Fund’s investments

As of 5-31-25 (unaudited)

	Shares	Value
Common stocks 99.4%		$224,459,633
(Cost $175,264,627)
Consumer discretionary 2.4%		5,428,039
Hotels, restaurants and leisure 2.4%
Marriott International, Inc., Class A	20,574	5,428,039
Health care 1.6%		3,620,803
Health care providers and services 1.6%
Brookdale Senior Living, Inc. (A)	556,191	3,620,803
Real estate 95.4%		215,410,791
Diversified REITs 2.8%
Essential Properties Realty Trust, Inc.	197,040	6,403,800
Health care REITs 17.2%
American Healthcare REIT, Inc.	175,523	6,132,774
CareTrust REIT, Inc.	116,514	3,350,943
Ventas, Inc.	111,705	7,180,397
Welltower, Inc.	144,130	22,236,376
Hotel and resort REITs 0.5%
Ryman Hospitality Properties, Inc.	11,170	1,084,719
Industrial REITs 12.4%
EastGroup Properties, Inc.	48,412	8,208,255
Prologis, Inc.	181,622	19,724,149
Office REITs 3.6%
Cousins Properties, Inc.	91,758	2,575,647
SL Green Realty Corp.	96,635	5,485,969
Real estate management and development 0.7%
CBRE Group, Inc., Class A (A)	12,826	1,603,507
Residential REITs 17.2%
American Homes 4 Rent, Class A	143,634	5,436,547
AvalonBay Communities, Inc.	44,572	9,216,152
Essex Property Trust, Inc.	44,331	12,585,571
Independence Realty Trust, Inc.	264,211	4,911,682
Mid-America Apartment Communities, Inc.	32,745	5,129,504
Sun Communities, Inc.	12,944	1,597,807
Retail REITs 14.3%
Agree Realty Corp.	88,026	6,628,358
Curbline Properties Corp.	136,907	3,106,420
Phillips Edison & Company, Inc.	129,038	4,575,687
Regency Centers Corp.	97,391	7,026,761
Simon Property Group, Inc.	35,440	5,779,201
Tanger, Inc.	170,987	5,095,413
Specialized REITs 26.7%
American Tower Corp.	32,574	6,992,009
Digital Realty Trust, Inc.	32,681	5,605,445
EPR Properties	102,228	5,693,077
Equinix, Inc.	25,007	22,226,722
Iron Mountain, Inc.	41,290	4,075,736
Public Storage	40,462	12,478,885
Smartstop Self Storage Reit, Inc.	89,307	3,263,278

JOHN HANCOCK REAL ESTATE SECURITIES FUND | QUARTERLY REPORT

SEE NOTES TO FUND’S INVESTMENTS

Notes to Fund’s investments (unaudited)

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the fund’s valuation designee.

In order to value the securities, the fund uses the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. 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. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day.

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

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted 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, including registered investment companies. 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 Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

As of May 31, 2025, all investments are categorized as Level 1 under the hierarchy described above.

Investment in affiliated underlying funds. The fund may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the fund’s fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the fund, if any, is as follows:

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
John Hancock Collateral Trust	—	—	$2,143,750	$(2,143,813)	$63	—	$907	—	—

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

	Yield (%)	Shares	Value
Short-term investments 0.4%			$956,200
(Cost $956,200)
Short-term funds 0.4%			956,200
State Street Institutional U.S. Government Money Market Fund, Premier Class	4.2490(B)	956,200	956,200

Total investments (Cost $176,220,827) 99.8%					$225,415,833
Other assets and liabilities, net 0.2%					436,136
Total net assets 100.0%					$225,851,969

The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 5-31-25.