UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-4173
John Hancock Investors Trust
(Exact name of registrant as specified in charter)
101 Huntington Avenue, Boston, Massachusetts 02199
(Address of principal executive offices) (Zip code)
Susan S. Newton, Secretary
101 Huntington Avenue
Boston, Massachusetts 02199
(Name and address of agent for service)
Registrant's telephone number, including area code: 617-375-1702
Date of fiscal year end: December 31
Date of reporting period: September 30, 2004
ITEM 1. SCHEDULE OF INVESTMENTS
JOHN HANCOCK
Investors Trust
9.30.2004
Quarterly Portfolio Holdings
[A 2" x 1" John Hancock (Signature)/John Hancock Funds logo in lower,
center middle of page. A tag line below reads "JOHN HANCOCK FUNDS."]
John Hancock
Investors Trust
Securities owned by the Fund on
September 30, 2004 (unaudited)
Interest Maturity Credit Par value
Issuer, description rate (%) date rating (A) ($000) Value
Bonds 105.19% $180,144,821
(Cost $175,445,033)
Aerospace & Defense 0.70% 1,198,202
Jet Equipment Trust,
Equipment Trust Ctf Ser 95B2 (B)(H)(S) 10.910 08-15-2014 D 550 2,750
Raytheon Co.,
Note 8.300 03-01-2010 BBB- 1,000 1,195,452
Agricultural Products 0.53% 910,275
Corn Products International, Inc.,
Sr Note 8.450 08-15-2009 BBB- 795 910,275
Airlines 1.97% 3,377,975
American Airlines, Inc.,
Pass Thru Ctf Ser 2001-2 (L) 7.858 10-01-2011 A- 1,000 993,946
Continental Airlines, Inc.,
Pass Thru Ctf Ser 1999-1A 6.545 02-02-2019 A- 1,585 1,529,846
Delta Air Lines, Inc.,
Equip Tr Ctf Ser A 10.000 06-01-2008 CCC 2,000 630,000
Northwest Airlines Corp.,
Pass Thru Ctf Ser 1996-1C 10.150 01-02-2005 CCC+ 32 30,675
Pass Thru Ctf Ser 1996-1D 8.970 01-02-2015 CCC+ 284 193,508
Apparel Retail 0.35% 594,125
Gap, Inc. (The),
Note (L) 10.300 12-15-2008 BB+ 485 594,125
Asset Management & Custody Banks 0.88% 1,513,229
Rabobank Capital Fund II,
Perpetual Bond (5.260% to 12-31-13 then variable) (S) 5.260 12-29-2049 AA 1,500 1,513,229
Auto Parts & Equipment 0.99% 1,694,982
American Axle & Manufacturing, Inc.,
Sr Note 5.250 02-11-2014 BBB 500 493,072
TRW Automotive, Inc.,
Sr Note (L) 9.375 02-15-2013 BB- 1,052 1,201,910
Automobile Manufacturers 0.18% 307,771
Ford Motor Co.,
Deb 9.980 02-15-2047 BBB- 250 307,771
Brewers 0.58% 991,821
Fosters Financial Corp.,
Note (S) 4.875 10-01-2014 BBB+ 1,000 991,821
Broadcasting & Cable TV 9.86% 16,888,409
AT&T Broadband Corp.,
Gtd Note 8.375 03-15-2013 BBB 980 1,186,770
British Sky Broadcasting Group Plc,
Gtd Sr Note (United Kingdom) 8.200 07-15-2009 BBB- 905 1,054,608
Charter Communications Holdings II,
Sr Note 10.250 09-15-2010 CCC- 2,000 2,042,500
Clear Channel Communications, Inc.,
Note 4.250 05-15-2009 BBB- 1,000 990,883
Note 5.500 09-15-2014 BBB- 375 373,031
Continental Cablevision, Inc.,
Deb 9.500 08-01-2013 BBB 640 700,858
