John Hancock

Investors Trust

Quarterly portfolio holdings 7/31/15

	As of 7-31-15 (unaudited)
										Rate (%				)		Maturity date			Par value^									Value
	Corporate bonds 131.5% (86.4% of Total investments)																											$208,785,237
	(Cost $214,413,795)
	Consumer discretionary 16.7%																											26,553,150
	Auto components 2.2%
	American Axle & Manufacturing, Inc. (Z)									6.250						03-15-21									1,000,000			1,035,000
	Lear Corp. (Z)									5.250						01-15-25									1,210,000			1,200,925
	The Goodyear Tire & Rubber Company (Z)									7.000						05-15-22									1,200,000			1,306,500
	Automobiles 0.9%
	Fiat Chrysler Automobiles NV									5.250						04-15-23									700,000			704,375
	General Motors Financial Company, Inc. (Z)									3.450						04-10-22									750,000			723,452
	Hotels, restaurants and leisure 1.8%
	Boyd Gaming Corp.									6.875						05-15-23									915,000			947,025
	International Game Technology PLC (S)(Z)									6.500						02-15-25									1,335,000			1,279,931
	Mohegan Tribal Gaming Authority									9.750						09-01-21									540,000			569,007
	Waterford Gaming LLC (S)									8.625						09-15-49									377,791			0
	Household durables 2.0%
	Argos Merger Sub, Inc. (S)(Z)									7.125						03-15-23									1,285,000			1,358,888
	Meritage Homes Corp. (S)									6.000						06-01-25									420,000			424,200
	William Lyon Homes, Inc. (Z)									5.750						04-15-19									1,300,000			1,313,000
	Internet and catalog retail 0.6%
	QVC, Inc. (Z)									5.950						03-15-43									1,000,000			969,740
	Media 7.7%
	AMC Entertainment, Inc. (Z)									5.875						02-15-22									960,000			981,600
	Cablevision Systems Corp. (Z)									7.750						04-15-18									450,000			486,563
	CCO Holdings LLC (Z)									5.125						02-15-23									1,350,000			1,338,188
	Cinemark USA, Inc. (Z)									7.375						06-15-21									365,000			386,900
	DIRECTV Holdings LLC (Z)									4.450						04-01-24									355,000			365,417
	DISH DBS Corp. (Z)									6.750						06-01-21									425,000			449,438
	Grupo Televisa SAB									8.490						05-11-37								MXN	11,700,000			735,380
	Myriad International Holdings BV (S)									5.500						07-21-25									715,000			725,725
	Myriad International Holdings BV (S)(Z)									6.000						07-18-20									440,000			476,090
	Numericable-SFR SAS (S)(Z)									6.250						05-15-24									200,000			203,390
	Outfront Media Capital LLC (Z)									5.250						02-15-22									900,000			904,500
	Outfront Media Capital LLC (Z)									5.625						02-15-24									900,000			918,000
	Radio One, Inc. (S)(Z)									7.375						04-15-22									945,000			923,738
	Sinclair Television Group, Inc. (Z)									6.375						11-01-21									830,000			865,275
	Sirius XM Radio, Inc. (S)(Z)									6.000						07-15-24									1,145,000			1,193,663
	Time Warner Cable, Inc. (Z)									8.250						04-01-19									375,000			441,065
	WMG Acquisition Corp. (S)(Z)									6.000						01-15-21									868,000			889,700
	Multiline retail 0.4%
	Dollar Tree, Inc. (S)(Z)									5.750						03-01-23									610,000			643,550
	Specialty retail 1.1%
	Jo-Ann Stores Holdings, Inc., PIK (S)									9.750						10-15-19									500,000			428,750
	L Brands, Inc. (Z)									6.950						03-01-33									1,290,000			1,364,175
	Consumer staples 6.1%																											9,697,989
	Beverages 1.4%
	Corporacion Lindley SA (S)(Z)									4.625						04-12-23									1,000,000			971,250
	Cott Beverages, Inc.									5.375						07-01-22									500,000			488,750
	SABMiller Holdings, Inc. (S)(Z)									3.750						01-15-22									750,000			776,168
	Food and staples retailing 1.3%
	Aramark Services, Inc. (Z)									5.750						03-15-20									170,000			177,650

