John Hancock

Investors Trust

Quarterly portfolio holdings 1/31/16

	As of 1-31-16 (unaudited)
										Rate (%				)		Maturity date			Par value^									Value
	Corporate bonds 141.0% (88.1% of Total investments)																											$195,124,124
	(Cost $213,287,413)
	Consumer discretionary 24.5%																											33,881,569
	Auto components 2.6%
	American Axle & Manufacturing, Inc.									6.250						03-15-21									1,000,000			1,006,250
	Lear Corp. (Z)									5.250						01-15-25									1,210,000			1,256,888
	Nemak SAB de CV (S)									5.500						02-28-23									550,000			547,250
	The Goodyear Tire & Rubber Company									7.000						05-15-22									690,000			737,955
	Automobiles 0.7%
	Fiat Chrysler Automobiles NV (L)(Z)									5.250						04-15-23									700,000			652,750
	General Motors Financial Company, Inc. (Z)									3.450						04-10-22									380,000			365,027
	Hotels, restaurants and leisure 2.0%
	International Game Technology PLC (S)(Z)									6.500						02-15-25									1,785,000			1,597,575
	Mohegan Tribal Gaming Authority (L)(Z)									9.750						09-01-21									1,240,000			1,218,300
	Waterford Gaming LLC (H)(S)									8.625						09-15-49									377,791			0
	Household durables 0.6%
	Toll Brothers Finance Corp. (Z)									4.875						11-15-25									875,000			857,500
	Internet and catalog retail 1.4%
	QVC, Inc.									4.450						02-15-25									1,200,000			1,111,724
	QVC, Inc. (Z)									5.950						03-15-43									1,000,000			831,927
	Media 13.8%
	AMC Entertainment, Inc. (L)(Z)									5.875						02-15-22									626,000			644,780
	Cablevision Systems Corp.									7.750						04-15-18									450,000			455,625
	Cablevision Systems Corp. (L)(Z)									8.000						04-15-20									750,000			708,750
	CCO Holdings LLC (L)(Z)									5.125						02-15-23									1,350,000			1,346,625
	CCOH Safari LLC (L)(S)(Z)									5.750						02-15-26									1,250,000			1,243,594
	Cinemark USA, Inc.									7.375						06-15-21									365,000			380,513
	DIRECTV Holdings LLC (Z)									4.450						04-01-24									355,000			363,451
	Grupo Televisa SAB (L)(Z)									4.625						01-30-26									725,000			725,823
	Grupo Televisa SAB									8.490						05-11-37								MXN	11,700,000			638,046
	Myriad International Holdings BV (S)									5.500						07-21-25									915,000			870,842
	Myriad International Holdings BV (S)									6.000						07-18-20									440,000			466,171
	Nielsen Finance LLC (S)									5.000						04-15-22									800,000			807,000
	Numericable-SFR SAS (L)(S)(Z)									6.250						05-15-24									1,050,000			1,023,750
	Outfront Media Capital LLC (L)(Z)									5.250						02-15-22									900,000			920,250
	Outfront Media Capital LLC									5.625						02-15-24									1,700,000			1,738,250
	Radio One, Inc. (S)									7.375						04-15-22									945,000			845,775
	Sinclair Television Group, Inc. (L)(Z)									6.375						11-01-21									830,000			854,900
	Sirius XM Radio, Inc. (S)									6.000						07-15-24									925,000			968,938
	Time Warner Cable, Inc. (Z)									4.500						09-15-42									1,515,000			1,207,257
	Time Warner Cable, Inc. (Z)									8.250						04-01-19									375,000			431,864
	Time Warner, Inc. (Z)									4.850						07-15-45									700,000			631,879
	Virgin Media Secured Finance PLC (S)									5.375						04-15-21									900,000			920,250
	WMG Acquisition Corp. (S)									6.000						01-15-21									868,000			883,190
	Specialty retail 2.3%
	Group 1 Automotive Inc (S)(Z)									5.250						12-15-23									1,500,000			1,410,000
	Jo-Ann Stores Holdings, Inc., PIK (S)									9.750						10-15-19									500,000			315,000
	L Brands, Inc.									6.950						03-01-33									1,440,000			1,440,900
	Textiles, apparel and luxury goods 1.1%
	PVH Corp. (Z)									4.500						12-15-22									1,500,000			1,455,000