Cox Enterprises, Inc.,
Note (S) 7.875 09-15-2010 BBB 365 402,200
Grupo Televisa S.A.,
Note (Mexico) 8.000 09-13-2011 BBB- 1,835 2,101,075
Innova S. de R.L.,
Note (Mexico) 9.375 09-19-2013 B+ 1,500 1,631,250
Sr Note (Mexico) 12.875 04-01-2007 B+ 37 38,204
Muzak LLC/ Muzak Finance Corp.,
Sr Note 10.000 02-15-2009 CCC 1,400 1,239,000
Paxson Communications Corp.,
Gtd Sr Sub Note 10.750 07-15-2008 CCC 1,000 1,005,000
Rogers Cablesystems Ltd.,
Sr Note Ser B (Canada) 10.000 03-15-2005 BBB- 460 473,225
Shaw Communications, Inc.,
Sr Note (Canada) 8.250 04-11-2010 BB+ 1,000 1,130,000
TCI Communications, Inc.,
Sr Deb 9.800 02-01-2012 BBB 840 1,071,037
XM Satellite Radio, Inc.,
Sr Sec Note 12.000 06-15-2010 CCC+ 622 727,740
Sr Sec Note, Step Coupon (Zero to 12-31-05, then 14.000%) (O) Zero 12-31-2009 CCC+ 728 721,028
Building Products 1.86% 3,178,259
KB Home,
Sr Note 5.750 02-01-2014 BB+ 1,000 995,000
Pulte Homes Inc.,
Note (L) 6.250 02-15-2013 BBB- 1,000 1,068,028
Toll Brothers, Inc.,
Gtd Sr Note 6.875 11-15-2012 BBB- 1,000 1,115,231
Casinos & Gaming 2.55% 4,366,425
Chukchansi Economic Development Auth.,
Sr Note (G)(S) 14.500 06-15-2009 Caa1 1,000 1,250,000
Mohegan Tribal Gaming Auth,
Sr Sub Note (S) 7.125 08-15-2014 BB- 250 261,875
MTR Gaming Group, Inc.,
Gtd Sr Note Ser B 9.750 04-01-2010 B+ 800 872,000
Premier Entertainment Biloxi,
1st Mtg Note (S) 10.750 02-01-2012 B- 25 26,250
Trump Casino Holdings, LLC/Trump Casino Funding, Inc.,
Gtd Sr Sec 1st Mtg Note 12.625 03-15-2010 CCC+ 500 520,000
Waterford Gaming LLC,
Sr Note (S) 8.625 09-15-2012 B+ 1,355 1,436,300
Commodity Chemicals 1.25% 2,149,009
Lyondell Chemical Co.,
Gtd Note (L) 9.500 12-15-2008 B+ 1,010 1,102,162
RPM International, Inc.,
Sr Note 6.250 12-15-2013 BBB 1,000 1,046,847
Consumer Finance 4.62% 7,904,905
Capital One Financial Corp.,
Sr Note 6.250 11-15-2013 BBB- 1,000 1,073,768
Ford Motor Credit Co.,
Note 7.375 10-28-2009 BBB- 1,925 2,108,520
General Motors Acceptance Corp.,
Note 7.250 03-02-2011 BBB 3,000 3,203,115
Household Finance Corp.,
Note 6.750 05-15-2011 A 1,350 1,519,502
Department Stores 0.76% 1,299,575
Penney J.C. Co., Inc.,
Deb 7.650 08-15-2016 BB+ 1,145 1,299,575
Diversified Banks 3.39% 5,798,894
Bank of New York,
Cap Security (S) 7.780 12-01-2026 A- 620 693,479
Barclays Bank Plc,
Perpetual Bond (6.860% to 6-15-32 then variable) (United Kingdom)
(S) 6.860 09-29-2049 A+ 1,580 1,739,362
Mizuho Financial Group Cayman Ltd.,
Gtd Note (Cayman Islands) 8.375 12-29-2049 Baa1 750 811,411
Royal Bank of Scotland Group Plc,
Perpetual Bond (7.648% to 09-30-31 then variable) (United
Kingdom) 7.648 08-29-2049 A 630 751,511
Wachovia Corp.,
Sub Note 5.250 08-01-2014 A- 1,000 1,022,240
Woori Bank,
Sub Deb (5.750% to 03-13-09 then variable) (South Korea) (S) 5.750 03-13-2014 BBB- 750 780,891