										Rate (%				)		Maturity date			Par value^									Value
	Consumer staples  (continued)
	Food and staples retailing  (continued)
	Office Depot de Mexico SA de CV (S)(Z)									6.875						09-20-20									610,000			$638,670
	Tops Holding LLC (S)(Z)									8.000						06-15-22									1,305,000			1,295,213
	Food products 1.7%
	Kraft Heinz Foods Company (S)									4.875						02-15-25									675,000			723,094
	Marfrig Holding Europe BV (S)(Z)									8.375						05-09-18									600,000			594,000
	Post Holdings, Inc. (Z)									7.375						02-15-22									1,320,000			1,348,288
	Household products 0.8%
	Reynolds Group Issuer, Inc. (Z)									5.750						10-15-20									1,205,000			1,247,175
	Personal products 0.4%
	Revlon Consumer Products Corp.									5.750						02-15-21									600,000			603,000
	Tobacco 0.5%
	Reynolds American, Inc. (S)									6.875						05-01-20									720,000			834,731
	Energy 14.9%																											23,580,967
	Energy equipment and services 2.1%
	Chaparral Energy, Inc. (Z)									7.625						11-15-22									785,000			459,225
	EDC Finance, Ltd. (S)(Z)									4.875						04-17-20									1,000,000			890,000
	Nostrum Oil & Gas Finance BV (S)(Z)									6.375						02-14-19									1,000,000			877,500
	Permian Holdings, Inc. (S)(Z)									10.500						01-15-18									700,000			413,000
	TerraForm Power Operating LLC (S)(Z)									5.875						02-01-23									650,000			656,097
	Independent power and renewable electricity producers 0.4%
	NRG Yield Operating LLC									5.375						08-15-24									660,000			668,250
	Oil, gas and consumable fuels 12.4%
	American Energy-Permian Basin LLC (S)									7.125						11-01-20									500,000			302,500
	Antero Resources Corp.									5.125						12-01-22									552,000			521,640
	Chesapeake Energy Corp. (Z)									5.750						03-15-23									835,000			705,575
	Clayton Williams Energy, Inc. (Z)									7.750						04-01-19									625,000			554,688
	CNOOC Finance 2012, Ltd. (S)(Z)									5.000						05-02-42									1,000,000			1,075,647
	Continental Resources, Inc. (Z)									4.500						04-15-23									500,000			464,772
	Energy XXI Gulf Coast, Inc. (S)(Z)									11.000						03-15-20									870,000			649,781
	Freeport-McMoran Oil & Gas LLC (Z)									6.875						02-15-23									1,050,000			1,029,000
	Global Partners LP (Z)									6.250						07-15-22									1,225,000			1,148,438
	KazMunayGas National Company (S)									4.875						05-07-25									1,435,000			1,292,935
	Linn Energy LLC (Z)									6.500						09-15-21									1,640,000			943,000
	Lukoil International Finance BV (S)(Z)									4.563						04-24-23									1,000,000			891,958
	Oasis Petroleum, Inc.									6.875						03-15-22									500,000			460,000
	Pacific Rubiales Energy Corp. (S)									5.125						03-28-23									705,000			445,913
	Pan American Energy LLC (S)(Z)									7.875						05-07-21									1,100,000			1,139,875
	Petrobras Global Finance BV (Z)									6.850						06-05-15									1,535,000			1,240,556
	Petroleos Mexicanos									5.500						01-21-21									755,000			817,129
	Rex Energy Corp.									6.250						08-01-22									630,000			441,000
	SandRidge Energy, Inc. (S)									8.750						06-01-20									575,000			445,625
	SM Energy Company									5.625						06-01-25									810,000			765,450
	Tullow Oil PLC (S)(Z)									6.000						11-01-20									1,750,000			1,435,000
	Whiting Petroleum Corp.									6.250						04-01-23									770,000			750,750
	Williams Partners LP (Z)									4.875						03-15-24									1,595,000			1,568,300
	WPX Energy, Inc.									5.250						09-15-24									615,000			527,363
	Financials 29.9%																											47,539,989