										Rate (%				)		Maturity date			Par value^									Value
	Consumer staples 7.7%																											$10,675,165
	Beverages 2.5%
	Anadolu Efes Biracilik Ve Malt Sanayii AS (S)									3.375						11-01-22									2,000,000			1,669,040
	Corporacion Lindley SA (S)									4.625						04-12-23									1,000,000			993,750
	SABMiller Holdings, Inc. (S)(Z)									3.750						01-15-22									750,000			776,610
	Food and staples retailing 2.8%
	Office Depot de Mexico SA de CV (S)									6.875						09-20-20									1,610,000			1,587,863
	SUPERVALU, Inc.									7.750						11-15-22									650,000			552,500
	Tops Holding LLC (S)									8.000						06-15-22									1,805,000			1,714,750
	Food products 1.0%
	Kraft Heinz Foods Company (S)(Z)									4.875						02-15-25									675,000			722,226
	Post Holdings, Inc. (L)(Z)									7.375						02-15-22									615,000			648,056
	Personal products 0.8%
	Revlon Consumer Products Corp. (L)(Z)									5.750						02-15-21									1,200,000			1,170,000
	Tobacco 0.6%
	Reynolds American, Inc. (Z)									6.875						05-01-20									720,000			840,370
	Energy 12.4%																											17,115,558
	Energy equipment and services 0.9%
	Chaparral Energy, Inc.									7.625						11-15-22									785,000			149,150
	EDC Finance, Ltd. (S)									4.875						04-17-20									1,000,000			888,420
	Permian Holdings, Inc. (S)									10.500						01-15-18									700,000			252,000
	Oil, gas and consumable fuels 11.5%
	American Energy-Permian Basin LLC (L)(S)(Z)									7.125						11-01-20									500,000			150,000
	Antero Resources Corp.									5.125						12-01-22									552,000			465,060
	Continental Resources, Inc. (L)(Z)									4.500						04-15-23									500,000			343,217
	Enbridge Energy Partners LP (Z)									5.875						10-15-25									2,005,000			1,880,433
	Energy XXI Gulf Coast, Inc. (L)(S)(Z)									11.000						03-15-20									870,000			200,100
	Global Partners LP									6.250						07-15-22									1,225,000			857,500
	Kinder Morgan Energy Partners LP (Z)									4.250						09-01-24									1,310,000			1,105,944
	Kinder Morgan, Inc. (Z)									5.550						06-01-45									1,055,000			826,744
	Lukoil International Finance BV (S)									4.563						04-24-23									1,000,000			906,250
	Oasis Petroleum, Inc. (L)(Z)									6.875						03-15-22									500,000			290,000
	Pacific Exploration and Production Corp. (H)(S)									5.125						03-28-23									705,000			84,248
	PBF Holding Company LLC (S)									7.000						11-15-23									675,000			614,250
	Petrobras Global Finance BV (L)(Z)									6.850						06-05-2115									1,535,000			970,888
	Petroleos Mexicanos (L)(Z)									5.500						01-21-21									755,000			742,731
	SandRidge Energy, Inc. (S)									8.750						06-01-20									575,000			108,531
	SM Energy Company									5.625						06-01-25									1,330,000			714,875
	Teekay Offshore Partners LP									6.000						07-30-19									1,085,000			615,738
	Tesoro Logistics LP									6.125						10-15-21									635,000			574,675
	Tesoro Logistics LP (S)									6.250						10-15-22									650,000			588,250
	Tullow Oil PLC (S)									6.000						11-01-20									1,640,000			1,041,400
	Whiting Petroleum Corp. (L)(Z)									6.250						04-01-23									770,000			481,250
	Williams Partners LP									4.875						03-15-24									1,595,000			1,196,229
	WPX Energy, Inc. (L)(Z)									5.250						09-15-24									615,000			335,175
	Zhaikmunai LLP (S)									6.375						02-14-19									1,000,000			732,500
	Financials 30.8%																											42,656,946
	Banks 14.3%
	Banco Bradesco SA (S)									5.750						03-01-22									500,000			470,000
	Banco BTG Pactual SA (S)									5.750						09-28-22									960,000			676,800
	Banco Regional SAECA (S)									8.125						01-24-19									400,000			404,000
	Barclays Bank PLC (S)(Z)									10.179						06-12-21									195,000			259,466