Diversified Chemicals 1.92% 3,295,289
NOVA Chemicals Corp.,
Med Term Note (Canada) 7.400 04-01-2009 BB+ 1,955 2,116,288
Potash Corp. of Saskatchewan, Inc.,
Note (Canada) 7.750 05-31-2011 BBB+ 1,000 1,179,001
Diversified Commercial Services 1.98% 3,384,565
Brascan Corp.,
Note (Canada) 5.750 03-01-2010 A- 1,750 1,852,128
Hutchison Whampoa International Ltd.,
Gtd Note (U.S. Virgin Islands) (S) 6.500 02-13-2013 A- 750 789,937
Sotheby's Holdings, Inc.,
Note 6.875 02-01-2009 B+ 750 742,500
Electric Utilities 9.26% 15,854,441
AES Eastern Energy L.P.,
Pass Thru Ctf Ser 1999A 9.000 01-02-2017 BB+ 377 424,581
Beaver Valley Funding Corp.,
Sec Lease Obligation Bond 9.000 06-01-2017 BB+ 915 1,069,202
BVPS II Funding Corp.,
Collateralized Lease Bond 8.890 06-01-2017 BB+ 700 807,002
CalEnergy Co., Inc.,
Sr Bond 8.480 09-15-2028 BBB- 525 666,190
El Paso Electric Co.,
1st Mtg Ser E 9.400 05-01-2011 BBB 1,000 1,123,026
Empresa Electrica Guacolda S.A.,
Sr Sec Note (Chile) (S) 8.625 04-30-2013 BBB- 900 1,012,812
Exelon Generation Co., LLC,
Note 5.350 01-15-2014 A- 1,000 1,021,254
HQI Transelect Chile S.A.,
Sr Note (Chile) 7.875 04-15-2011 A- 1,175 1,365,484
IPALCO Enterprises, Inc.,
Sr Sec Note 8.625 11-14-2011 BB- 315 355,950
Midland Funding Corp. II,
Deb Ser B 13.250 07-23-2006 BB- 2,220 2,507,443
MSW Energy Holdings LLC/MSW Energy Finance Co.,
Sr Sec Note Ser B 7.375 09-01-2010 BB- 750 787,500
PNPP II Funding Corp.,
Deb 9.120 05-30-2016 BB+ 474 559,481
PPL Capital Funding,
Gtd Sr Note Ser A 4.330 03-01-2009 BBB- 1,000 988,129
System Energy Resources, Inc.,
Sec Bond (S) 5.129 01-15-2014 BBB 500 504,765
TransAlta Corp.,
Note (Canada) 5.750 12-15-2013 BBB- 2,000 2,054,548
Waterford 3 Funding Corp.,
Sec Lease Obligation Bond 8.090 01-02-2017 BBB- 536 607,074
Electrical Components & Equipment 0.96% 1,638,087
AMETEK, Inc.,
Sr Note 7.200 07-15-2008 BBB 1,500 1,638,087
Environmental Services 0.92% 1,569,277
Allied Waste North America, Inc.,
Gtd Sr Sub Note Ser B 10.000 08-01-2009 B+ 1,491 1,569,277
Food Retail 1.00% 1,713,036
Delhaize America, Inc.,
Gtd Note 8.125 04-15-2011 BB+ 1,500 1,713,036
Foreign Government 1.10% 1,881,955
Colombia, Republic of,
Note (Colombia) (L) 10.000 01-23-2012 BB 1,000 1,108,000
Mexican States, United,
Global Med Term Note Ser A (Mexico) 6.375 01-16-2013 BBB- 735 773,955
Gas Utilities 2.16% 3,695,054
CenterPoint Energy Resources Corp.,
Sr Note Ser B 7.875 04-01-2013 BBB 560 660,111
Duke Capital LLC,
Sr Note 8.000 10-01-2019 BBB- 750 896,914
Korea Gas Corp.,
Sr Unsub Note (South Korea) (S) 4.750 11-26-2010 A- 1,000 1,006,828
Magellan Midstream Partners, L.P.,
Note 6.450 06-01-2014 BBB 590 620,263
NorAm Energy Corp.,
Deb 6.500 02-01-2008 BBB 475 510,938
Health Care Facilities 1.29% 2,210,173
HCA, Inc.,
Note 5.250 11-06-2008 BBB- 1,000 1,023,921