	Banks 10.1%
	Banco Bradesco SA (S)(Z)									5.750						03-01-22									500,000			511,875
	Banco BTG Pactual SA (S)									5.750						09-28-22									960,000			859,200

										Rate (%				)		Maturity date			Par value^									Value
	Financials  (continued)
	Banks  (continued)
	Banco Regional S.A.E.C.A. (S)(Z)									8.125						01-24-19									400,000			$423,500
	Barclays Bank PLC (S)(Z)									10.179						06-12-21									195,000			257,585
	CIT Group, Inc. (S)(Z)									5.500						02-15-19									1,290,000			1,364,175
	CorpGroup Banking SA (S)(Z)									6.750						03-15-23									1,000,000			1,003,565
	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									1,100,000			1,141,273
	GTB Finance B.V. (S)(Z)									7.500						05-19-16									285,000			288,563
	ING Groep NV (6.500% to 4-16-25, then 5 Year U.S. Swap Rate + 4.446%) (Q)									6.500						04-16-25									700,000			686,875
	JPMorgan Chase & Co. (Z)									3.450						03-01-16									2,000,000			2,029,656
	JPMorgan Chase & Co. (6.750% to 2-1-24, then 3 month LIBOR + 3.780%) (Q)(Z)									6.750						02-01-24									2,300,000			2,436,563
	National City Bank of Indiana (Z)									4.250						07-01-18									2,000,000			2,125,802
	Sberbank of Russia (S)(Z)									6.125						02-07-22									1,000,000			979,570
	Wells Fargo & Company (5.900% to 6-15-24, then 3 month LIBOR + 3.110%) (Q)(Z)									5.900						06-15-24									1,860,000			1,870,602
	Capital markets 4.6%
	Morgan Stanley (Z)									3.800						04-29-16									1,000,000			1,021,497
	Morgan Stanley (Z)									5.750						01-25-21									1,000,000			1,136,615
	Morgan Stanley (5.450% to 7-15-19, then 3 month LIBOR + 3.610%) (Q)(Z)									5.450						07-15-19									505,000			501,970
	Morgan Stanley (5.550% to 7-15-20, then 3 month LIBOR + 3.810%) (Q)									5.550						07-15-20									660,000			656,700
	The Goldman Sachs Group, Inc.									3.750						05-22-25									150,000			149,548
	The Goldman Sachs Group, Inc. (Z)									5.250						07-27-21									890,000			990,660
	The Goldman Sachs Group, Inc. (Z)									6.250						09-01-17									1,000,000			1,092,628
	The Goldman Sachs Group, Inc. (5.375% to 5-10-20, then 3 month LIBOR + 3.922%) (Q)									5.375						05-10-20									1,000,000			994,000
	Walter Investment Management Corp. (Z)									7.875						12-15-21									875,000			820,313
	Consumer finance 2.9%
	American Express Company (4.900% to 3-15-20, then 3 month LIBOR + 3.285%) (Q)(Z)									4.900						03-15-20									1,895,000			1,854,258
	Credit Acceptance Corp. (Z)									6.125						02-15-21									815,000			819,075
	Enova International, Inc.									9.750						06-01-21									665,000			618,450
	Springleaf Finance Corp. (Z)									6.900						12-15-17									750,000			798,750
	Springleaf Finance Corp.									8.250						10-01-23									500,000			562,500
	Diversified financial services 5.4%
	Aercap Ireland Capital, Ltd.									4.500						05-15-21									1,550,000			1,573,250
	Algeco Scotsman Global Finance PLC (S)									10.750						10-15-19									920,000			636,749
	Citigroup, Inc. (5.875% to 3-27-20, then 3 month LIBOR + 4.059%) (Q)									5.875						03-27-20									545,000			548,406
	Corporacion Andina de Fomento (Z)									3.750						01-15-16									690,000			696,926
	GrupoSura Finance (S)(Z)									5.700						05-18-21									440,000			473,880
	ING Groep NV (6.000% to 4-16-20, then 5 Year U.S. Swap Rate + 4.445%) (Q)									6.000						04-16-20									1,660,000			1,665,188
	Leucadia National Corp. (Z)									5.500						10-18-23									1,600,000			1,653,528
	Nationstar Mortgage LLC (Z)									7.875						10-01-20									505,000			497,425
	Nielsen Finance LLC (S)(Z)									5.000						04-15-22									800,000			789,000