										Rate (%				)		Maturity date			Par value^									Value
	Financials  (continued)
	Banks  (continued)
	Citigroup, Inc. (6.125% to 11-15-20, then 3 month LIBOR + 4.478%) (Q)(Z)									6.125						11-15-20									1,000,000			$1,005,930
	CorpGroup Banking SA (S)									6.750						03-15-23									1,000,000			892,500
	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									2,100,000			2,044,556
	Credit Agricole SA (8.125% to 12-23-25, then 5 Year U.S. Swap Rate + 6.185%) (Q)(S)(Z)									8.125						12-23-25									450,000			448,813
	HSBC Holdings PLC (5.625% to 1-17-20, then 5 year ISDAFIX + 3.626%) (Q)(Z)									5.625						01-17-20									800,000			779,550
	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			1,609,163
	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			678,125
	JPMorgan Chase & Co. (Z)									3.450						03-01-16									2,000,000			2,003,618
	JPMorgan Chase & Co. (6.750% to 2-1-24, then 3 month LIBOR + 3.780%) (L)(Q)(Z)									6.750						02-01-24									2,300,000			2,489,736
	Lloyds Banking Group PLC (7.500% to 6-27-24, then 5 Year U.S. Swap Rate + 4.760%) (Q)									7.500						06-27-24									1,000,000			1,035,000
	National City Bank of Indiana (Z)									4.250						07-01-18									2,000,000			2,106,668
	Sberbank of Russia (S)									6.125						02-07-22									1,000,000			1,016,860
	Wells Fargo & Company (5.900% to 6-15-24, then 3 month LIBOR + 3.110%) (L)(Q)(Z)									5.900						06-15-24									1,860,000			1,876,275
	Capital markets 5.3%
	Deutsche Bank AG (Z)									4.500						04-01-25									1,000,000			890,716
	GrupoSura Finance SA (S)									5.700						05-18-21									440,000			448,800
	Morgan Stanley (Z)									3.800						04-29-16									1,000,000			1,007,060
	Morgan Stanley (Z)									5.750						01-25-21									1,000,000			1,123,473
	Morgan Stanley (5.550% to 7-15-20, then 3 month LIBOR + 3.810%) (Q)(Z)									5.550						07-15-20									1,160,000			1,147,675
	The Goldman Sachs Group, Inc. (Z)									3.750						05-22-25									375,000			376,767
	The Goldman Sachs Group, Inc. (Z)									5.250						07-27-21									340,000			377,275
	The Goldman Sachs Group, Inc. (Z)									6.250						09-01-17									1,000,000			1,063,704
	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			976,250
	Consumer finance 1.8%
	American Express Company (4.900% to 3-15-20, then 3 month LIBOR + 3.285%) (L)(Q)(Z)									4.900						03-15-20									1,095,000			1,021,088
	Enova International, Inc.									9.750						06-01-21									665,000			478,800
	Springleaf Finance Corp.									6.900						12-15-17									465,000			475,416
	Springleaf Finance Corp.									8.250						10-01-23									500,000			471,250
	Diversified financial services 1.2%
	Leucadia National Corp. (Z)									5.500						10-18-23									600,000			570,966
	NewStar Financial, Inc.									7.250						05-01-20									1,145,000			1,064,850
	Insurance 2.5%
	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			1,025,351
	CNA Financial Corp. (Z)									7.350						11-15-19									655,000			754,286
	MetLife, Inc. (L)(Z)									6.817						08-15-18									1,000,000			1,123,938
	Symetra Financial Corp. (8.300% to 10-15-17, then 3 month LIBOR + 4.177%) (S)									8.300						10-15-37									520,000			522,600
	Real estate investment trusts 3.1%
	Crown Castle International Corp. (Z)									4.875						04-15-22									1,000,000			1,048,750
	Crown Castle Towers LLC (S)(Z)									4.883						08-15-40									750,000			816,076
	Trust F/1401 (S)									5.250						12-15-24									2,475,000			2,447,156
	Thrifts and mortgage finance 2.6%
	Ladder Capital Finance Holdings LLLP									7.375						10-01-17									550,000			548,625
	Nationstar Mortgage LLC									7.875						10-01-20									505,000			481,013
	Nationstar Mortgage LLC (L)(Z)									9.625						05-01-19									1,150,000			1,194,563
	Quicken Loans, Inc. (S)									5.750						05-01-25									535,000			501,563
	Stearns Holdings, Inc. (S)									9.375						08-15-20									925,000			901,875

