a_investorstrust.htm

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)

601 Congress Street, Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Alfred P. Ouellette, Senior Attorney and Assistant Secretary

601 Congress Street

Boston, Massachusetts 02210

(Name and address of agent for service)

Registrant's telephone number, including area code: 617-663-4324

Date of fiscal year end:  December 31 
 
Date of reporting period:  September 30, 2006 


ITEM 1. SCHEDULE OF INVESTMENTS


John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate (%)  date  rating (A)  ($000)  Value 
Bonds 61.10%          $149,742,172 
(Cost $149,941,500)           
 
Aerospace & Defense 0.08%          194,500 
L-3 Communications Corp.,           
Gtd Sr Sub Note Ser B  6.375  10-15-15  BB+  200  194,500 
 
Agricultural Products 0.19%          473,750 
Cosan SA Industria e Comercio,           
Gtd Sr Perpetual Bond (Brazil) (S)  8.250  02-15-49  BB  500  473,750 
 
Airlines 0.43%          1,059,836 
Continental Airlines, Inc.,           
Pass Thru Ctf Ser 1999-1 Class A  6.545  02-02-19  A-  392  398,642 
Pass Thru Ctf Ser 2000-2 Class B  8.307  10-02-19  BB-  398  386,478 
Pass Thru Ctf Ser 2001-1 Class C  7.033  06-15-11  B+  281  274,716 
 
Broadcasting & Cable TV 1.96%          4,811,750 
Charter Communications Holdings II, LLC/Charter           
Communications Holdings II, Capital Corp.,           
Sr Note  10.250  09-15-10  CCC-  2,000  2,040,000 
Shaw Communications, Inc.,           
Sr Note (Canada)  8.250  04-11-10  BB+  1,000  1,055,000 
Videotron Ltee,           
Gtd Sr Note (Canada)  6.375  12-15-15  B+  300  284,250 
XM Satellite Radio Holdings, Inc.,           
Gtd Sr Note  9.750  05-01-14  CCC  1,500  1,432,500 
 
Casinos & Gaming 4.09%          10,017,974 
Chukchansi Economic Development Auth,           
Sr Note (S)  8.000  11-15-13  BB-  440  451,550 
Isle of Capri Casinos, Inc.,           
Gtd Sr Sub Note (L)  7.000  03-01-14  B  500  475,000 
Jacobs Entertainment, Inc.,           
Sr Note (S)  9.750  06-15-14  B-  1,000  990,000 
Little Traverse Bay Bands of Odawa Indians,           
Sr Note (S)  10.250  02-15-14  B  1,000  997,500 
Majestic Star Casino LLC/Majestic Star Casino           
Capital II LLC,           
Sr Note  9.750  01-15-11  CCC+  1,000  973,750 
Mashantucket West Pequot,           
Bond (S)  5.912  09-01-21  BBB-  275  264,476 
Mohegan Tribal Gaming Authority,           
Sr Sub Note (L)  7.125  08-15-14  B+  1,000  995,000 

Page 1

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

MTR Gaming Group, Inc.,             
Gtd Sr Note Ser B    9.750  04-01-10  B+  800  842,000 
Sr Sub Note (S)    9.000  06-01-12  B-  350  351,750 
Pokagon Gaming Auth,             
Sr Note (S)    10.375  06-15-14  B  500  533,125 
Seneca Gaming Corp.,             
Sr Note    7.250  05-01-12  BB-  1,000  1,000,000 
Trump Entertainment Resorts, Inc.,             
Gtd Sec Note    8.500  06-01-15  B-  1,000  956,250 
Waterford Gaming LLC,             
Sr Note (S)    8.625  09-15-12  BB-  1,123  1,187,573 
 
Commodity Chemicals 0.46%            1,119,241 
Lyondell Chemical Co.,             
Gtd Sec Note    9.500  12-15-08  BB  591  607,991 
Gtd Sr Sub Note    10.875  05-01-09  B  500  511,250 
 
Construction & Farm Machinery & Heavy Trucks  0.20%          492,500 
Manitowoc Co., Inc. (The),             
Gtd Sr Note    7.125  11-01-13  BB-  500  492,500 
 
