

										Rate (%				)		Maturity date			Par value^									Value
	Industrials  (continued)
	Airlines  (continued)
	Global Aviation Holdings, Inc. (H)									0.000						02-13-18			514,063									$0
	Machinery 0.4%
	Gardner Denver, Inc.									4.250						07-30-20			692,875									658,232
	Capital preferred securities (a) 0.6% (0.4% of Total investments)																											$960,000
	(Cost $1,146,884)
	Financials 0.6%																											960,000
	Diversified financial services 0.6%
	ILFC E-Capital Trust II (P)(S)									4.230						12-21-65			1,200,000									960,000
	U.S. Government and Agency obligations 7.7% (5.0% of Total investments)																											$11,978,744
	(Cost $11,572,747)
	U.S. Government Agency 7.7%																											11,978,744
	Federal National Mortgage Association
				15 Yr Pass Thru (L) (Z)						4.000						12-01-24			964,491									1,032,571
				30 Yr Pass Thru (L) (Z)						4.000						12-01-40			2,576,285									2,823,230
				30 Yr Pass Thru (L) (Z)						4.000						09-01-41			2,508,905									2,718,814
				30 Yr Pass Thru (L) (Z)						4.000						10-01-41			1,357,099									1,477,426
				30 Yr Pass Thru						4.000						01-01-42			683,406									744,428
				30 Yr Pass Thru (L) (Z)						4.500						10-01-40			1,790,543									1,975,484
				30 Yr Pass Thru						5.000						04-01-41			422,410									480,871
				30 Yr Pass Thru						5.500						08-01-40			141,693									160,063
				30 Yr Pass Thru						6.500						01-01-39			486,489									565,857
	Foreign government obligations 2.3% (1.4% of Total investments)																											$3,473,297
	(Cost $3,447,774)
	Argentina 0.9%																											1,303,200
	Republic of Argentina Bond (S)									7.500						04-22-26									1,200,000			1,303,200
	Dominican Republic 0.7%																											1,122,500
	Government of Dominican Republic Bond (S)									6.875						01-29-26									1,000,000			1,122,500
	Mexico 0.7%																											1,047,597
	Government of Mexico Bond									10.000						12-05-24								MXN	15,430,000			1,047,597
	Collateralized mortgage obligations 2.3% (1.5% of Total investments)																											$3,581,421
	(Cost $2,453,906)
	Commercial and residential 1.7%																											2,717,974
	Bear Stearns Adjustable Rate Mortgage Trust Series 2005-2, Class A1 (P)									3.090						03-25-35									249,377			250,381
	Bear Stearns Asset Backed Securities Trust Series 2004-AC5, Class A1									5.250						10-25-34									234,709			233,955
	Deutsche Mortgage Securities, Inc. Mortgage Loan Trust Series 2004-4, Class 2AR1 (P)									0.716						06-25-34									308,880			293,263
	HarborView Mortgage Loan Trust
				Series 2007-3, Class ES IO (S)						0.350						05-19-47									5,004,493			78,686
				Series 2007-4, Class ES IO						0.350						07-19-47									5,240,713			76,294
				Series 2007-6, Class ES IO (S)						0.338						08-19-37									4,048,474			51,671
	Hilton USA Trust Series 2013-HLF, Class EFL (P) (S)									4.186						11-05-30									761,640			762,700
	IndyMac Index Mortgage Loan Trust
				Series 2005-AR18, Class 1X IO						2.034						10-25-36									6,506,476			609,540
				Series 2005-AR18, Class 2X IO						1.735						10-25-36									5,798,860			361,484

										Rate (%				)		Maturity date			Par value^									Value
	U.S. Government Agency 0.6%																											$863,447
	Federal Home Loan Mortgage Corp.
				Series 290, Class IO						3.500						11-15-32									2,556,843			367,022
				Series K017, Class X1 IO						1.411						12-25-21									2,667,645			158,467
				Series K709, Class X1 IO						1.523						03-25-19									3,110,340			105,433
				Series K710, Class X1 IO						1.764						05-25-19									3,155,788			128,606
	Government National Mortgage Association Series 2012-114, Class IO									0.901						01-16-53									1,577,805			103,919
	Asset backed securities 1.2% (0.7% of Total investments)																											$1,789,526
	(Cost $1,788,152)
	ContiMortgage Home Equity Loan Trust Series 1995-2, Class A5									8.100						08-15-25									21,055			16,883
	Domino's Pizza Master Issuer LLC Series 2015-1A, Class A2I (S)									3.484						10-25-45									992,500			997,463
	Driven Brands Funding LLC Series 2015-1A, Class A2 (S)									5.216						07-20-45									774,150			775,180
																						Shares						Value
	Preferred securities (b) 2.1% (1.3% of Total investments)																											$3,175,080
	(Cost $3,014,542)
	Financials 1.4%																											2,064,220
	Consumer finance 0.4%
	SLM Corp., Series A, 6.970% (L)(Z)																					11,062						553,100
	Diversified financial services 0.4%
	GMAC Capital Trust I, 6.411% (P)																					24,000						610,080
	Real estate investment trusts 0.6%
	American Tower Corp., 5.250% (L)(Z)																					8,000						901,040
	Utilities 0.7%																											1,110,860
	Electric utilities 0.7%
	Exelon Corp., 6.500% (L)(Z)																					22,195						1,110,860
	Common stocks 0.0% (0.0% of Total investments)																											$0
	(Cost $593,666)
	Consumer discretionary 0.0%																											0
	Media 0.0%
	Vertis Holdings, Inc. (I)																					34,014						0
	Industrials 0.0%																											0
	Airlines 0.0%
	Global Aviation Holdings, Inc., Class A (I)																					82,159						0
										Yield				* (%)		Maturity date			Par value^									Value
	Short-term investments 2.1% (1.4% of Total investments)																											$3,273,000
	(Cost $3,273,000)
	U.S. Government Agency 1.4%																											2,234,000
	Federal Home Loan Bank Discount Note									0.150						08-01-16			2,234,000									2,234,000
																						Par value^						Value
	Repurchase agreement 0.7%																											$1,039,000
	Repurchase Agreement with State Street Corp. dated 7-29-16 at 0.030% to be repurchased at $1,039,003 on 8-1-16, collateralized by $1,055,000 Federal National Mortgage Association, 1.985% due 9-29-21 (valued at $1,064,231, including interest)																					1,039,000						1,039,000
	Total investments (Cost $239,399,063)† 154.9%																											$239,789,648
	Other assets and liabilities, net (54.9%)																											($84,992,930	)
	Total net assets 100.0%																											$154,796,718