	Insurance 2.6%
	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			1,042,894
	CNA Financial Corp. (Z)									7.350						11-15-19									655,000			774,880
	MetLife, Inc. (Z)									6.817						08-15-18									1,000,000			1,147,013
	Sirius International Group, Ltd. (7.506% to 6-30-17, then 3 month LIBOR + 3.200%) (Q)(S)									7.506						06-30-17									600,000			613,500
	Symetra Financial Corp. (8.300% to 10-15-17, then 3 month LIBOR + 4.177%) (S)(Z)									8.300						10-15-37									520,000			530,400
	Real estate investment trusts 3.3%
	Crown Castle International Corp.									4.875						04-15-22									1,000,000			1,026,195
	Crown Castle Towers LLC (S)(Z)									4.883						08-15-20									750,000			806,153
	DuPont Fabros Technology LP									5.875						09-15-21									835,000			857,963

										Rate (%				)		Maturity date			Par value^									Value
	Financials  (continued)
	Real estate investment trusts  (continued)
	Trust F/1401 (S)									5.250						12-15-24									2,475,000			$2,591,820
	Real estate management and development 0.1%
	General Shopping Investments, Ltd. (12.000% to 3-20-17, then 5 Year USGG + 11.052%) (Q)(S)									12.000						03-20-17									500,000			178,750
	Thrifts and mortgage finance 0.9%
	Quicken Loans, Inc. (S)									5.750						05-01-25									535,000			517,613
	Stearns Holdings, Inc. (S)									9.375						08-15-20									925,000			922,688
	Health care 10.0%																											15,847,370
	Health care providers and services 6.3%
	Community Health Systems, Inc. (Z)									5.125						08-01-21									200,000			207,500
	Community Health Systems, Inc. (Z)									6.875						02-01-22									900,000			963,000
	Covenant Surgical Partners, Inc. (S)(Z)									8.750						08-01-19									250,000			250,000
	DaVita HealthCare Partners, Inc. (Z)									5.000						05-01-25									1,085,000			1,072,794
	DaVita HealthCare Partners, Inc. (Z)									5.125						07-15-24									1,395,000			1,405,762
	HCA, Inc. (Z)									5.250						04-15-25									1,000,000			1,052,500
	HCA, Inc. (Z)									5.375						02-01-25									2,400,000			2,454,480
	HCA, Inc. (Z)									7.500						02-15-22									130,000			151,450
	Select Medical Corp. (Z)									6.375						06-01-21									1,255,000			1,270,688
	Tenet Healthcare Corp. (Z)									6.000						10-01-20									1,005,000			1,092,938
	Pharmaceuticals 3.7%
	Endo Finance LLC (S)(Z)									6.000						02-01-25									490,000			505,925
	Endo Finance LLC (S)(Z)									7.750						01-15-22									1,345,000			1,434,106
	Mallinckrodt International Finance SA (S)(Z)									4.875						04-15-20									500,000			514,575
	Mallinckrodt International Finance SA (S)(Z)									5.500						04-15-25									300,000			301,875
	Mallinckrodt International Finance SA (S)(Z)									5.750						08-01-22									710,000			742,394
	Valeant Pharmaceuticals International, Inc. (S)(Z)									5.500						03-01-23									250,000			255,625
	Valeant Pharmaceuticals International, Inc. (S)(Z)									5.625						12-01-21									990,000			1,015,988
	Valeant Pharmaceuticals International, Inc. (S)(Z)									6.125						04-15-25									1,106,000			1,155,770
	Industrials 18.1%																											28,670,902
	Aerospace and defense 3.5%
	Huntington Ingalls Industries, Inc. (S)(Z)									5.000						12-15-21									1,240,000			1,274,100
	LMI Aerospace, Inc. (Z)									7.375						07-15-19									1,910,000			1,847,925
	Textron Financial Corp. (6.000% to 2-15-17, then 3 month LIBOR + 1.735%) (S)(Z)									6.000						02-15-67									1,745,000			1,413,450
	TransDigm, Inc. (Z)									6.500						07-15-24									1,000,000			1,005,000
	Air freight and logistics 0.8%