Consumer Finance 1.05%            2,570,561 
Ford Motor Credit Co.,             
Note    7.375  10-28-09  BBB-  1,925  1,870,723 
HSBC Finance Capital Trust IX,             
Note (5.911% to 11-30-15 then             
variable)    5.911  11-30-35  BBB+  700  699,838 
 
Diversified Banks 1.61%            3,955,067 
Bank of New York,             
Cap Security (S)    7.780  12-01-26  A-  620  645,895 
Barclays Bank Plc,             
Perpetual Bond (6.86% to 6-15-32             
then variable) (United             
Kingdom) (S)    6.860  09-29-49  A+  1,595  1,706,725 
Chuo Mitsui Trust & Banking Co., Ltd.,             
Perpetual Sub Note (5.506% to             
04-15-15 then variable)             
(Japan) (S)    5.506  12-01-49  Baa1  905  867,703 
Royal Bank of Scotland Group Plc,             
Perpetual Bond (7.648% to             
09-30-31 then variable) (United             
Kingdom)    7.648  08-29-49  A  630  734,744 
 
Diversified Chemicals 0.81%            1,994,100 
NOVA Chemicals Corp.,             
Med Term Note (Canada)    7.400  04-01-09  BB+  1,955  1,994,100 
 
Diversified Commercial & Professional Services  0.32%          783,875 
Hutchison Whampoa International Ltd.,             
Gtd Sr Note (Cayman Islands) (S)    6.500  02-13-13  A-  750  783,875 

Page 2

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Diversified Financial Services 0.78%          1,920,312 
Beaver Valley Funding Corp.,           
Sec Lease Obligation Bond  9.000  06-01-17  BBB-  915  1,034,353 
St. George Funding Co.,           
Perpetual Bond (8.485% to           
06-30-17 then variable)           
(Australia) (S)  8.485  12-31-49  Baa1  840  885,959 
 
Diversified Metals & Mining 0.39%          961,150 
Freeport-McMoRan Copper & Gold, Inc.,           
Sr Note  6.875  02-01-14  B+  500  493,750 
Vedanta Resources Plc,           
Sr Note (United Kingdom) (S)  6.625  02-22-10  BB+  480  467,400 
 
Electric Utilities 4.04%          9,904,862 
AES Eastern Energy LP,           
Pass Thru Ctf Ser 1999-A  9.000  01-02-17  BB+  1,182  1,299,774 
BVPS II Funding Corp.,           
Collateralized Lease Bond  8.890  06-01-17  BB+  700  805,735 
CE Generation LLC,           
Sr Sec Note  7.416  12-15-18  BB-  748  769,891 
Empresa Electrica Guacolda SA,           
Sr Sec Note (S)  8.625  04-30-13  BBB-  790  864,762 
FPL Energy National Wind,           
Sr Sec Note (S)  5.608  03-10-24  BBB-  356  348,870 
HQI Transelect Chile SA,           
Sr Note (Chile)  7.875  04-15-11  A-  1,175  1,249,343 
Indiantown Cogeneration LP,           
1st Mtg Note Ser A-9  9.260  12-15-10  BB+  397  413,983 
IPALCO Enterprises, Inc.,           
Sr Sec Note  8.625  11-14-11  BB-  315  337,838 
MSW Energy Holdings II LLC/MSW Energy Finance           
Co., II, Inc.,           
Sr Sec Note Ser B  7.375  09-01-10  BB-  750  750,000 
PNPP II Funding Corp.,           
Deb  9.120  05-30-16  BB+  466  533,836 
System Energy Resources, Inc.,           
Sec Bond (S)  5.129  01-15-14  BBB  409  400,120 
TransAlta Corp.,           
Note (Canada)  5.750  12-15-13  BBB-  1,000  997,981 
TXU Corp.,           
Sec Bond  7.460  01-01-15  BBB  571  590,392 
Waterford 3 Funding Corp.,           
Sec Lease Obligation Bond  8.090  01-02-17  BBB-  525  542,337 
 
Electronic Equipment Manufacturers 0.32%          781,255 
Thomas & Betts Corp.,           
Sr Note  7.250  06-01-13  BBB-  745  781,255 