										Rate (%				)		Maturity date			Par value^									Value
	Health care 11.5%																											$15,870,829
	Biotechnology 0.5%
	Celgene Corp. (Z)									5.000						08-15-45									750,000			749,132
	Health care providers and services 9.1%
	Community Health Systems, Inc. (L)(Z)									6.875						02-01-22									1,500,000			1,362,938
	Covenant Surgical Partners, Inc. (S)									8.750						08-01-19									250,000			242,500
	DaVita HealthCare Partners, Inc. (L)(Z)									5.125						07-15-24									1,145,000			1,151,441
	Fresenius US Finance II, Inc. (S)(Z)									4.500						01-15-23									700,000			701,750
	HCA, Inc. (Z)									5.250						04-15-25									1,000,000			1,025,000
	HCA, Inc. (L)(Z)									5.375						02-01-25									2,400,000			2,427,000
	HCA, Inc.									7.500						02-15-22									130,000			144,300
	HealthSouth Corp. (S)									5.750						11-01-24									1,145,000			1,130,218
	LifePoint Health, Inc.									5.500						12-01-21									450,000			456,750
	LifePoint Health, Inc. (L)(Z)									5.875						12-01-23									1,500,000			1,556,250
	Molina Healthcare, Inc. (S)									5.375						11-15-22									1,040,000			1,040,000
	Select Medical Corp. (L)(Z)									6.375						06-01-21									1,515,000			1,287,750
	Pharmaceuticals 1.9%
	Mallinckrodt International Finance SA (S)									5.500						04-15-25									1,350,000			1,201,500
	Mallinckrodt International Finance SA (L)(S)(Z)									5.750						08-01-22									1,460,000			1,394,300
	Industrials 13.0%																											18,028,377
	Aerospace and defense 4.5%
	AerCap Ireland Capital, Ltd. (L)(Z)									4.500						05-15-21									1,905,000			1,866,900
	Huntington Ingalls Industries, Inc. (S)(Z)									5.000						12-15-21									1,240,000			1,280,300
	LMI Aerospace, Inc.									7.375						07-15-19									1,210,000			1,143,450
	Textron Financial Corp. (6.000% to 2-15-17, then 3 month LIBOR + 1.735%) (S)									6.000						02-15-67									1,745,000			1,238,950
	TransDigm, Inc.									6.500						07-15-24									745,000			728,238
	Air freight and logistics 1.3%
	XPO Logistics, Inc. (L)(S)(Z)									6.500						06-15-22									2,010,000			1,798,950
	Airlines 2.1%
	Air Canada (S)									8.750						04-01-20									450,000			477,563
	Air Canada 2013-1 Class C Pass Through Trust (S)									6.625						05-15-18									1,000,000			998,750
	Continental Airlines 1999-1 Class A Pass Through Trust									6.545						08-02-20									155,058			164,253
	TAM Capital 3, Inc. (S)									8.375						06-03-21									505,000			380,770
	Tam Capital, Inc.									7.375						04-25-17									500,000			485,000
	UAL 2009-1 Pass Through Trust									10.400						05-01-18									74,552			78,373
	UAL 2009-2A Pass Through Trust									9.750						07-15-18									231,079			244,943
	Building products 0.4%
	Masco Corp. (Z)									4.450						04-01-25									500,000			500,000
	Construction and engineering 0.4%
	Tronox Finance LLC (S)									7.500						03-15-22									925,000			557,313
	Industrial conglomerates 0.3%
	Odebrecht Finance, Ltd. (S)									8.250						04-25-18								BRL	2,250,000			282,164
	Odebrecht Offshore Drilling Finance, Ltd. (S)									6.750						10-01-23									892,600			191,909
	Machinery 0.3%
	Trinity Industries, Inc. (Z)									4.550						10-01-24									490,000			438,172
	Marine 0.2%
	Navios Maritime Holdings, Inc. (S)									7.375						01-15-22									870,000			313,200
	Road and rail 1.0%
	OPE KAG Finance Sub, Inc. (L)(S)(Z)									7.875						07-31-23									900,000			878,625
	The Hertz Corp. (L)(Z)									6.250						10-15-22									500,000			486,250

