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)
Brian E. Langenfeld, Attorney and Assistant Secretary
101 Huntington Avenue
Boston, Massachusetts 02199
(Name and address of agent for service)
Registrant's telephone number, including area code: 617-375-1722
Date of fiscal year end: December 31
Date of reporting period: March 31, 2005
ITEM 1. SCHEDULE OF INVESTMENTS
JOHN HANCOCK
Investors Trust
3.31.2005
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
March 31, 2005 (unaudited)
Interest Maturity Credit Par value
Issuer, description rate (%) date rating (A) ($000) Value
---------------------------------------------------------------------------------------------------------------------------------
Bonds 67.59% $170,717,005
(Cost $169,240,551)
Aerospace & Defense 0.45% 1,148,160
Raytheon Co.,
Note 8.300 03-01-2010 BBB- 1,000 1,148,160
Agricultural Products 0.50% 1,262,893
Chaoda Modern Agriculture Holdings Ltd.,
Gtd Sr Note (Cayman Islands) (L)(S) 7.750 02-08-2010 BB 400 366,000
Corn Products International, Inc.,
Sr Note 8.450 08-15-2009 BBB- 795 896,893
Airlines 1.30% 3,274,699
American Airlines, Inc.,
Pass Thru Ctf Ser 2001-2 (L) 7.858 10-01-2011 A- 1,000 1,021,580
Continental Airlines, Inc.,
Pass Thru Ctf Ser 1999-1A 6.545 02-02-2019 A- 1,549 1,509,966
Pass Thru Ctf Ser 2000-2 Class B (L) 8.307 10-02-2019 BBB- 499 429,051
Pass Thru Ctf Ser 2001-1 Class C 7.033 06-15-2011 BB- 175 148,542
Jet Equipment Trust,
Equip Trust Ctf Ser 1995-B2 (B)(H)(S) 10.910 08-15-2014 D 550 2,750
Northwest Airlines Corp.,
Pass Thru Ctf Ser 1996-1D 8.970 01-02-2015 CCC+ 257 162,810
Apparel Retail 0.22% 564,419
Gap, Inc. (The),
Note (L) 9.800 12-15-2008 BBB- 485 564,419
Asset Management & Custody Banks 0.60% 1,506,689
Rabobank Capital Fund II,
Perpetual Bond (5.260% to 12-31-13 then
variable) (S) 5.260 12-29-2049 AA 1,500 1,506,689
Auto Parts & Equipment 0.62% 1,576,884
American Axle & Manufacturing, Inc.,
Sr Note 5.250 02-11-2014 BBB 500 445,984
TRW Automotive, Inc.,
Sr Note (L) 9.375 02-15-2013 BB- 1,052 1,130,900
Brewers 0.38% 957,829
Fosters Financial Corp.,
Note (S) 4.875 10-01-2014 BBB+ 1,000 957,829
Broadcasting & Cable TV 3.76% 9,506,645
AT&T Broadband Corp.,
Gtd Note 8.375 03-15-2013 BBB 980 1,164,468
British Sky Broadcasting Group Plc,
Gtd Sr Note (United Kingdom) 8.200 07-15-2009 BBB- 905 1,020,530
Charter Communications Holdings LLC/Charter
Communications Holdings Capital Corp.,
Sr Note 10.250 09-15-2010 CCC- 2,000 2,040,000
Innova S. de R.L.,
Note (Mexico) 9.375 09-19-2013 B+ 1,500 1,661,250
Shaw Communications, Inc.,
Sr Note (Canada) 8.250 04-11-2010 BB+ 1,000 1,100,000
TCI Communications, Inc.,
Sr Deb 9.800 02-01-2012 BBB 840 1,052,890
XM Satellite Radio, Inc.,
Sr Sec Note 12.000 06-15-2010 CCC+ 622 724,630
Sr Sec Note, Step Coupon (Zero to 12-31-05,
then 14.000%) (O) Zero 12-31-2009 CCC+ 728 742,877
Building Products 0.83% 2,098,454
Pulte Homes, Inc.,
Sr Note (L) 6.250 02-15-2013 BBB- 1,000 1,031,033