Page 3

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Gas Utilities 0.48%            1,167,607 
Energy Transfer Partners,           
Gtd Sr Note (G)(L)    5.950  02-01-15  BBB-  1,170  1,167,607 
 
Health Care Facilities 0.77%            1,878,301 
Hanger Orthopedic Group, Inc.,           
Gtd Sr Note (L)    10.250  06-01-14  CCC+  1,000  1,015,000 
Manor Care, Inc.,             
Gtd Note    6.250  05-01-13  BBB  855  863,301 
 
Hotels, Resorts & Cruise Lines 0.98%          2,388,611 
HRP Myrtle Beach Operations LLC/HRP Myrtle           
Beach Operations Capital Corp.,           
Sr Sec Floating Rate Note (P)(S)  9.818  04-01-12  B  1,335  1,331,663 
Hyatt Equities LLC,             
Note (S)    6.875  06-15-07  BBB  1,050  1,056,948 
 
Industrial Conglomerates 0.25%          615,000 
Waste Services, Inc.,             
Gtd Sr Sub Note    9.500  04-15-14  CCC  600  615,000 
 
Industrial Machinery 0.88%            2,165,985 
Kennametal, Inc.,             
Sr Note    7.200  06-15-12  BBB  1,385  1,468,427 
Trinity Industries, Inc.,             
Pass Thru Ctf (S)    7.755  02-15-09  Ba1  690  697,558 
 
Integrated Oil & Gas 0.79%            1,926,071 
Pemex Project Funding Master Trust,           
Gtd Note    9.125  10-13-10  BBB  565  632,517 
Petro-Canada,             
Deb (Canada)    9.250  10-15-21  BBB  1,000  1,293,554 
 
Integrated Telecommunication Services 2.24%          5,499,540 
AT&T Corp.,             
Gtd Sr Note    8.000  11-15-31  A  490  598,905 
BellSouth Corp.,             
Deb    6.300  12-15-15  A  999  1,014,006 
Cincinnati Bell, Inc.,             
Sr Sub Note (L)    8.375  01-15-14  B-  1,000  1,010,000 
Intelsat Subsidiary Holding Co., Ltd.,           
Gtd Sr Floating Rate Note           
(Bermuda) (P)    10.484  01-15-12  B+  450  456,188 
Qwest Capital Funding, Inc.,           
Gtd Note (L)    7.000  08-03-09  B  1,700  1,708,500 
Telefonos de Mexico SA de CV,           
Note (Mexico)    5.500  01-27-15  BBB  735  711,941 
 
Investment Banking & Brokerage 0.32%          794,550 
Mizuho Financial Group Cayman Ltd.,           
Gtd Sub Bond (Cayman Islands)  8.375  12-29-49  A2  750  794,550 

Page 4

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

IT Consulting & Other Services 0.54%          1,331,894 
NCR Corp.,           
Note  7.125  06-15-09  BBB-  375  386,894 
Unisys Corp.,           
Sr Note (L)  6.875  03-15-10  BB+  1,000  945,000 
 
Leisure Facilities 0.73%          1,789,919 
AMC Entertainment, Inc.,           
Sr Sub Note (L)  9.500  02-01-11  CCC+  1,065  1,063,669 
Cinemark USA, Inc.,           
Sr Sub Note (L)  9.000  02-01-13  B-  700  726,250 
 
Life & Health Insurance 0.20%          487,934 
Phoenix Cos., Inc. (The),           
Bond  6.675  02-16-08  BBB  485  487,934 
 
Metal & Glass Containers 1.11%          2,706,750 
BWAY Corp.,           
Gtd Sr Sub Note  10.000  10-15-10  B-  1,085  1,139,250 
Owens-Brockway Glass Container, Inc.,           
Gtd Sr Note  8.250  05-15-13  B  500  512,500 
Gtd Sr Sec Note  8.750  11-15-12  BB-  1,000  1,055,000 
 
Multi-Line Insurance 0.21%          517,214 
Assurant, Inc.,           
Sr Note  6.750  02-15-34  BBB+  490  517,214 
 
Multi-Media 0.48%          1,178,930 
News America Holdings,           
Gtd Sr Deb  7.750  01-20-24  BBB  980  1,083,811 
Quebecor Media, Inc.,           
Sr Note (Canada)  7.750  03-15-16  B  95  95,119 
 