										Rate (%				)		Maturity date			Par value^									Value
	Industrials  (continued)
	Trading companies and distributors 2.2%
	Ahern Rentals, Inc. (L)(S)(Z)									7.375						05-15-23									535,000			$390,550
	Aircastle, Ltd. (Z)									5.125						03-15-21									1,735,000			1,713,313
	United Rentals North America, Inc. (L)(Z)									5.500						07-15-25									1,075,000			960,781
	Transportation infrastructure 0.3%
	CHC Helicopter SA (L)(Z)									9.250						10-15-20									976,500			429,660
	Information technology 3.2%																											4,483,907
	Internet software and services 1.1%
	Ancestry.com Holdings LLC, PIK (L)(S)(Z)									9.625						10-15-18									220,000			205,425
	InterActiveCorp (Z)									4.875						11-30-18									615,000			621,919
	Rackspace Hosting, Inc. (S)(Z)									6.500						01-15-24									725,000			661,563
	IT services 1.0%
	Sixsigma Networks Mexico SA de CV (S)									8.250						11-07-21									1,500,000			1,365,000
	Semiconductors and semiconductor equipment 0.5%
	Micron Technology, Inc.									5.500						02-01-25									1,000,000			790,000
	Software 0.6%
	Activision Blizzard, Inc. (S)(Z)									5.625						09-15-21									800,000			840,000
	Materials 13.7%																											19,004,594
	Building materials 0.9%
	Building Materials Corp. of America (S)									5.375						11-15-24									1,220,000			1,201,700
	Chemicals 4.2%
	Ashland, Inc. (Z)									6.875						05-15-43									1,200,000			1,083,000
	Braskem Finance, Ltd.									6.450						02-03-24									760,000			666,900
	Mexichem SAB de CV (S)									6.750						09-19-42									1,500,000			1,357,500
	Platform Specialty Products Corp. (L)(S)(Z)									6.500						02-01-22									1,615,000			1,267,775
	Rain CII Carbon LLC (S)									8.250						01-15-21									360,000			271,804
	The Chemours Company (L)(S)(Z)									6.625						05-15-23									1,170,000			716,625
	The Scotts Miracle-Gro Company (S)									6.000						10-15-23									490,000			512,050
	Construction materials 0.6%
	Cementos Progreso Trust (S)									7.125						11-06-23									695,000			688,050
	Vulcan Materials Company (Z)									7.500						06-15-21									120,000			138,240
	Containers and packaging 2.8%
	Ardagh Finance Holdings SA, PIK (L)(S)(Z)									8.625						06-15-19									874,121			804,191
	Ball Corp. (Z)									5.250						07-01-25									1,425,000			1,467,750
	Crown Americas LLC									4.500						01-15-23									1,000,000			990,000
	Graphic Packaging International, Inc.									4.875						11-15-22									650,000			650,000
	Metals and mining 4.2%
	AngloGold Ashanti Holdings PLC									5.375						04-15-20									675,000			597,814
	AngloGold Ashanti Holdings PLC									8.500						07-30-20									500,000			517,250
	Freeport-McMoRan, Inc.									2.375						03-15-18									1,000,000			637,500
	Glencore Finance Canada, Ltd. (L)(S)(Z)									3.600						01-15-17									730,000			705,728
	MMC Norilsk Nickel OJSC (S)									5.550						10-28-20									750,000			750,308
	Novelis, Inc. (L)(Z)									8.750						12-15-20									925,000			840,733
	Rio Tinto Finance USA, Ltd. (Z)									7.125						07-15-28									710,000			802,388
	Severstal OAO (S)									4.450						03-19-18									1,000,000			1,001,500
	Paper and forest products 1.0%
	Norbord, Inc. (S)									6.250						04-15-23									735,000			714,788
	Sappi Papier Holding GmbH (S)									7.750						07-15-17									600,000			621,000