Note 8.750 09-01-2010 BBB- 1,012 1,186,252
Highways & Railtracks 1.60% 2,738,346
CSX Corp.,
Sr Note 4.875 11-01-2009 BBB 2,000 2,056,596
TFM S.A. de C.V.,
Gtd Sr Disc Note (Mexico) 11.750 06-15-2009 B 675 681,750
Hotels, Resorts & Cruise Lines 2.75% 4,711,477
Harrah's Operating Co., Inc.,
Gtd Sr Note (S) 5.500 07-01-2010 BBB- 720 743,957
Gtd Sr Sub Note 7.875 12-15-2005 BB+ 715 755,219
Hyatt Equities LLC,
Note (S) 6.875 06-15-2007 BBB 1,050 1,120,363
Meditrust,
Note 7.000 08-15-2007 BB- 1,700 1,795,625
Starwood Hotels & Resorts Worldwide, Inc.,
Gtd Sr Note 7.375 05-01-2007 BB+ 275 296,313
Industrial Conglomerates 0.33% 570,000
Waste Services, Inc.,
Sr Sub Note (L)(S) 9.500 04-15-2014 CCC 600 570,000
Industrial Machinery 2.16% 3,698,713
Kennametal, Inc.,
Sr Note 7.200 06-15-2012 BBB 1,385 1,511,083
Manitowoc Co., Inc., (The),
Sr Note 7.125 11-01-2013 B+ 500 528,750
Tyco International Group S.A.,
Gtd Note (Luxembourg) 6.375 10-15-2011 BBB 1,500 1,658,880
Insurance Brokers 0.59% 1,010,074
Mantis Reef Ltd.,
Note (Australia) (S) 4.692 11-14-2008 A- 1,000 1,010,074
Investment Banking & Brokerage 0.74% 1,273,493
Citigroup, Inc.,
Sub Note 6.000 10-31-2033 A+ 540 547,436
Morgan Stanley,
Sub Note 4.750 04-01-2014 A 750 726,057
IT Consulting & Other Services 0.85% 1,458,371
NCR Corp.,
Note 7.125 06-15-2009 BBB- 375 415,871
Unisys Corp.,
Sr Note 6.875 03-15-2010 BB+ 1,000 1,042,500
Leisure Facilities 0.46% 782,250
Cinemark USA, Inc.,
Sr Sub Note 9.000 02-01-2013 B- 700 782,250
Leisure Products 0.79% 1,352,231
Brunswick Corp.,
Note 5.000 06-01-2011 BBB+ 1,000 1,034,231
K2 Corp.,
Sr Note (S) 7.375 07-01-2014 BB 300 318,000
Metal & Glass Containers 1.28% 2,190,000
BWAY Corp.,
Sr Sub Note 10.000 10-15-2010 B- 500 547,500
Owens-Brockway Glass Container, Inc.,
Gtd Sr Note 8.750 11-15-2012 BB- 1,000 1,110,000
Gtd Sr Note 8.250 05-15-2013 B 500 532,500
Multi-Line Insurance 0.63% 1,077,269
Assurant, Inc.,
Note 5.625 02-15-2014 BBB+ 490 502,807
Massachusetts Mutual Life Insurance Co.,
Surplus Note (S) 7.625 11-15-2023 AA 470 574,462
Multi-Media 1.16% 1,982,409
News America Holdings, Inc.,
Gtd Sr Deb 8.250 08-10-2018 BBB- 510 630,207
Time Warner, Inc.,
Deb 9.125 01-15-2013 BBB+ 1,080 1,352,202
Office Services & Supplies 1.53% 2,627,403
Office Depot, Inc.,
Note 6.250 08-15-2013 BBB- 1,500 1,606,181
Steelcase, Inc.,
Sr Note 6.375 11-15-2006 BBB- 980 1,021,222
Oil and Gas Exploration And Production 5.90% 10,110,890
Alberta Energy Co. Ltd.,
Note (Canada) 8.125 09-15-2030 A- 685 874,042
Canadian Oil Sands Ltd.,
Note (Canada) (S) 4.800 08-10-2009 BBB+ 1,000 1,014,183
Gazprom,
Loan Part Note (Russia) (S) 9.625 03-01-2013 BB- 1,000 1,110,000
Grant Prideco Escrow Corp.,
Sr Note Ser B 9.000 12-15-2009 BB- 500 558,750
Occidental Petroleum Corp.,
Sr Deb 10.125 09-15-2009 BBB+ 1,102 1,385,045