Toll Brothers, Inc.,
Gtd Sr Note 6.875 11-15-2012 BBB- 1,000 1,067,421
Casinos & Gaming 2.62% 6,623,382
Chukchansi Economic Development Auth.,
Sr Note (G)(S) 14.500 06-15-2009 CCC+ 1,000 1,230,000
Harrah's Operating Co., Inc.,
Gtd Sr Note 8.000 02-01-2011 BBB- 735 834,055
Gtd Sr Note 5.500 07-01-2010 BBB- 720 732,452
Jacob's Entertainment, Inc.,
Sec Note (S) 11.875 02-01-2009 B 700 770,000
Mohegan Tribal Gaming Auth.,
Sr Sub Note 7.125 08-15-2014 B+ 250 250,625
MTR Gaming Group, Inc.,
Gtd Sr Note Ser B 9.750 04-01-2010 B+ 800 872,000
Premier Entertainment Biloxi,
1st Mtg Note 10.750 02-01-2012 B- 25 25,500
Trump Casino Holdings, LLC/Trump Casino Funding, Inc.,
Gtd Sr Sec 1st Mtg Note (G)(H) 12.625 03-15-2010 D 500 543,750
Waterford Gaming, LLC,
Sr Note (S) 8.625 09-15-2012 B+ 1,300 1,365,000
Commodity Chemicals 0.84% 2,127,662
Lyondell Chemical Co.,
Gtd Sec Note 9.500 12-15-2008 B+ 1,010 1,080,700
RPM International, Inc.,
Sr Note 6.250 12-15-2013 BBB 1,000 1,046,962
Consumer Finance 3.21% 8,115,104
Capital One Financial Corp.,
Sr Note 6.250 11-15-2013 BBB- 1,000 1,057,123
CIT Group, Inc.,
Sr Note 5.000 02-13-2014 A 720 707,600
Ford Motor Credit Co.,
Note 7.375 10-28-2009 BBB- 1,925 1,933,412
General Motors Acceptance Corp.,
Note 7.250 03-02-2011 BBB- 2,450 2,274,695
Household Finance Corp.,
Note 6.375 10-15-2011 A 615 664,384
HSBC Finance Corp.,
Sr Note 6.750 05-15-2011 A 1,350 1,477,890
Department Stores 0.30% 750,500
Penney J.C. Co., Inc.,
Deb 7.650 08-15-2016 BB+ 790 750,500
Diversified Banks 2.13% 5,383,154
Bank of New York,
Cap Security (S) 7.780 12-01-2026 A- 620 668,633
Barclays Bank Plc,
Perpetual Bond (6.86% to 6-15-32 then variable)
(United Kingdom) (S) 6.860 09-29-2049 A+ 1,580 1,768,911
Chuo Mitsui Trust & Banking Co.,
Perpetual Sub Note (5.506% to 04-15-15 then
variable) (Japan) (S) 5.506 12-01-2049 BAA2 375 358,563
Mizuho Financial Group Cayman Ltd.,
Gtd Note (Cayman Islands) 8.375 12-29-2049 A2 750 810,176
Royal Bank of Scotland Group Plc,
Perpetual Bond (7.648% to 09-30-31 then
variable) (United Kingdom) 7.648 08-29-2049 A 630 774,024
Wachovia Corp.,
Sub Note 5.250 08-01-2014 A- 1,000 1,002,847
Diversified Chemicals 1.27% 3,214,506
NOVA Chemicals Corp.,
Med Term Note (Canada) 7.400 04-01-2009 BB+ 1,955 2,067,413
Potash Corp. of Saskatchewan, Inc.,
Note (Canada) 7.750 05-31-2011 BBB+ 1,000 1,147,093
Diversified Commercial Services 0.98% 2,476,251
Hutchison Whampoa International Ltd.,
Gtd Note (United Kingdom) (S) 6.500 02-13-2013 A- 750 791,580
Noble Group Ltd.,
Sr Note (Bermuda) (S) 6.625 03-17-2015 BB+ 1,000 929,046
Sotheby's Holdings, Inc.,
Note 6.875 02-01-2009 BB- 750 755,625
Diversified Financial Services 1.20% 3,018,428
Beaver Valley Funding Corp.,
Sec Lease Obligation Bond 9.000 06-01-2017 BB+ 915 1,068,446
Glencore Funding LLC,
Gtd Note (S) 6.000 04-15-2014 BBB 1,365 1,298,108
St. George Funding Co.,
Perpetual Bond (8.485% to 06-30-17 then
variable) (Australia) (S) 8.485 12-31-2049 BBB+ 595 651,874