										Rate (%				)		Maturity date			Par value^									Value
	Telecommunication services 16.6%																											$22,892,228
	Diversified telecommunication services 11.1%
	Cincinnati Bell, Inc.									8.375						10-15-20									1,500,000			1,526,250
	Frontier Communications Corp. (L)(Z)									7.125						03-15-19									530,000			525,974
	Frontier Communications Corp. (S)									11.000						09-15-25									1,205,000			1,161,319
	GCI, Inc.									6.875						04-15-25									1,355,000			1,327,900
	Inmarsat Finance PLC (S)									4.875						05-15-22									1,275,000			1,259,063
	Intelsat Jackson Holdings SA (L)(Z)									7.500						04-01-21									840,000			724,500
	Intelsat Luxembourg SA									6.750						06-01-18									630,000			461,475
	Intelsat Luxembourg SA									8.125						06-01-23									360,000			148,500
	Level 3 Financing, Inc.									5.625						02-01-23									880,000			899,800
	SBA Communications Corp. (L)(Z)									4.875						07-15-22									1,135,000			1,135,000
	T-Mobile USA, Inc.									6.125						01-15-22									250,000			254,375
	T-Mobile USA, Inc.									6.250						04-01-21									900,000			918,000
	T-Mobile USA, Inc.									6.375						03-01-25									1,200,000			1,203,000
	T-Mobile USA, Inc.									6.625						04-01-23									245,000			250,513
	T-Mobile USA, Inc.									6.731						04-28-22									805,000			827,138
	Telecom Italia Capital SA (L)(Z)									6.000						09-30-34									720,000			644,400
	Wind Acquisition Finance SA (S)									7.375						04-23-21									1,000,000			950,620
	Windstream Services LLC (L)(Z)									7.500						06-01-22									1,375,000			1,058,750
	Wireless telecommunication services 5.5%
	America Movil SAB de CV									6.000						06-09-19								MXN	8,670,000			480,972
	Colombia Telecomunicaciones SA ESP (S)									5.375						09-27-22									1,000,000			885,000
	Digicel, Ltd. (L)(S)(Z)									6.000						04-15-21									405,000			352,856
	SBA Tower Trust (S)(Z)									5.101						04-15-42									580,000			588,505
	Sprint Communications, Inc. (L)(Z)									6.000						11-15-22									935,000			628,788
	Sprint Corp. (L)(Z)									7.250						09-15-21									1,100,000			792,000
	Telefonica Celular del Paraguay SA (S)									6.750						12-13-22									1,000,000			900,000
	Turkcell Iletisim Hizmetleri AS (S)									5.750						10-15-25									1,000,000			957,530
	VimpelCom Holdings BV (S)									7.504						03-01-22									2,000,000			2,030,000
	Utilities 7.6%																											10,514,951
	Electric utilities 4.1%
	Beaver Valley II Funding Corp.									9.000						06-01-17									34,000			36,040
	BVPS II Funding Corp.									8.890						06-01-17									64,000			66,290
	Empresa Electrica Angamos SA (S)									4.875						05-25-29									1,000,000			866,052
	FPL Energy National Wind LLC (S)									5.608						03-10-24									63,104			63,104
	Israel Electric Corp., Ltd. (S)									5.000						11-12-24									1,000,000			1,013,750
	Israel Electric Corp., Ltd. (L)(S)(Z)									6.700						02-10-17									1,000,000			1,038,750
	Perusahaan Listrik Negara PT (S)									5.500						11-22-21									1,500,000			1,524,375
	PNPP II Funding Corp.									9.120						05-30-16									11,000			11,147
	Talen Energy Supply LLC									6.500						06-01-25									1,290,000			877,200
	W3A Funding Corp.									8.090						01-02-17									180,345			180,205
	Gas utilities 0.9%
	AmeriGas Finance LLC (Z)									7.000						05-20-22									1,235,000			1,210,300
	Independent power and renewable electricity producers 2.6%
	Dynegy, Inc.									7.375						11-01-22									1,040,000			920,400
	Dynegy, Inc. (L)(Z)									7.625						11-01-24									1,085,000			954,800
	NRG Yield Operating LLC									5.375						08-15-24									1,060,000			890,400
	TerraForm Power Operating LLC (S)									5.875						02-01-23									650,000			518,375
	TerraForm Power Operating LLC (L)(S)(Z)									6.125						06-15-25									445,000			343,763