Multi-Utilities 1.12%          2,751,598 
CalEnergy Co., Inc.,           
Sr Bond  8.480  09-15-28  BBB+  525  667,782 
Dynegy-Roseton Danskamme,           
Gtd Pass Thru Ctf Ser B  7.670  11-08-16  B  500  510,000 
Salton Sea Funding Corp.,           
Sec Note Ser C  7.840  05-30-10  BB+  1,535  1,573,816 
 
Oil & Gas Drilling 0.62%          1,509,101 
Delek & Avner-Yam Tethys Ltd.,           
Sr Sec Note (Israel) (S)  5.326  08-01-13  BBB-  333  325,351 
Gazprom,           
Loan Part Note (Germany) (S)  9.625  03-01-13  BB+  1,000  1,183,750 

Page 5

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Oil & Gas Equipment & Services 0.10%          238,750 
Grant Prideco, Inc.,           
Sr Note Ser B  6.125  08-15-15  BB  250  238,750 
 
Oil & Gas Exploration & Production 0.61%          1,499,397 
Pioneer Natural Resources Co.,           
Gtd Sr Note  7.200  01-15-28  BB+  1,000  976,897 
Plains Exploration & Production Co.,           
Sr Note  7.125  06-15-14  BB-  500  522,500 
 
Oil & Gas Refining & Marketing 0.40%          978,509 
Enterprise Products Operations LP,           
Gtd Sr Note Ser B  5.600  10-15-14  BB+  1,000  978,509 
 
Oil & Gas Storage & Transportation 0.37%          899,325 
Atlas Pipeline Partners LP,           
Gtd Sr Note  8.125  12-15-15  B+  140  142,450 
Copano Energy LLC,           
Sr Note  8.125  03-01-16  B  250  253,125 
MarkWest Energy Partners LP/MarkWest Energy           
Finance Corp.,           
Sr Note (S)  8.500  07-15-16  B  500  503,750 
 
Packaged Foods & Meats 0.42%          1,026,600 
ASG Consolidated, LLC           
Sr Disc Note (Zero to 11-1-08,           
then 11.50%) (O)  Zero  11-01-11  B-  1,180  1,026,600 
 
Paper Packaging 1.29%          3,163,520 
MDP Acquisitions Plc,           
Sr Note (Ireland)  9.625  10-01-12  B-  1,250  1,318,750 
Stone Container Corp.,           
Sr Note  9.750  02-01-11  CCC+  859  884,770 
Sr Note  8.375  07-01-12  CCC+  1,000  960,000 
 
Paper Products 0.14%          341,266 
Plum Creek Timber Co., Inc.,           
Gtd Note  5.875  11-15-15  BBB-  345  341,266 
 
Pharmaceuticals 0.69%          1,682,342 
Medco Health Solutions, Inc.,           
Sr Note  7.250  08-15-13  BBB  1,550  1,682,342 
 
Property & Casualty Insurance 0.54%          1,329,220 
Markel Corp.,           
Sr Note  7.350  08-15-34  BBB-  515  532,644 
Ohio Casualty Corp.,           
Note  7.300  06-15-14  BB  750  796,576 

Page 6

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Publishing 0.17%            422,280 
Dex Media West,             
Gtd Sr Sub Note    9.875  08-15-13  B  391  422,280 
 
Real Estate Management & Development 1.25%            3,051,724 
Chelsea Property Group,             
Note    6.000  01-15-13  BBB+  1,040  1,068,297 
Healthcare Realty Trust, Inc.,             
Sr Note    8.125  05-01-11  BBB-  165  179,409 
HRPT Properties Trust,             
Sr Note    5.750  11-01-15  BBB  750  744,837 
Post Apartment Homes,             
Sr Note    5.125  10-12-11  BBB  830  808,556 
Ventas Realty LP/Capital Corp.,             
Sr Note    6.625  10-15-14  BB  250  250,625 
 