Diversified Metals & Mining 0.20% 492,500
Freeport-McMoRan Copper & Gold, Inc.,
Sr Note 6.875 02-01-2014 B+ 500 492,500
Electric Utilities 7.02% 17,738,259
AES Eastern Energy, L.P.,
Pass Thru Ctf Ser 1999-A 9.000 01-02-2017 BB+ 546 628,157
BVPS II Funding Corp.,
Collateralized Lease Bond 8.890 06-01-2017 BB+ 700 826,742
CE Generation LLC,
Sr Sec Note 7.416 12-15-2018 BB- 810 861,546
El Paso Electric Co.,
1st Mtg Ser E 9.400 05-01-2011 BBB 1,000 1,087,831
Empresa Electrica Guacolda S.A.,
Sr Sec Note (Chile) (S) 8.625 04-30-2013 BBB- 850 934,487
Exelon Generation Co., LLC,
Sr Note 5.350 01-15-2014 A- 1,000 1,003,666
FPL Energy National Wind,
Sec Note (S) 5.608 03-10-2024 BBB- 385 380,576
HQI Transelect Chile S.A.,
Sr Note (Chile) 7.875 04-15-2011 A- 1,175 1,343,930
Indiantown Cogeneration, L.P.,
1st Mtg Note Ser A-9 9.260 12-15-2010 BB+ 492 539,452
IPALCO Enterprises, Inc.,
Sr Sec Note 8.625 11-14-2011 BB- 315 361,462
Midland Funding Corp. II,
Deb Ser B 13.250 07-23-2006 BB- 2,220 2,390,623
MSW Energy Holdings II LLC/MSW Energy Finance Co., II,
Inc.,
Sr Sec Note Ser B 7.375 09-01-2010 BB- 750 761,250
PNPP II Funding Corp.,
Deb 9.120 05-30-2016 BB+ 471 552,398
PPL Capital Funding,
Gtd Sr Note Ser A 4.330 03-01-2009 BBB- 500 486,457
Reliant Energy, Inc.,
Sr Sec Note 6.750 12-15-2014 B+ 1,000 932,500
System Energy Resources, Inc.,
Sec Bond (S) 5.129 01-15-2014 BBB 449 438,989
TransAlta Corp.,
Note (Canada) 5.750 12-15-2013 BBB- 2,000 2,034,556
TXU Corp.,
Note (S) 6.500 11-15-2024 BBB- 980 936,497
Sec Bond 7.460 01-01-2015 BBB 615 660,008
Waterford 3 Funding Corp.,
Sec Lease Obligation Bond 8.090 01-02-2017 BBB- 534 577,132
Electrical Components & Equipment 0.63% 1,601,436
AMETEK, Inc.,
Sr Note 7.200 07-15-2008 BBB 1,500 1,601,436
Food Retail 1.22% 3,075,846
Ahold Finance USA, Inc.,
Gtd Sr Note 6.875 05-01-2029 BB- 265 251,750
Ahold Lease USA, Inc.,
Gtd Pass Thru Ctf Ser 2001A-1 (L) 7.820 01-02-2020 BB 932 1,001,691
Delhaize America, Inc.,
Gtd Note 9.000 04-15-2031 BB+ 1,500 1,822,405
Foreign Government 0.73% 1,842,563
Colombia, Republic of,
Note (Colombia) 10.000 01-23-2012 BB 1,000 1,080,000
Mexican States, United,
Global Med Term Note Ser A (Mexico) 6.375 01-16-2013 BBB- 735 762,563
Gas Utilities 0.20% 498,195
NorAm Energy Corp.,
Deb 6.500 02-01-2008 BBB 475 498,195
Health Care Facilities 0.45% 1,138,080
HCA, Inc.,
Note 8.750 09-01-2010 BB+ 1,012 1,138,080
Health Care Services 0.57% 1,432,419
Wellpoint, Inc.,
Note (S) 5.000 12-15-2014 BBB+ 1,460 1,432,419
Highways & Railtracks 1.06% 2,672,090
CSX Corp.,
Sr Note 4.875 11-01-2009 BBB 2,000 1,997,090
TFM S.A. de C.V.,
Gtd Sr Disc Deb (Mexico) 11.750 06-15-2009 B 675 675,000
Hotels, Resorts & Cruise Lines 1.23% 3,098,134
Hyatt Equities LLC,
Note (S) 6.875 06-15-2007 BBB 1,050 1,084,446
Meditrust,
Note 7.000 08-15-2007 BB- 1,700 1,729,750
Starwood Hotels & Resorts Worldwide, Inc.,
Gtd Sr Note 7.375 05-01-2007 BB+ 275 283,938
Industrial Conglomerates 0.47% 1,175,946