										Rate (%				)		Maturity date			Par value^									Value
	Term loans (M) 0.5% (0.3% of Total investments)																											$625,633
	(Cost $916,736)
	Industrials 0.5%																											625,633
	Airlines 0.0%
	Global Aviation Holdings, Inc. (H)									0.000						07-13-17			51,038									0
	Global Aviation Holdings, Inc. (H)									0.000						02-13-18			514,063									0
	Machinery 0.5%
	Gardner Denver, Inc.									4.250						07-30-20			696,438									625,633
	Capital preferred securities (a) 0.8% (0.5% of Total investments)																											$1,080,000
	(Cost $1,146,779)
	Financials 0.8%																											1,080,000
	Diversified financial services 0.8%
	ILFC E-Capital Trust II (6.250% to 12-21-15, then 1.800% + highest of 3 month LIBOR, 10 year CMT or 30 year CMT) (S)									4.740						12-21-65			1,200,000									1,080,000
	U.S. Government and Agency obligations 9.3% (5.8% of Total investments)																											$12,905,020
	(Cost $12,583,701)
	U.S. Government Agency 9.3%																											12,905,020
	Federal National Mortgage Association
				15 Yr Pass Thru (L) (Z)						4.000						12-01-24			1,100,051									1,176,546
				30 Yr Pass Thru (L) (Z)						4.000						12-01-40			2,663,124									2,875,966
				30 Yr Pass Thru (L) (Z)						4.000						09-01-41			2,746,554									2,945,465
				30 Yr Pass Thru (L) (Z)						4.000						10-01-41			1,440,401									1,552,819
				30 Yr Pass Thru						4.000						01-01-42			737,168									794,932
				30 Yr Pass Thru (L) (Z)						4.500						10-01-40			2,007,954									2,205,298
				30 Yr Pass Thru						5.000						04-01-41			464,615									521,392
				30 Yr Pass Thru						5.500						08-01-40			150,720									169,332
				30 Yr Pass Thru						6.500						01-01-39			570,856									663,270
	Foreign government obligations 1.5% (1.0% of Total investments)																											$2,091,108
	(Cost $2,247,774)
	Dominican Republic 0.7%																											1,003,750
	Government of Dominican Republic Bond (S)									6.875						01-29-26									1,000,000			1,003,750
	Mexico 0.8%																											1,087,358
	Government of Mexico Bond									10.000						12-05-24								MXN	15,430,000			1,087,358
	Collateralized mortgage obligations 2.7% (1.7% of Total investments)																											$3,784,060
	(Cost $2,661,481)
	Commercial and residential 2.0%																											2,758,377
	Bear Stearns Adjustable Rate Mortgage Trust Series 2005-2, Class A1 (P)									3.090						03-25-35									278,563			278,493
	Bear Stearns Asset Backed Securities Trust Series 2004-AC5, Class A1									5.750						10-25-34									250,826			254,175
	Deutsche Mortgage Securities, Inc. Mortgage Loan Trust Series 2004-4, Class 2AR1 (P)									0.697						06-25-34									367,416			347,520
	HarborView Mortgage Loan Trust
				Series 2007-3, Class ES IO (S)						0.350						05-19-47									5,219,359			82,988
				Series 2007-4, Class ES IO						0.350						07-19-47									5,467,011			80,912
				Series 2007-6, Class ES IO (S)						0.343						08-19-37									4,215,775			54,383
	Hilton USA Trust Series 2013-HLF, Class EFL (P) (S)									4.180						11-05-30									761,640			756,439

										Rate (%				)		Maturity date			Par value^									Value
	Commercial and residential  (continued)
	IndyMac Index Mortgage Loan Trust
				Series 2005-AR18, Class 1X IO						2.122						10-25-36									6,949,422			$652,201
				Series 2005-AR18, Class 2X IO						1.817						10-25-36									6,146,572			251,266
	U.S. Government Agency 0.7%																											1,025,683
	Federal Home Loan Mortgage Corp.
				Series 290, Class IO						3.500						11-15-32									2,698,264			442,189
				Series K017, Class X1 IO						1.565						12-25-21									2,768,877			183,866
				Series K709, Class X1 IO						1.658						03-25-19									3,143,326			129,149
				Series K710, Class X1 IO						1.897						05-25-19									3,189,059			156,032
	Government National Mortgage Association Series 2012-114, Class IO									0.927						01-16-53									1,620,438			114,447
	Asset backed securities 1.6% (1.0% of Total investments)																											$2,172,380
	(Cost $2,187,354)
	ContiMortgage Home Equity Loan Trust Series 1995-2, Class A5									8.100						08-15-25									24,745			21,324
	Domino's Pizza Master Issuer LLC Series 2015-1A, Class A2I (S)									3.484						10-25-45									997,500			977,550
	Driven Brands Funding LLC Series 2015-1A, Class A2 (S)									5.216						07-20-45									778,050			774,879
	Sonic Capital LLC Series 2011-1A, Class A2 (S)									5.438						05-20-41									386,532			398,627
																						Shares						Value
	Preferred securities (b) 2.1% (1.3% of Total investments)																											$2,836,440
	(Cost $3,008,611)
	Financials 1.4%																											1,881,611
	Consumer finance 0.4%
	SLM Corp., Series A, 6.970% (L)(Z)																					10,935						477,531
	Diversified financial services 0.4%
	GMAC Capital Trust I (8.125% to 2-15-16, then 3 month LIBOR + 5.785%)																					24,000						610,800
	Real estate investment trusts 0.6%
	American Tower Corp., 5.250%																					8,000						793,280
	Utilities 0.7%																											954,829
	Electric utilities 0.7%
	Exelon Corp., 6.500%																					22,195						954,829
	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
																						Par value^						Value
	Short-term investments 0.5% (0.3% of Total investments)																											$758,000
	(Cost $758,000)
	Repurchase agreement 0.5%																											758,000
	Repurchase Agreement with State Street Corp. dated 1-29-16 at 0.030% to be repurchased at $758,002 on 2-1-16, collateralized by $775,000 U.S. Treasury Notes, 0.750% due 6-30-17 (valued at $775,000, including interest)																					758,000						758,000