	XPO Logistics, Inc. (S)(Z)									6.500						06-15-22									1,250,000			1,229,688
	Airlines 3.5%
	Air Canada (S)(Z)									8.750						04-01-20									1,145,000			1,265,225
	Air Canada 2013-1 Class C Pass Through Trust (S)(Z)									6.625						05-15-18									1,000,000			1,041,250
	American Airlines 2013-2 Class B Pass Through Trust (S)(Z)									5.600						07-15-20									419,142			430,669
	Continental Airlines 1999-1 Class A Pass Through Trust (Z)									6.545						02-02-19									156,160			170,105
	Continental Airlines 2000-2 Class B Pass Through Trust (Z)									8.307						04-02-18									51,849			55,220
	Delta Air Lines 2007-1 Class A Pass Through Trust (Z)									6.821						08-10-22									562,765			645,773
	TAM Capital 3, Inc. (S)(Z)									8.375						06-03-21									505,000			519,519
	TAM Capital, Inc. (Z)									7.375						04-25-17									1,000,000			1,025,700
	UAL 2009-1 Pass Through Trust (Z)									10.400						11-01-16									88,988			96,267
	UAL 2009-2A Pass Through Trust (Z)									9.750						01-15-17									281,974			307,352
	Building products 0.9%
	Associated Materials LLC (Z)									9.125						11-01-17									740,000			630,850
	Masco Corp. (Z)									4.450						04-01-25									750,000			751,875

										Rate (%				)		Maturity date			Par value^									Value
	Industrials  (continued)
	Construction and engineering 0.5%
	Tronox Finance LLC (S)(Z)									7.500						03-15-22									925,000			$772,375
	Electrical equipment 0.8%
	EnerSys (S)(Z)									5.000						04-30-23									1,260,000			1,231,650
	Industrial conglomerates 1.5%
	Nemak SAB de CV (S)									5.500						02-28-23									1,350,000			1,383,750
	Odebrecht Finance, Ltd. (S)(Z)									8.250						04-25-18								BRL	2,250,000			453,424
	Odebrecht Offshore Drilling Finance, Ltd. (S)(Z)									6.750						10-01-22									919,100			592,820
	Machinery 0.3%
	Trinity Industries, Inc. (Z)									4.550						10-01-24									490,000			479,836
	Marine 0.7%
	Global Ship Lease, Inc. (S)(Z)									10.000						04-01-19									350,000			364,000
	Navios Maritime Holdings, Inc. (S)(Z)									7.375						01-15-22									870,000			741,675
	Oil, gas and consumable fuels 0.6%
	Teekay Offshore Partners LP									6.000						07-30-19									1,085,000			933,100
	Professional services 0.7%
	CEB, Inc. (S)									5.625						06-15-23									1,100,000			1,102,750
	Road and rail 1.2%
	OPE KAG Finance Sub, Inc. (S)									7.875						07-31-23									900,000			913,500
	The Hertz Corp. (Z)									6.250						10-15-22									1,000,000			1,017,500
	Trading companies and distributors 2.7%
	Ahern Rentals, Inc. (S)(Z)									7.375						05-15-23									925,000			874,125
	Aircastle, Ltd. (Z)									5.125						03-15-21									1,420,000			1,462,600
	United Rentals North America, Inc.									5.500						07-15-25									1,075,000			1,027,969
	Univar, Inc. (S)									6.750						07-15-23									980,000			984,900
	Transportation infrastructure 0.4%
	CHC Helicopter SA (Z)									9.250						10-15-20									976,500			624,960
	Information technology 2.9%																											4,531,937
	Internet software and services 0.6%
	Ancestry.com Holdings LLC, PIK (S)									9.625						10-15-18									220,000			225,775
	IAC (Z)									4.875						11-30-18									615,000			635,449
	IT services 1.0%
	Sixsigma Networks Mexico SA de CV (S)(Z)									8.250						11-07-21									1,500,000			1,546,500
	Semiconductors and semiconductor equipment 0.6%
	Micron Technology, Inc. (S)									5.500						02-01-25									1,000,000			968,750
	Software 0.4%
	First Data Corp.									11.750						08-15-21									545,000			618,575
	Technology hardware, storage and peripherals 0.3%