Vedanta Resources Plc,
Sr Note (United Kingdom) (S) 6.625 02-22-2010 BB 590 569,946
Waste Services, Inc.,
Sr Sub Note (L) (S) 9.500 04-15-2014 CCC 600 606,000
Industrial Machinery 1.12% 2,836,601
Kennametal, Inc.,
Sr Note 7.200 06-15-2012 BBB 1,385 1,530,458
Manitowoc Co., Inc., (The)
Sr Note 7.125 11-01-2013 B+ 500 515,000
Trinity Industries Leasing Co.,
Pass Thru Ctf (S) 7.755 02-15-2009 Ba1 750 791,143
Insurance Brokers 0.59% 1,493,126
Marsh & McLennan Cos., Inc.,
Sr Note 5.375 03-15-2007 BBB 1,470 1,493,126
Integrated Oil & Gas 1.25% 3,146,971
Amerada Hess Corp.,
Note 7.125 03-15-2033 BBB- 490 544,889
Pemex Project Funding Master Trust,
Gtd Note (Mexico) 9.125 10-13-2010 BBB- 1,065 1,230,075
Petro-Canada,
Deb (Canada) 9.250 10-15-2021 BBB 1,000 1,372,007
Integrated Telecommunication Services 5.09% 12,848,888
AT&T Corp.,
Med Term Note 8.350 05-15-2025 BB+ 500 517,500
Sr Note 9.050 11-15-2011 BB+ 990 1,124,887
Bellsouth Corp.,
Bond 5.200 09-15-2014 A 350 346,237
Deb 6.300 12-15-2015 A 1,110 1,169,615
Deutsche Telekom International Finance B.V.,
Bond (Coupon rate step up/down on rating)
(Netherlands) 8.500 06-15-2010 BBB+ 950 1,092,576
France Telecom S.A.,
Note (France) 8.500 03-01-2011 BBB+ 915 1,046,976
Qwest Capital Funding, Inc.,
Gtd Note (L) 7.000 08-03-2009 B 1,700 1,593,750
SBC Communications, Inc.,
Note 5.100 09-15-2014 A 830 808,985
Sprint Capital Corp.,
Gtd Sr Bond 7.625 01-30-2011 BBB- 1,000 1,113,111
Note 6.875 11-15-2028 BBB- 820 877,885
Telecom Italia Capital,
Gtd Note (Luxembourg) (S) 4.950 09-30-2014 BBB+ 1,500 1,436,859
Telefonos de Mexico, S.A. de C.V.,
Note (Mexico) 4.500 11-19-2008 BBB- 1,750 1,720,507
IT Consulting & Other Services 0.56% 1,401,105
NCR Corp.,
Note 7.125 06-15-2009 BBB- 375 403,605
Unisys Corp.,
Sr Note (L) 6.875 03-15-2010 BB+ 1,000 997,500
Leisure Facilities 0.30% 759,500
Cinemark USA, Inc.,
Sr Sub Note 9.000 02-01-2013 B- 700 759,500
Leisure Products 0.12% 310,500
K2, Inc,
Sr Note 7.375 07-01-2014 BB 300 310,500
Metal & Glass Containers 0.85% 2,152,500
BWAY Corp.,
Gtd Sr Sub Note 10.000 10-15-2010 B- 500 531,250
Owens-Brockway Glass Container, Inc.,
Gtd Sr Sec Note 8.750 11-15-2012 BB- 1,000 1,092,500
Gtd Sr Note 8.250 05-15-2013 B 500 528,750
Multi-Line Insurance 0.44% 1,110,646
Assurant, Inc.,
Sr Note 6.750 02-15-2034 BBB+ 490 531,536
Massachusetts Mutual Life Insurance Co.,
Surplus Note (S) 7.625 11-15-2023 AA 470 579,110
Multi-Media 0.77% 1,950,553
News America Holdings, Inc.,
Gtd Sr Deb 8.250 08-10-2018 BBB- 510 616,090
Time Warner, Inc.,
Deb 9.125 01-15-2013 BBB+ 1,080 1,334,463
Multi-Utilities & Unregulated Power 1.23% 3,106,876
CalEnergy Co., Inc.,
Sr Bond 8.480 09-15-2028 BBB- 525 686,416
Duke Capital LLC,
Sr Note 8.000 10-01-2019 BBB- 455 539,797
Salton Sea Funding Corp.,
Sr Sec Note Ser C 7.840 05-30-2010 BB+ 1,761 1,880,663
Office Services & Supplies 1.02% 2,567,313
Office Depot, Inc.,
Sr Note 6.250 08-15-2013 BBB- 1,500 1,569,356
Steelcase, Inc.,