Pemex Project Funding Master Trust,
Gtd Note 9.125 10-13-2010 BBB- 1,065 1,267,350
Plains Exploration & Production Co.,
Sr Note (L) 7.125 06-15-2014 BB- 500 536,250
Salton Sea Funding Corp.,
Sr Sec Note Ser C 7.840 05-30-2010 BB+ 1,527 1,624,922
TEPPCO Partners, L.P.,
Gtd Sr Note 7.625 02-15-2012 BBB 1,500 1,740,348
Oil & Gas Refining & Marketing 0.59% 1,007,603
Enterprise Products Operations L.P.,
Sr Note (S) 5.600 10-15-2014 BB+ 1,000 1,007,603
Other Diversified Financial Services 1.08% 1,852,473
Glencore Funding LLC,
Gtd Note (S) 6.000 04-15-2014 BBB 1,000 969,848
Humpuss Funding Corp.,
Note (S) 7.720 12-15-2009 B2 220 198,744
St. George Funding Co.,
Perpetual Bond (8.485% to 06-30-17 then variable) (Australia) (S) 8.485 12-31-2049 BBB+ 595 683,881
Paper Packaging 1.55% 2,649,573
Sealed Air Corp.,
Sr Note (S) 5.375 04-15-2008 BBB 1,190 1,242,510
Stone Container Corp.,
Sr Note 9.750 02-01-2011 B 275 304,563
Sr Note 8.375 07-01-2012 B 1,000 1,102,500
Paper Products 3.96% 6,777,999
Abitibi-Consolidated Co.,
Gtd Sr Note (Canada) 6.950 12-15-2006 BB 2,000 2,065,000
Boise Cascade Corp.,
Sr Note 6.500 11-01-2010 BB 1,065 1,187,475
International Paper Co.,
Note 5.850 10-30-2012 BBB 2,000 2,113,024
MDP Acquisitions Plc,
Sr Note (Ireland) 9.625 10-01-2012 B 1,250 1,412,500
Pharmaceuticals 1.90% 3,258,124
Medco Health Solutions, Inc.,
Sr Note (L) 7.250 08-15-2013 BBB 1,550 1,727,735
Wyeth,
Note 5.500 03-15-2013 A 1,500 1,530,389
Property and Casualty Insurance 0.59% 1,013,590
Ohio Casualty Corp.,
Note 7.300 06-15-2014 BB 750 791,476
URC Holdings Corp.,
Sr Note (S) 7.875 06-30-2006 AA- 205 222,114
Publishing 0.27% 459,425
Dex Media West,
Sr Sub Note 9.875 08-15-2013 B 391 459,425
Real Estate Investment Trusts 1.76% 3,021,907
Healthcare Realty Trust, Inc.,
Sr Note 8.125 05-01-2011 BBB- 165 192,829
iStar Financial, Inc.,
Sr Note 7.000 03-15-2008 BB+ 500 539,953
ProLogis Trust,
Sr Note 7.050 07-15-2006 BBB+ 490 522,612
Spieker Properties, Inc., L.P.,
Note 7.125 12-01-2006 BBB+ 1,000 1,086,203
TriNet Corporate Realty Trust, Inc.,
Sr Note 7.700 07-15-2017 BB+ 600 680,310
Real Estate Management & Development 0.32% 549,374
Socgen Real Estate Co. LLC,
Perpetual Bond Ser A (7.640% to 09-30-07 then variable) (S) 7.640 12-29-2049 A 495 549,374
Regional Banks 0.32% 555,932
Greater Bay Bancorp.,
Sr Note Ser B 5.250 03-31-2008 BBB- 540 555,932
Telecommunication Services 7.74% 13,251,404
AT&T Corp.,
Sr Note 8.050 11-15-2011 BB+ 1,740 1,946,625
BellSouth Corp.,
Bond 5.200 09-15-2014 A 350 353,263
Deutsche Telekom International Finance B.V.,
Bond (Coupon rate step up/down on rating) (Netherlands) 8.500 06-15-2010 BBB+ 950 1,138,659
France Telecom S.A.,
Note (France) 8.500 03-01-2011 BBB+ 1,150 1,376,642
Qwest Capital Funding, Inc.,
Gtd Note 7.000 08-03-2009 B 1,700 1,555,500