	Denali Borrower LLC (S)(Z)									5.625						10-15-20									515,000			536,888
	Materials 12.3%																											19,552,385
	Building materials 0.8%
	Building Materials Corp. of America (S)(Z)									5.375						11-15-24									1,220,000			1,222,928
	Chemicals 4.1%
	Ashland, Inc. (Z)									6.875						05-15-43									1,000,000			1,027,500
	Braskem Finance, Ltd. (Z)									6.450						02-03-24									1,295,000			1,177,155
	Platform Specialty Products Corp. (S)(Z)									6.500						02-01-22									1,210,000			1,252,350
	Rentech Nitrogen Partners LP (S)(Z)									6.500						04-15-21									430,000			420,325
	Rockwood Specialties Group, Inc. (Z)									4.625						10-15-20									1,525,000			1,585,954
	The Chemours Company (S)									6.625						05-15-23									1,170,000			1,029,600

										Rate (%				)		Maturity date			Par value^									Value
	Materials  (continued)
	Construction materials 1.7%
	Cementos Progreso Trust (S)(Z)									7.125						11-06-23									1,195,000			$1,276,254
	Cemex SAB de CV (S)									6.125						05-05-25									625,000			622,656
	Norbord, Inc. (S)									6.250						04-15-23									735,000			746,025
	Vulcan Materials Company (Z)									7.500						06-15-21									120,000			138,600
	Containers and packaging 1.7%
	Ardagh Finance Holdings SA, PIK (S)									8.625						06-15-19									587,983			614,442
	Ball Corp.									5.000						03-15-22									500,000			512,218
	Ball Corp.									5.250						07-01-25									900,000			904,995
	Graphic Packaging International, Inc. (Z)									4.875						11-15-22									650,000			651,625
	Metals and mining 3.6%
	AngloGold Ashanti Holdings PLC (Z)									8.500						07-30-20									1,175,000			1,201,846
	BlueScope Steel, Ltd. (S)(Z)									7.125						05-01-18									500,000			498,750
	FMG Resources August 2006 Pty, Ltd. (S)(Z)									6.875						04-01-22									1,035,000			597,713
	MMC Norilsk Nickel OJSC (S)(Z)									5.550						10-28-20									750,000			749,438
	Rain CII Carbon LLC (S)(Z)									8.000						12-01-18									360,000			351,900
	Rio Tinto Finance USA, Ltd. (Z)									7.125						07-15-28									710,000			885,183
	Severstal OAO (S)									4.450						03-19-18									1,000,000			985,240
	Thompson Creek Metals Company, Inc. (Z)									7.375						06-01-18									625,000			454,688
	Paper and forest products 0.4%
	Sappi Papier Holding GmbH (S)(Z)									7.750						07-15-17									600,000			645,000
	Telecommunication services 14.7%																											23,391,182
	Diversified telecommunication services 7.0%
	CenturyLink, Inc.									6.750						12-01-23									800,000			802,000
	Frontier Communications Corp. (Z)									7.125						03-15-19									530,000			541,925
	GCI, Inc.									6.875						04-15-25									655,000			666,463
	Inmarsat Finance PLC (S)(Z)									4.875						05-15-22									1,275,000			1,252,688
	Intelsat Luxembourg SA									8.125						06-01-23									725,000			576,375
	Level 3 Financing, Inc. (S)(Z)									5.625						02-01-23									880,000			893,200
	T-Mobile USA, Inc. (Z)									6.125						01-15-22									250,000			261,250
	T-Mobile USA, Inc. (Z)									6.250						04-01-21									800,000			838,000
	T-Mobile USA, Inc. (Z)									6.375						03-01-25									1,200,000			1,258,500
	T-Mobile USA, Inc. (Z)									6.625						04-01-23									245,000			260,925
	T-Mobile USA, Inc. (Z)									6.731						04-28-22									805,000			853,300
	Telecom Italia Capital SA									6.000						09-30-34									720,000			712,800
	Wind Acquisition Finance SA (S)									7.375						04-23-21									1,000,000			1,060,000
	Windstream Corp. (Z)									7.500						06-01-22									1,375,000			1,147,494
	Wireless telecommunication services 7.7%