Sr Note 6.375 11-15-2006 BBB- 980 997,957
Oil & Gas Drilling 1.15% 2,906,559
Alberta Energy Co., Ltd.,
Note (Canada) 8.125 09-15-2030 A- 685 893,675
Delek & Avner-Yam Tethys,
Sr Sec Note (Israel) (S) 5.326 08-01-2013 BBB- 335 330,384
Gazprom,
Loan Part Note (Russia) (S) 9.625 03-01-2013 BB- 1,000 1,142,500
Grant Prideco Escrow Corp.,
Sr Note Ser B 9.000 12-15-2009 BB- 500 540,000
Oil & Gas Exploration & Production 1.40% 3,537,467
Occidental Petroleum Corp.,
Sr Deb 10.125 09-15-2009 BBB+ 1,102 1,316,703
Plains Exploration & Production Co.,
Sr Note 7.125 06-15-2014 BB- 500 522,500
TEPPCO Partners, L.P.,
Gtd Sr Note 7.625 02-15-2012 BBB 1,500 1,698,264
Oil & Gas Refining & Marketing 0.39% 986,930
Enterprise Products Operations, L.P.,
Gtd Sr Note Ser B 5.600 10-15-2014 BB+ 1,000 986,930
Paper Packaging 0.53% 1,326,750
Stone Container Corp.,
Sr Note 9.750 02-01-2011 B 275 294,250
Sr Note 8.375 07-01-2012 B 1,000 1,032,500
Paper Products 1.33% 3,353,750
Abitibi-Consolidated Co.,
Gtd Sr Note (Canada) 6.950 12-15-2006 BB 2,000 2,010,000
MDP Acquisitions Plc,
Sr Note (Ireland) 9.625 10-01-2012 B 1,250 1,343,750
Pharmaceuticals 1.28% 3,238,082
Medco Health Solutions, Inc.,
Sr Note 7.250 08-15-2013 BBB 1,550 1,713,303
Wyeth,
Note 5.500 03-15-2013 A 1,500 1,524,779
Property & Casualty Insurance 0.54% 1,375,216
Markel Corp.,
Sr Note 7.350 08-15-2034 BBB- 330 360,244
Ohio Casualty Corp.,
Note 7.300 06-15-2014 BB 750 801,644
URC Holdings Corp.,
Sr Note (S) 7.875 06-30-2006 AA- 205 213,328
Publishing 0.17% 435,965
Dex Media West,
Sr Sub Note 9.875 08-15-2013 B 391 435,965
Real Estate Investment Trusts 0.70% 1,776,125
Healthcare Realty Trust, Inc.,
Sr Note 8.125 05-01-2011 BBB- 165 189,099
iStar Financial, Inc.,
Sr Note 7.000 03-15-2008 BBB- 785 831,756
ProLogis Trust,
Sr Note 7.050 07-15-2006 BBB+ 490 507,145
Ventas Realty, L.P./Capital Corp.,
Sr Note 6.625 10-15-2014 BB 250 248,125
Real Estate Management & Development 0.54% 1,355,404
Post Apartment Homes,
Sr Note 5.125 10-12-2011 BBB 830 825,209
Socgen Real Estate Co., LLC,
Perpetual Bond Ser A (7.64% to 09-30-07 then
variable) (S) 7.640 12-29-2049 A 495 530,195
Regional Banks 1.68% 4,246,831
Colonial Capital II,
Gtd Cap Security Ser A 8.920 01-15-2027 BB 1,029 1,123,868
Crestar Capital Trust I,
Gtd Cap Security 8.160 12-15-2026 A- 880 954,954
First Chicago NDB Institutional Capital,
Gtd Capital Bond Ser A (S) 7.950 12-01-2026 A1 500 536,958
Greater Bay Bancorp,
Sr Note Ser B 5.250 03-31-2008 BBB- 540 545,924
NB Capital Trust IV,
Gtd Cap Security 8.250 04-15-2027 A- 980 1,085,127
Specialized Finance 1.25% 3,152,453
ASG Consolidated LLC,
Sr Disc Note (Zero to 11-1-08, then 11.500%) (O) Zero 11-01-2011 B- 680 476,000
Bosphorous Financial Services,
Sr Sec Floating Rate Note (S) 4.830 02-15-2012 Baa3 500 499,802
ESI Tractebel Acquistion Corp.,
Gtd Sec Bond Ser B 7.990 12-30-2011 BB 875 928,154
Humpuss Funding Corp.,
Gtd Note (S) 7.720 12-15-2009 B2 204 198,277
MBNA Master Credit Card Trust,