Sprint Capital Corp.,
Gtd Sr Note 7.625 01-30-2011 BBB- 1,000 1,155,331
Note 6.875 11-15-2028 BBB- 820 860,092
Telecom Italia Capital,
Gtd Class B Note (Luxembourg) (L)(S) 5.250 11-15-2013 BBB+ 1,500 1,528,301
Telefonos de Mexico S.A. de C.V.,
Note (Mexico) 4.500 11-19-2008 BBB- 1,750 1,755,143
Telus Corp.,
Note (Canada) 8.000 06-01-2011 BBB 1,350 1,581,848
Telecommunications Equipment 0.84% 1,437,981
Corning, Inc.,
Med Term Note 8.300 04-04-2025 BB+ 1,150 1,198,129
Note 6.300 03-01-2009 BB+ 230 239,852
Thrifts & Mortgage Finance 7.98% 13,674,801
Ameriquest Mortgage Securities, Inc.,
Pass Thru Ctf Ser 2003-IA1 Class A4 4.965 11-25-2033 AAA 2,000 2,026,756
Bear Stearns Commericial Mortgage Securities, Inc.,
Commercial Sub Bond Ser 2004-ESA Class C (S) 4.937 05-14-2016 AA 1,000 1,024,417
ContiMortgage Home Equity Loan Trust,
Pass Thru Ctf Ser 1995-2 Class A-5 8.100 08-15-2025 AAA 233 232,972
Countrywide Alternative Loan Trust,
Ser 2004-24 Class 1A1 6.000 11-25-2034 AAA 1,315 1,350,957
Credit-Based Asset Servicing and Securitization, LLC
Mtg Asset Backed Ctf Ser 2004-CB4 Class A3 4.632 05-25-2035 AAA 1,000 1,006,160
Deutsche Mortgage & Asset Receiving Corp.,
Commercial Mtg Pass-Thru Ctf Ser 1998-C1 Class C 6.861 06-15-2031 A2 400 439,278
DLJ Motgage Acceptance Corp.,
Commercial Mortgage Pass Thru Ctf Ser 1996-CFI Class B1 (S) 8.311 03-13-2028 A 1,465 1,563,512
Global Signal Trust,
Sub Bond Ser 2004-1A Class D (S) 5.098 01-15-2034 BBB 2,000 1,971,616
LB-UBS Commercial Mortgage Trust,
Commercial Mtg Pass Thru Ctf Ser 2003-C3 Class A4 4.166 05-15-2032 AAA 1,000 970,926
MBNA Master Credit Card Trust,
Sub Bond Ser 1998-E Class C (S) 6.600 09-15-2010 BBB 1,000 1,079,807
WFS Financial Owner Trust,
Pass Thru Ctf Ser 2004-3 Class A3 3.300 03-17-2009 AAA 2,000 2,008,400
Tobacco 1.09% 1,869,474
Altria Group, Inc.,
Note 7.000 11-04-2013 BBB 795 829,474
Commonwealth Brands, Inc.,
Sr Sec Sub Note (S) 10.625 09-01-2008 B- 1,000 1,040,000
Trucking 0.32% 548,230
CNF, Inc.,
Sr Deb Ser B 6.700 05-01-2034 BBB- 535 548,230
Wireless Telecommunication Service 3.05% 5,218,272
America Movil S.A. de C.V.,
Gtd Note (Mexico) (S) 5.500 03-01-2014 BBB- 735 710,365
AT&T Wireless Services, Inc.,
Note 8.125 05-01-2012 BBB 1,475 1,782,282
Mobile Telesystems Finance S. A.,
Gtd Bond (Luxembourg) 10.950 12-21-2004 BB- 500 505,000
Gtd Bond (Luxembourg) (S) 10.950 12-21-2004 BB- 500 505,000
Gtd Sr Note (Luxembourg) (S) 9.750 01-30-2008 BB- 350 371,875
Nextel Communications, Inc.,
Sr Note 7.375 08-01-2015 BB 1,250 1,343,750
Credit
Issuer, description rating (A) Shares Value
Preferred stocks 1.84% $3,157,168
(Cost $3,056,298)
Diversified Banks 0.60% 1,030,968
Abbey National Plc, 7.375% (United Kingdom) A- 38,700 1,030,968
Electric Utilities 0.62% 1,066,200