Regional Banks 1.51%            3,707,188 
Colonial Capital II,             
Gtd Cap Security Ser A    8.920  01-15-27  BB  1,029  1,082,090 
Crestar Capital Trust I,             
Gtd Cap Security    8.160  12-15-26  A-  880  919,104 
First Chicago NDB Institutional Capital,             
Gtd Cap Bond Ser A (S)    7.950  12-01-26  A1  500  520,501 
NB Capital Trust IV,             
Gtd Cap Security    8.250  04-15-27  A  1,130  1,185,493 
 
Residential Real Estate Investment Trust 0.14%           347,364 
Health Care REIT, Inc.,             
Sr Note    6.200  06-01-16  BBB-  345  347,364 
 
Specialized Finance 1.71%            4,180,562 
Astoria Depositor Corp.,             
Pass Thru Ctf Ser B (G)(S)    8.144  05-01-21  BB  750  822,855 
Bosphorous Financial Services,             
Sec Floating Rate Note (P)(S)    7.205  02-15-12  Baa3  500  496,415 
CCM Merger, Inc.,             
Note (S)    8.000  08-01-13  CCC+  1,000  960,000 
Drummond Co., Inc.,             
Sr Note (L) (S)    7.375  02-15-16  BB-  1,000  940,000 
ESI Tractebel Acquistion Corp.,             
Gtd Sec Bond Ser B    7.990  12-30-11  BB  932  961,292 
 
Steel 0.49%            1,188,000 
Metallurg Holdings, Inc.,             
Sr Sec Note (G)(S)    10.500  10-01-10  B-  1,200  1,188,000 
 
Thrifts & Mortgage Finance 19.68%            48,237,123 
Banc of America Commercial Mortgage, Inc.,             
Mtg Pass Thru Ctf Ser 2005-6             
Class A4 (P)    5.354  09-10-47  AAA  905  899,484 

Page 7

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Mtg Pass Thru Ctf Ser 2006-4           
Class A3A  5.600  07-10-46  AAA  1,200  1,219,453 
Banc of America Funding Corp.,           
Mtg Pass Thru Ctf Ser 2006-B           
Class 6A1 (P)  5.888  03-20-36  AAA  1,086  1,093,431 
Mtg Pass Thru Ctf Ser 2006-D           
Class 6B2 (P)  5.978  05-20-36  AA  1,764  1,760,146 
Bear Stearns Alt-A Trust,           
Mtg Pass Thru Ctf Ser 2005-3           
Class B2 (P)  5.332  04-25-35  AA+  439  434,352 
Mtg Pass Thru Ctf Ser 2006-4           
Class 3B1  6.342  07-25-36  AA  2,469  2,513,710 
Bear Stearns Commercial Mortgage Securities,           
Inc.,           
Mtg Pass Thru Ctf Ser 2005-T20           
Class A4A (P)  5.303  10-12-42  Aaa  440  436,672 
Chaseflex Trust,           
Mtg Pass Thru Ctf Ser 2005-2           
Class 4A1  5.000  05-25-20  AAA  1,096  1,070,231 
Citigroup Mortgage Loan Trust, Inc.,           
Mtg Pass Thru Ctf Ser 2005-5           
Class 2A3  5.000  08-25-35  AAA  652  638,077 
Citigroup/Deutsche Bank Commercial Mortgage           
Securities,           
Mtg Pass Thru Ctf Ser 2005-CD1           
Class A4 (P)  5.400  07-15-44  AAA  595  592,989 
Mtg Pass Thru Ctf Ser 2005-CD1           
Class C (P)  5.400  07-15-44  AA  285  281,972 
ContiMortgage Home Equity Loan Trust,           
Pass Thru Ctf Ser 1995-2 Class A-5  8.100  08-15-25  AAA  118  121,066 
Countrywide Alternative Loan Trust,           
Mtg Pass Thru Ctf Ser 2004-24CB           
Class 1A1  6.000  11-25-34  AAA  732  730,893 
Mtg Pass Thru Ctf Ser 2005-6           
Class 2A1  5.500  04-25-35  Aaa  608  590,226 
Mtg Pass Thru Ctf Ser 2005-J1           
Class 3A1  6.500  08-25-32  AAA  469  473,573 
Mtg Pass Thru Ctf Ser 2006-11CB           
Class 3A1  6.500  05-25-36  Aaa  4,428  4,472,012 
Countrywide Home Loans Servicing LP,           
Mtg Pass Thru Ctf Ser 2005-21           
Class A1  5.500  10-25-35  Aaa  3,969  3,921,970 
DB Master Finance, LLC,           
Mtg Pass Thru Ctf Ser 2006-1           
Class M1 (S)  8.285  06-20-31  BB  1,000  1,021,891 
First Horizon Alternative Mortgage Securities,           
Mtg Pass Thru Ctf Ser 2004-AA5           
Class B1 (P)  5.233  12-25-34  AA  310  306,781 
Mtg Pass Thru Ctf Ser 2006-AA2           
Class B1 (G)(P)  6.237  05-25-36  AA  249  253,088 