Sub Bond Ser 1998-E Class C (S) 6.600 09-15-2010 BBB 1,000 1,050,220
Telecommunication Services 0.80% 2,020,097
Intelsat Ltd.,
Sr Note (Bermuda) (S) 7.805 01-15-2012 B+ 450 456,750
Telus Corp.,
Note (Canada) 8.000 06-01-2011 BBB 1,350 1,563,347
Telecommunications Equipment 0.48% 1,201,544
Corning, Inc.,
Med Term Note 8.300 04-04-2025 BB+ 1,150 1,201,544
Thrifts & Mortgage Finance 3.81% 9,622,614
Bear Stearns Alt-A Trust,
Collateralized Mtg Obligation Ser 2005-3 Class
B2 (M) 5.424 04-25-1935 AA+ 440 440,550
Bear Stearns Commericial Mortgage Securities, Inc.,
Commercial Sub Bond Ser 2004-ESA Class C (S) 4.937 05-14-2016 AA 1,000 1,000,236
ContiMortgage Home Equity Loan Trust,
Pass Thru Ctf Ser 1995-2 Class A-5 8.100 08-15-2025 AAA 202 211,742
Countrywide Alternative Loan Trust,
Mtg Asset Backed Pass Thru Ctf Ser 2004-24CB
Class 1A1 6.000 11-25-2034 AAA 1,204 1,223,043
Credit-Based Asset Servicing and Securitization LLC,
Mtg Asset Backed Ctf Ser 2004-CB4 Class A3 4.632 05-25-2035 AAA 1,000 1,002,583
DLJ Motgage Acceptance Corp.,
Commercial Mtg Pass Thru Ctf Ser 1996-CFI Class
B1 (S) 8.359 03-13-2028 AAA 1,465 1,514,888
Global Signal Trust,
Sub Bond Ser 2004-1A Class D (S) 5.098 01-15-2034 BBB 2,000 1,962,427
Sub Bond Ser 2004-2A Class D (S) 5.093 12-15-2014 Baa2 385 374,292
Indymac Index Mortgage Loan Trust,
Asset Backed Ctf Ser 2004-AR13 Class B1 5.296 01-25-2035 AA 470 468,602
Washington Mutual,
Mtg Ln Pass Thru Ctf Ser 2005-AR4 Class B1 4.684 04-25-2035 AA 1,458 1,424,251
Tobacco 0.42% 1,070,000
Commonwealth Brands, Inc.,
Sr Sec Sub Note (G)(S) 10.625 09-01-2008 B 1,000 1,070,000
Utilities Other 0.77% 1,941,540
Kinder Morgan Energy Partners,
Sr Note 5.000 12-15-2013 BBB+ 1,345 1,309,770
Magellan Midstream Partners, L.P.,
Note 6.450 06-01-2014 BBB 590 631,770
Wireless Telecommunication Services 2.02% 5,113,972
America Movil S.A. de C.V.,
Sr Note (Mexico) 5.750 01-15-2015 BBB 1,225 1,184,027
AT&T Wireless Services, Inc.,
Sr Note 8.125 05-01-2012 A 1,475 1,723,133
Mobile Telesystems Finance S.A.,
Gtd Sr Note (Luxembourg) (S) 9.750 01-30-2008 BB- 350 372,750
Nextel Communications, Inc.,
Sr Note 7.375 08-01-2015 BB 1,250 1,320,312
Rogers Wireless, Inc.,
Sr Sub Note (Canada) 8.000 12-15-2012 B+ 500 513,750
Credit
Issuer, description rating (A) Shares Value
---------------------------------------------------------------------------------------------------------------------------------
Preferred stocks 1.62% $4,095,531
(Cost $4,081,297)
Agricultural Products 0.41% 1,025,391
Ocean Spray Cranberries, Inc., 6.25%, Ser A (S) BB+ 12,500 1,025,391
Diversified Banks 0.40% 1,013,940
Abbey National Plc, 7.375% (United Kingdom) A- 38,700 1,013,940
Electric Utilities 0.41% 1,044,400
Ameren Corp., 9.75%, Conv BBB+ 20,000 536,400
DTE Energy Co., 8.75%, Conv BBB- 20,000 508,000
Gas Utilities 0.40% 1,011,800
KeySpan Corp., 8.75%, Conv A 20,000 1,011,800
Interest Maturity Credit Par value
Issuer, description rate (%) date rating (A) ($000) Value