Ameren Corp., 9.75%, Conv BBB+ 20,000 549,200
DTE Energy Co., 8.75%, Conv BBB 20,000 517,000
Gas Utilities 0.62% 1,060,000
KeySpan Corp., 8.75%, Conv A 20,000 1,060,000
Interest Maturity Credit Par value
Issuer, description rate (%) date rating (A) ($000) Value
U.S. government and agencies securities 40.88% $70,013,183
(Cost $69,664,154)
Government U.S. 9.05% 15,494,529
United States Treasury,
Bond (L) 9.125 05-15-2018 AAA 555 811,796
Bond (L) 5.375 02-15-2031 AAA 1,745 1,869,331
Note (L) 6.000 08-15-2009 AAA 3,265 3,649,914
Note (L) 4.750 05-15-2014 AAA 6,275 6,586,792
Note (L) 4.250 08-15-2014 AAA 2,550 2,576,696
Government U.S. Agency 31.83% 54,518,654
Federal Home Loan Mortgage Corp.,
20 Yr Pass Thru Ctf 11.250 01-01-2016 AAA 48 53,465
30 Yr Pass Thru Ctf (M) 6.000 08-01-2034 AAA 10,533 10,892,970
CMO REMIC 2563-PA (G) 4.250 03-15-2031 AAA 898 892,071
Federal National Mortgage Assn.,
15 Yr Pass Thru Ctf 7.500 02-01-2008 AAA 19 21,612
15 Yr Pass Thru Ctf 7.000 04-01-2017 AAA 79 84,154
15 Yr Pass Thru Ctf 7.000 09-01-2010 AAA 58 61,587
15 Yr Pass Thru Ctf 7.000 10-01-2012 AAA 22 23,415
15 Yr Pass Thru Ctf 7.000 02-01-2016 AAA 1,636 1,736,857
30 Yr Pass Thru Ctf (M) 5.500 10-01-2033 AAA 1,190 1,205,619
30 Yr Pass Thru Ctf (G)(M) 6.000 10-15-2034 AAA 940 972,018
30 Yr Pass Thru Ctf (G)(M) 6.500 10-01-2031 AAA 1,025 1,074,969
30 Yr Pass Thru Ctf 6.000 08-01-2034 AAA 5,328 5,519,763
30 Yr Pass Thru Ctf 5.500 04-01-2033 AAA 23 23,580
30 Yr Pass Thru Ctf 6.000 12-01-2033 AAA 9,768 10,121,408
30 Yr Pass Thru Ctf 6.000 01-01-2034 AAA 15,966 16,541,962
30 Yr Pass Thru Ctf 7.000 02-01-2034 AAA 1,149 1,219,486
CMO REMIC 2003-16-PD (G) 5.000 10-25-2016 AAA 1,275 1,298,265
CMO REMIC 2003-17-QT 5.000 08-25-2027 AAA 1,595 1,596,531
Financing Corp.,
Bond 9.400 02-08-2018 AAA 785 1,123,895
Government National Mortgage Assn.,
30 Yr Pass Thru Ctf 9.500 02-15-2025 AAA 13 14,965
30 Yr Pass Thru Ctf 9.500 11-15-2019 AAA 7 8,984
30 Yr Pass Thru Ctf 10.000 11-15-2020 AAA 16 18,372
30 Yr Pass Thru Ctf 9.500 01-15-2021 AAA 11 12,706
Interest Credit Par value
Issuer, description, maturity date rate (%) rating (A) ($000) Value
Short-term investments 8.26% $14,146,000
(Cost $14,146,000)
Government U.S. Agency 8.23% 14,100,000
Federal Home Loan Bank,
Disc Note 10-01-04 Zero AAA 14,100 14,100,000
Joint Repurchase Agreement 0.03% 46,000
Investment in a joint repurchase agreement transaction with
Barclays Capital, Inc. - Dated 09-30-04, due 10-01-04 (Secured by
U.S. Treasury Inflation Indexed Bond 3.875%, due 04-15-29) 1.760 46 46,000
Total investments 156.17% $267,461,172
Other assets and liabilities, net (56.17%) ($96,195,391)
Total net assets 100.00% $171,265,781
(A) Credit ratings are unaudited and are rated by Moody's Investors
Service, where Standard & Poor's ratings are not available.