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.

Key to Currency Abbreviations

BRL

Brazilian Real

MXN

Mexican Peso

Key to Security Abbreviations and Legend

IO

Interest Only Security — (Interest Tranche of Stripped Mortgage Pool). Rate shown is the effective yield at period end.

ISDAFIX

International Swaps and Derivatives Association Fixed Interest Rate Swap Rate

LIBOR

London Interbank Offered Rate

PIK

Payment-in-kind

(a)

Includes hybrid securities with characteristics of both equity and debt that trade with, and pay, interest income.

(b)

Includes preferred stocks and hybrid securities with characteristics of both equity and debt that pay dividends on a periodic basis.

(H)

Non-income producing - Issuer is in default.

(I)

Non-income producing security.

(L)

A portion of this security is on loan as of 7-31-16, and is a component of the fund's leverage under the Liquidity Agreement. The value of securities on loan amounted to $36,823,695.

(M)

Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.

(P)

Variable rate obligation. The coupon rate shown represents the rate at period end.

(Q)

Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.

(S)

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 $90,225,401 or 58.3% of the fund's net assets as of 7-31-16.

(Z)

All or a portion of this security is segregated as collateral pursuant to the Liquidity Agreement. Total collateral value at 7-31-16 was $105,772,843.

*

Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.

†

At 7-31-16, the aggregate cost of investment securities for federal income tax purposes was $240,370,621. Net unrealized depreciation aggregated to $580,973, of which $9,043,278 related to appreciated investment securities and $9,624,251 related to depreciated investment securities.

The fund had the following country composition as a percentage of total investments on 7-31-16:

	United States			71.0%
	Mexico			5.1%
	Luxembourg			3.3%
	Canada			2.9%
	United Kingdom			2.3%
	Brazil			1.8%
	Ireland			1.7%
	France			1.6%
	Netherlands			1.4%
	Russia			1.1%
	Other countries			7.8%
	TOTAL			100.0%

Notes to Fund's investments (unaudited)

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value may be determined as of the regularly scheduled close of the NYSE pursuant to the fund's Valuation Policies and Procedures. The time at which shares and transactions are priced and until which orders are accepted may vary to the extent permitted by the Securities and Exchange Commission and applicable regulations.

In order to value the securities, the fund uses the following valuation techniques: Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Equity securities held by the fund are valued at the last sale price or official closing price on the exchange or principal market where the security was acquired or most likely will be sold. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund's Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.

The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund's own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

As of July 31, 2016, all investments are categorized as Level 2 under the hierarchy described above, except for preferred securities which are categorized as Level 1.

Repurchase agreements. The fund may enter into repurchase agreements. When the fund enters into a repurchase agreement, it receives collateral that is held in a segregated account by the fund's custodian. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the fund for repurchase agreements is disclosed in the Fund's investments as part of the caption related to the repurchase agreement.

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay back claims resulting from close-out of the transactions.

Derivative instruments. The fund may invest in derivatives in order to meet its investment objectives. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

Interest rate swaps. Interest rate swaps represent an agreement between the fund and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The fund settles accrued net interest receivable or payable under the swap contracts at specified, future intervals. Swap agreements are privately negotiated in the OTC market or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as unrealized appreciation/depreciation of swap contracts. A termination payment by the counterparty or the fund is recorded as realized gain or loss, as well as the net periodic payments received or paid by the fund. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.

       11

During the period ended July 31, 2016, the fund used interest rate swaps to manage against anticipated interest rate changes. The following table summarizes the interest rate swap contracts held as of July 31, 2016.

Counterparty

USD notional amount

Payments made by fund

Payments received by fund

Maturity date

Market value

Morgan Stanley Capital Services

$22,000,000

Fixed 1.4425%

3 Month LIBOR (a)

Aug 2016

($123,744

)

Morgan Stanley Capital Services

22,000,000

Fixed 1.0938%

3 Month LIBOR (a)

May 2017

(68,158

)

Total

$44,000,000

($191,902

)

^(a) At 7-31-16, the 3-month LIBOR rate was 0.7591%

For additional information on the fund's significant accounting policies, please refer to the fund's most recent semiannual or annual shareholder report.

       12

More information

How to contact us
Internet	www.jhinvestments.com
Mail	Computershare P.O. Box 30170 College Station, TX 77842-3170
Phone	Customer service representatives Portfolio commentary 24-hour automated information TDD line	800-852-0218 800-344-7054 800-843-0090 800-231-5469

	P5Q3	07/16
This report is for the information of the shareholders of John Hancock Investors Trust.		9/16