---------------------------------------------------------------------------------------------------------------------------------
U.S. government and agencies securities 27.79% $70,186,166
(Cost $70,746,713)
Government U.S. 3.77% 9,506,094
United States Treasury,
Bond (L) 9.125 05-15-2018 AAA 555 792,935
Bond (L) 5.375 02-15-2031 AAA 1,610 1,754,712
Note (L) 6.250 02-15-2007 AAA 3,100 3,240,225
Note (L) 4.000 02-15-2015 AAA 3,870 3,718,222
Government U.S. Agency 24.02% 60,680,072
Federal Home Loan Bank,
Bond (N) 4.500 04-11-2008 AAA 3,000 2,993,568
Bond (N) 4.430 04-07-2008 AAA 2,450 2,450,059
Federal Home Loan Mortgage Corp.,
15 Yr Pass Thru Ctf 4.500 08-01-2019 AAA 938 919,658
15 Yr Pass Thru Ctf 4.500 11-01-2019 AAA 1,166 1,143,100
20 Yr Pass Thru Ctf 11.250 01-01-2016 AAA 39 42,557
30 Yr Pass Thru Ctf 6.000 08-01-2034 AAA 19,038 19,490,847
30 Yr Pass Thru Ctf 6.000 09-01-2034 AAA 673 688,703
Federal National Mortgage Assn.,
15 Yr Pass Thru Ctf 7.500 02-01-2008 AAA 15 15,282
15 Yr Pass Thru Ctf 7.000 09-01-2010 AAA 46 47,916
15 Yr Pass Thru Ctf 7.000 10-01-2012 AAA 21 21,940
15 Yr Pass Thru Ctf 7.000 04-01-2017 AAA 65 68,298
15 Yr Pass Thru Ctf 4.500 10-01-2019 AAA 1,181 1,155,446
30 Yr Pass Thru Ctf 6.500 07-01-2034 AAA 1,771 1,838,231
30 Yr Pass Thru Ctf 6.500 11-01-2034 AAA 921 956,269
30 Yr Pass Thru Ctf 6.000 12-01-2033 AAA 6,082 6,218,284
30 Yr Pass Thru Ctf 6.000 01-01-2034 AAA 8,681 8,875,921
30 Yr Pass Thru Ctf 6.000 08-01-2034 AAA 3,957 4,045,740
30 Yr Pass Thru Ctf 5.500 04-01-2033 AAA 22 21,711
30 Yr Pass Thru Ctf 5.500 05-01-2034 AAA 1,144 1,146,233
Bond (L) 3.875 02-01-2008 AAA 3,474 3,429,557
CMO REMIC 2003-17-QT 5.000 08-25-2027 AAA 1,595 1,593,155
Note 4.500 04-01-2008 AAA 2,375 2,372,202
Financing Corp.,
Bond 9.400 02-08-2018 AAA 785 1,105,161
Government National Mortgage Assn.,
30 Yr Pass Thru Ctf 10.000 11-15-2020 AAA 10 11,765
30 Yr Pass Thru Ctf 9.500 11-15-2019 AAA 8 8,680
30 Yr Pass Thru Ctf 9.500 01-15-2021 AAA 5 5,107
30 Yr Pass Thru Ctf 9.500 02-15-2025 AAA 13 14,682
Interest Credit Par value
Issuer, description, maturity date rate (%) rating (A) ($000) Value
---------------------------------------------------------------------------------------------------------------------------------
Short-term investments 3.00% $7,580,000
(Cost $7,580,000)
Government U.S. Agency 2.97% 7,500,000
Federal Home Loan Bank,
Disc Note 4-1-05 Zero AAA 7,500 7,500,000
Joint Repurchase Agreement 0.03% 80,000
Investment in a joint repurchase agreement transaction
with Morgan Stanley - Dated 3-31-05 due 4-1-05 (secured
by U.S. Treasury Inflation Indexed Bond 3.875% due
4-15-29) 2.660 80 80,000
Total investments 100.00% $252,578,702
John Hancock
Investors Trust
Financial futures contracts
March 31, 2005 (unaudited)
Number of Appreciation
Open contracts contracts Position Expiration (depreciation)
----------------------------------------------------------------------------------------------------------