Page 8

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Global Signal Trust,           
Sub Bond Ser 2004-2A Class D (S)  5.093  12-15-14  Baa2  385  381,442 
Sub Bond Ser 2006-1 Class E (S)  6.495  02-15-36  Baa3  370  369,499 
GMAC Commercial Mortgage Securities, Inc.,           
Mtg Pass Thru Ctf Ser 2002-C1           
Class A1  5.785  11-15-39  AAA  1,667  1,684,311 
Greenwich Capital Commercial Funding Corp.,           
Mtg Pass Thru Ctf Ser 2005-GG5           
Class A2  5.117  04-10-37  AAA  1,220  1,217,958 
GSR Mortgage Loan Trust,           
Mtg Pass Thru Ctf Ser 2004-9           
Class B1 (G)(P)  4.575  08-25-34  AA  1,193  1,172,784 
Mtg Pass Thru Ctf Ser 2006-4F           
Class 6A1  6.500  05-25-36  AAA  4,757  4,826,220 
Indymac Index Mortgage Loan Trust,           
Mtg Pass Thru Ctf Ser 2004-AR13           
Class B1  5.296  01-25-35  AA  468  465,626 
Mtg Pass Thru Ctf Ser 2005-AR5           
Class B1 (P)  5.394  05-25-35  AA  508  501,858 
JP Morgan Alternative Loan Trust,           
Mtg Pass Thru Ctf Ser 2005-S1           
Class 1A4  6.000  12-25-35  AAA  4,476  4,481,579 
JP Morgan Chase Commercial Mortgage Security           
Corp.,           
Mtg Pass Thru Ctf Ser 2005-LDP4           
Class B  5.129  10-15-42  Aa2  1,965  1,921,487 
Merrill Lynch Mortgage Trust,           
Mtg Pass Thru Ctf Ser 2005-CKI1           
Class A6 (P)  5.417  11-12-37  AAA  820  817,842 
Morgan Stanley Capital I,           
Mtg Pass Thru Ctf Ser 2005-HQ7           
Class A4 (P)  5.375  11-14-42  AAA  810  806,007 
Mtg Pass Thru Ctf Ser 2005-IQ10           
Class A4A  5.230  09-15-42  AAA  1,180  1,169,466 
Nomura Asset Acceptance Corp.,           
Mtg Pass Thru Ctf Ser 2006-AF1           
Class CB1  6.540  06-25-36  AA  1,000  1,025,545 
Provident Funding Mortgage Loan Trust,           
Mtg Pass Thru Ctf Ser 2005-1           
Class B1 (P)  4.362  05-25-35  AA  387  374,906 
SBA CMBS Trust,           
Sub Bond Ser 2005-1A Class D (S)  6.219  11-15-35  Baa2  225  227,966 
Sub Bond Ser 2005-1A Class E (S)  6.706  11-15-35  Baa3  200  204,425 
Sovereign Capital Trust I,           
Gtd Cap Security  9.000  04-01-27  BB  1,000  1,047,844 
Washington Mutual Alternative Loan Trust,           
Mtg Pass Thru Ctf Ser 2005-6           
Class 1CB  6.500  08-25-35  AAA  676  682,736 
Washington Mutual, Inc.,           
Mtg Pass Thru Ctf Ser 2005-AR4           
Class B1 (P)  4.674  04-25-35  AA  1,456  1,379,020 

Page 9

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Wells Fargo Mortgage Backed Securites Trust,           
Mtg Pass Thru Ctf Ser 2004-7           
Class 2A2    5.000  07-25-19  AAA  661  646,585 
 