(B) This security is fair valued in good faith under procedures
established by the Board of Trustees.
(G) Security rated internally by John Hancock Advisers, LLC.
(H) Non-income-producing issuer filed for protection under the Federal
Bankruptcy Code or is in default of interest payment.
(L) All or a portion of this security is on loan on September 30, 2004.
(M) A portion of these securities having an aggregate value of
$21,690,589, or 12.66% of the Fund's net assets, have been purchased
as forward commitments--that is, the Fund has agreed on trade date to
take delivery of and to make payment for these securities on a delayed
basis subsequent to the date of this schedule. The purchase price and
interest rate of these securities are fixed at trade date, although
the Fund does not earn any interest on these until settlement date.
The Fund has segregated assets with a current value at least equal to
the amount of the forward commitments.
Accordingly, the market value of $22,275,892 of Federal National
Mortgage Assn., 6.000%, 12-01-33 and Federal National Mortgage Assn.,
6.000%, 01-01-34 has been segregated to cover the forward commitments.
(O) Cash interest will be paid on this obligation at the stated rate
beginning on the stated 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 $33,542,505 or 19.59%
of net assets as of September 30, 2004.
Parenthetical disclosure of a foreign country in the security
description represents country of a foreign issuer, however, security
is U.S. dollar denominated.
The percentage shown for each investment category is the total value
of that category as a percentage of the net assets of the Fund.
The cost of investments owned on September 30, 2004, including
short-term investments, was $262,311,485.
Gross unrealized appreciation and depreciation of investments
aggregated $8,407,491 and ($3,796,950), respectively, resulting in net
unrealized appreciation of $4,610,541.
For more information
Trustees
Charles L. Ladner, Chairman*
Dennis S. Aronowitz
Richard P. Chapman, Jr.
William J. Cosgrove
Richard A. Farrell
William F. Glavin*
Dr. John A. Moore*
Patti McGill Peterson*
John W. Pratt
James A. Shepherdson
*Members of the Audit Committee
Officers
James A. Shepherdson
President and Chief Executive Officer
Susan S. Newton
Senior Vice President and Secretary
William H. King
Vice President and Treasurer
Investment Adviser
John Hancock Advisers, LLC
101 Huntington Avenue
Boston, Massachusetts 02199-7603
Custodian
The Bank of New York
One Wall Street
New York, New York 10286
Transfer Agent and Registrar
Mellon Investor Services
85 Challenger Road
Overpeck Centre
Ridgefield Park, New Jersey 07660
Transfer Agent for APS
Deutsche Bank Trust Company Americas
280 Park Avenue
New York, New York 10017
Legal Counsel
Wilmer Cutler Pickering Hale and Dorr LLP
60 State Street
Boston, Massachusetts 02109-1803
Stock Symbol
Listed New York Stock Exchange: JHI
How to contact us
Internet www.jhfunds.com
Mail Regular mail:
Mellon Investor Services
85 Challenger Road
Overpeck Centre
Ridgefield Park, NJ 07660
Phone Customer service representatives 1-800-852-0218
Portfolio commentary 1-800-344-7054
24-hour automated information 1-800-843-0090
TDD line 1-800-231-5469
This report is for the information of the shareholders of
the John Hancock Investors Trust.
P50Q3 9/04
11/04
ITEM 2. 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-Q,
the registrant's principal executive officer and principal accounting
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 registrant's last fiscal
quarter that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting.
ITEM 3. EXHIBITS.
Separate certifications for the registrant's principal executive officer
and principal accounting officer, as required by Rule 30a-2(a) under the
Investment Company Act of 1940, are attached.
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 Investors Trust
By:
------------------------------
James A. Shepherdson
President and Chief Executive Officer
Date: November 23, 2004
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:
------------------------------
James A. Shepherdson
President and Chief Executive Officer
Date: November 23, 2004
By:
------------------------------
William H. King
Vice President and Treasurer
Date: November 23, 2004