U.S. 10-Year Treasury Note 326 Short June 2005 $596,231
U.S. 10-Year Treasury Note 269 Short June 2005 $500,389
$1,096,620
John Hancock
Investors Trust
Footnotes to Schedule of Investments
March 31, 2005 (unaudited)
(A) Credit ratings are unaudited and are rated by Moody's Investors
Service where Standard & Poor's ratings are not available, unless
indicated otherwise.
(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 as of March 31, 2005.
(M) A portion of this security having an aggregate value of $440,550,
or 0.17% of the Fund's total investments, has been purchased as a
forward commitment--that is, the Fund has agreed on trade date to take
delivery of and to make payment for this security on a delayed basis
subsequent to the date of this schedule. The purchase price and
interest rate of this security is fixed at trade date, although the
Fund does not earn any interest on this until settlement date. The
fund has segregated assets with a current value at least equal to the
amount of the forward commitment. Accordingly, the market value of
$460,088 of Federal National Mortgage Assn., 6.000%, 01-01-34 has been
segregated to cover the forward commitment.
(N) These securities having an aggregate value of $5,443,627 or 2.16%
of the Fund's total investments, have been purchased on a when-issued
basis. The purchase price and the interest rate of such securities are
fixed at trade date, although the Fund does not earn any interest on
such securities until settlement date. The Fund has instructed its
custodian bank to segregate assets with a current value at least equal
to the amount of its when-issued commitments. Accordingly, the market
value of $5,674,414 of Federal National Mortgage Assn., 6.000%,
01-01-34 has been segregated to cover the when-issued 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 $34,133,853 or 13.51%
of the Fund's total investments as of March 31, 2005.
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 total investments of the Fund.
The cost of investments owned on March 31, 2005, including short-term
investments, was $251,648,561. Gross unrealized appreciation and
depreciation of investments aggregated $5,245,668 and $4,315,527,
respectively, resulting in net unrealized appreciation of $930,141.
For more information
Trustees
Charles L. Ladner, Chairman*
James F. Carlin
Richard P. Chapman, Jr.*
William H. Cunningham
Ronald R. Dion
Dr. John A. Moore*
Patti McGill Peterson*
Steven R. Pruchansky
James A. Shepherdson
Lt. Gen. Norman H. Smith, USMC (Ret.)
*Members of the Audit Committee
Officers
James A. Shepherdson
President and Chief Executive Officer
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 John Hancock Investors Trust.
P50Q1 3/05
5/05
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: May 25, 2005
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: May 25, 2005
By:
------------------------------
William H. King
Vice President and Treasurer
Date: May 25, 2005