Utilities Other 0.25%            610,681 
Magellan Midstream Partners LP,           
Note    6.450  06-01-14  BBB  590  610,681 
 
Wireless Telecommunication Service 2.89%          7,088,583 
America Movil SA de CV,           
Sr Note (Mexico)    5.750  01-15-15  BBB  1,225  1,206,446 
Centennial Communications Corp.,           
Sr Note    10.000  01-01-13  CCC  1,000  1,012,500 
Crown Castle Towers LLC,           
Sub Bond Ser 2005-1A Class D  5.612  06-15-35  Baa2  655  653,243 
Dobson Communications Corp.,           
Sr Note (L)    8.875  10-01-13  CCC  1,000  991,250 
Mobile Telesystems Finance SA,           
Gtd Sr Note (Luxembourg) (S)  9.750  01-30-08  BB-  350  363,562 
Nextel Communications, Inc.,           
Sr Note Ser D    7.375  08-01-15  BBB+  1,250  1,289,674 
Rogers Wireless, Inc.,             
Sr Sub Note (Canada)  8.000  12-15-12  B+  500  531,250 
Sprint Capital Corp.,             
Note    6.900  05-01-19  BBB-  1,000  1,040,658 
 
        Credit     
Issuer, description        rating (A)  Shares  Value 
Preferred stocks 1.23%            $3,015,254 
(Cost $3,066,289)             
 
Agricultural Products 0.41%            1,014,454 
Ocean Spray Cranberries, Inc., 6.25%, Ser A (S)      BB+  12,500  1,014,454 
 
Multi-Utilities 0.42%            1,017,200 
Dominion CNG Capital Trust I, 7.80%      BB+  40,000  1,017,200 
 
Real Estate Management & Development 0.40%          983,600 
Public Storage, Inc., 6.50%, Depositary Shares,           
Ser W        BBB+  40,000  983,600 
 
    Interest  Maturity  Credit  Par value   
Issuer, description    rate (%)  date  rating (A)  ($000)  Value 
U.S. government and agencies securities 36.54%          $89,540,379 
(Cost $88,821,385)             
 
Government U.S. 6.43%          15,759,550 
United States Treasury,             
Bond (L)    6.875  08-15-25  AAA  790  987,068 
Bond (L)    6.250  08-15-23  AAA  1,650  1,915,676 

Page 10

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Bond (L)    4.500  02-15-16  AAA  3,055  3,024,331 
Bond (L)    4.500  02-15-36  AAA  5,045  4,834,134 
Bond (L)    5.125  05-15-16  AAA  3,635  3,770,745 
Bond (L)    4.250  11-15-13  AAA  1,255  1,227,596 
 