																						Par value^						Value
	Repurchase agreement  (continued)
	Total investments (Cost $239,391,515)† 160.0%																											$221,376,765
	Other assets and liabilities, net (60.0%)																											($82,995,304	)
	Total net assets 100.0%																											$138,381,461

The percentage shown for each investment category is the total value of that category as a percentage of the net assets of the fund.

^All par values are denominated in U.S. dollars unless otherwise indicated.

Key to Currency Abbreviations

BRL

Brazilian Real

MXN

Mexican Peso

Key to Security Abbreviations and Legend

CMT

Constant Maturity Treasury

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 1-31-16, and is a component of the fund's leverage under the Liquidity Agreement. The value of securities on loan amounted to $49,900,707.

(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 $84,546,585 or 61.1% of the fund's net assets as of 1-31-16.

(Z)

All or a portion of this security is segregated as collateral pursuant to the Liquidity Agreement. Total collateral value at 1-31-16 was $100,789,653.

†

At 1-31-16, the aggregate cost of investment securities for federal income tax purposes was $240,418,397. Net unrealized depreciation aggregated $19,041,632, of which $2,773,358 related to appreciated investment securities and $21,814,990 related to depreciated investment securities.

The fund had the following country composition as a percentage of total investments on 1-31-16:

	United States			52.8
	Mexico			7.9
	Luxembourg			4.8
	United Kingdom			4.3
	Netherlands			4.1
	Ireland			3.3
	Brazil			3.0
	France			2.5
	Canada			2.4
	Turkey			1.9
	Other countries			1.3
	Total			100.0

Notes to Fund's investments (unaudited)

Security valuation. Investments are stated at value as of the close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., Eastern Time. 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. Securities that trade only in the over-the-counter (OTC) market are valued using bid prices. 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.

The following is a summary of the values by input classification of the fund's investments as of January 31, 2016, by major security category or type:

				Total value at 1-31-16			Level 1 quoted price			Level 2 significant observable inputs			Level 3 significant unobservable inputs
	Corporate bonds			$195,124,124			—			$195,124,124			—
	Term loans			625,633			—			625,633			—
	Capital preferred securities			1,080,000			—			1,080,000			—
	U.S. Government and Agency obligations			12,905,020			—			12,905,020			—
	Foreign government obligations			2,091,108			—			2,091,108			—
	Collateralized mortgage obligations			3,784,060			—			3,784,060			—
	Asset backed securities			2,172,380			—			2,172,380			—
	Preferred securities			2,836,440			$2,836,440			—			—
	Short-term investments			758,000			—			758,000			—
	Total investments in securities			$221,376,765			$2,836,440			$218,540,325			—
	Other financial instruments
	Interest rate swaps			($364,648	)		—			($364,648	)		—

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 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.

       11

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.

During the period ended January 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 January 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

($227,417

)

Morgan Stanley Capital Services

22,000,000

Fixed 1.0938%

3 Month LIBOR (a)

May 2017

(137,231

)

Total

$44,000,000

($364,648

)

^(a) At 1-31-16, the 3-month LIBOR rate was 0.6126%

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

	P5Q1	01/16
This report is for the information of the shareholders of John Hancock Investors Trust.		3/16