Government U.S. Agency 30.11%          73,780,829 
Federal Home Loan Mortgage Corp.,           
20 Yr Pass Thru Ctf    11.250  01-01-16  AAA  20  21,243 
30 Yr Pass Thru Ctf    6.000  08-01-34  AAA  3,296  3,313,719 
30 Yr Pass Thru Ctf    6.000  02-01-35  AAA  379  381,645 
Adj Rate Mtg (P)    5.161  11-01-35  AAA  2,099  2,063,627 
CMO REMIC 2978    5.500  01-15-31  AAA  2,590  2,569,702 
CMO REMIC 3184-PD    5.500  07-15-34  AAA  1,000  989,021 
Federal National Mortgage Assn.,             
15 Yr Pass Thru Ctf    7.500  02-01-08  AAA  5  4,744 
15 Yr Pass Thru Ctf    7.000  09-01-10  AAA  22  22,655 
15 Yr Pass Thru Ctf    7.000  10-01-12  AAA  17  17,582 
15 Yr Pass Thru Ctf    7.000  04-01-17  AAA  42  42,682 
15 Yr Pass Thru Ctf    6.000  05-01-21  AAA  4,402  4,469,883 
30 Yr Pass Thru Ctf    6.500  07-01-36  AAA  4,763  4,850,406 
30 Yr Pass Thru Ctf    6.000  05-01-35  AAA  3,695  3,711,680 
30 Yr Pass Thru Ctf    6.000  08-01-35  AAA  2,231  2,241,634 
30 Yr Pass Thru Ctf    6.000  10-01-35  AAA  1,158  1,163,251 
30 Yr Pass Thru Ctf    6.000  04-01-36  AAA  1,994  2,002,987 
30 Yr Pass Thru Ctf    6.000  06-01-36  AAA  7,816  7,852,145 
30 Yr Pass Thru Ctf    6.000  08-01-36  AAA  6,298  6,327,083 
30 Yr Pass Thru Ctf (M)    6.000  09-01-36  AAA  13,980  14,044,477 
30 Yr Pass Thru Ctf    5.500  04-01-35  AAA  596  588,353 
30 Yr Pass Thru Ctf    5.500  11-01-35  AAA  2,038  2,008,369 
30 Yr Pass Thru Ctf    5.500  01-01-36  AAA  2,488  2,452,066 
30 Yr Pass Thru Ctf    5.321  11-01-35  AAA  3,585  3,534,924 
CMO REMIC 2006-99-PD    5.500  01-25-35  AAA  4,913  4,887,126 
CMO REMIC 2006-57-PD    5.500  01-25-35  AAA  1,445  1,417,026 
CMO REMIC 2006-67-PD    5.500  12-25-34  AAA  1,180  1,156,983 
Note    6.000  05-30-25  AAA  1,652  1,619,520 
Government National Mortgage Assn.,           
30 Yr Pass Thru Ctf    10.000  11-15-20  AAA  7  7,461 
30 Yr Pass Thru Ctf    9.500  01-15-21  AAA  4  4,770 
30 Yr Pass Thru Ctf    9.500  02-15-25  AAA  13  14,065 
 
    Interest      Par value   
Issuer, description, maturity date    rate (%)      ($000)  Value 
Short-term investments 1.13%            $2,760,000 
(Cost $2,759,340)             
 
Government U.S. Agency 1.10%            2,700,000 
Federal Home Loan Bank,             
Discount Note    Zero  10-02-06  AAA  2,700  2,700,000 

Page 11

John Hancock
Investors Trust
Securities owned by the Fund on

September 30, 2006 (unaudited)

Joint Repurchase Agreement 0.03%      60,000 
Investment in a joint repurchase agreement       
transaction with Cantor Fitzgerald, LP - Dated       
9-29-06 due 10-2-06 (secured by U.S. Treasury       
Bond 8.125% due 8-15-19, U.S. Treasury       
Inflation Indexed Bond 2.000% due 1-15-26 and       
U.S. Treasury Inflation Indexed Notes 1.875%       
due 7-15-13, 2.000% due 1-15-16 and 3.000% due       
7-15-12)  5.100  60  60,000 
 
Total investments (cost $244,588,514) 100.00%    $245,057,805 

John Hancock
Investors Trust
Footnotes to Schedule of Investments
September 30, 2006 (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.

(G) Security rated internally by John Hancock Advisers, LLC.

(L) All or a portion of this security is on loan as of September 30, 2006.

(M) These securities having an aggregate value of $14,044,477, or 5.73% of the Fund's total investments, have been purchased as a 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 $14,402,506 of Federal National Mortgage Assn., 5.321%, 11-01-35, Federal National Mortgage Assn., 6.000%, 06-01-36, and Federal National Mortgage Assn., 6.000%, 08-01-36 have 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.

(P) Represents rate in effect on September 30, 2006.

(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 $25,831,063 or 10.54% of the Fund's total investments as of September 30, 2006.

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 September 30, 2006, including short-term investments, was $244,588,514. Gross unrealized appreciation and depreciation of investments aggregated $3,230,765 and $2,761,474, respectively, resulting in net unrealized appreciation of $469,291.

Footnotes to Schedule of Investments - Page 1


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: /s/ Keith F. Hartstein
-------------------------------------
Keith F. Hartstein
President and Chief Executive Officer

Date: November 29, 2006

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Keith F. Hartstein
-------------------------------------
Keith F. Hartstein
President and Chief Executive Officer

Date: November 29, 2006

By: /s/ John G. Vrysen
-------------------------------------
John G. Vrysen
Executive Vice President and Chief Financial Officer

Date: November 29, 2006