	America Movil SAB de CV									6.000						06-09-19								MXN	8,670,000			540,029
	Bharti Airtel International Netherlands BV (S)									5.125						03-11-23									600,000			640,662
	Colombia Telecomunicaciones SA ESP (S)(Z)									5.375						09-27-22									1,000,000			995,500
	Digicel, Ltd. (S)									6.000						04-15-21									1,405,000			1,324,213
	SBA Communications Corp.									4.875						07-15-22									1,135,000			1,117,975
	SBA Tower Trust (S)(Z)									2.933						12-15-17									1,380,000			1,396,553
	SBA Tower Trust (S)(Z)									5.101						04-17-17									580,000			599,555
	Sprint Communications, Inc. (Z)									6.000						11-15-22									2,200,000			1,932,700
	Sprint Corp. (Z)									7.250						09-15-21									700,000			669,375
	Telefonica Celular del Paraguay SA (S)									6.750						12-13-22									1,000,000			1,034,700
	VimpelCom Holdings BV (S)									7.504						03-01-22									2,000,000			2,015,000

										Rate (%				)		Maturity date			Par value^									Value
	Utilities 5.9%																											$9,419,366
	Electric utilities 3.9%
	Beaver Valley II Funding Corp. (Z)									9.000						06-01-17									34,000			36,720
	BVPS II Funding Corp. (Z)									8.890						06-01-17									125,000			130,024
	Empresa Electrica Angamos SA (S)(Z)									4.875						05-25-29									1,000,000			985,000
	FPL Energy National Wind LLC (S)(Z)									5.608						03-10-24									66,569			66,569
	Israel Electric Corp., Ltd. (S)									5.000						11-12-24									2,000,000			2,068,836
	Israel Electric Corp., Ltd. (S)(Z)									6.700						02-10-17									1,000,000			1,065,500
	Perusahaan Listrik Negara PT (S)									5.500						11-22-21									1,500,000			1,584,450
	PNPP II Funding Corp.									9.120						05-30-16									30,000			30,670
	W3A Funding Corp. (Z)									8.090						01-02-17									184,495			184,444
	Independent power and renewable electricity producers 1.3%
	Dynegy, Inc. (S)(Z)									7.375						11-01-22									690,000			713,805
	Dynegy, Inc. (S)(Z)									7.625						11-01-24									865,000			893,113
	Terraform Power Operating LLC (S)									6.125						06-15-25									445,000			446,113
	Multi-utilities 0.7%
	Dominion Resources, Inc. (Z)									2.500						12-01-19									1,210,000			1,214,122
	Convertible bonds 1.8% (1.2% of Total investments)																											$2,851,528
	(Cost $2,916,162)
	Industrials 1.3%																											2,113,453
	Machinery 1.3%
	Trinity Industries, Inc.									3.875						06-01-36									1,575,000			2,113,453
	Utilities 0.5%																											738,075
	Independent power and renewable electricity producers 0.5%
	NRG Yield, Inc. (S)(Z)									3.250						06-01-20									780,000			738,075
	Term loans (M) 0.0% (0.0% of Total investments)																											$0
	(Cost $248,529)
	Industrials 0.0%																											0
	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
	Capital preferred securities (a) 0.6% (0.4% of Total investments)																											$1,025,550
	(Cost $1,030,730)
	Financials 0.6%																											1,025,550
	Banks 0.6%
	HSBC Finance Capital Trust IX (5.911% to 11-30-15, then 3 month LIBOR + 1.926%) (Z)									5.911						11-30-35			700,000									701,050
	Mellon Capital IV (Z)									4.000						06-29-49			400,000									324,500
	U.S. Government and Agency obligations 9.0% (5.9% of Total investments)																											$14,336,128
	(Cost $14,007,440)
	U.S. Government Agency 9.0%																											14,336,128
	Federal National Mortgage Association
				15 Yr Pass Thru (Z)						4.000						12-01-24			1,260,515									1,349,117
				30 Yr Pass Thru						4.000						12-01-40			2,938,892									3,171,707
				30 Yr Pass Thru (Z)						4.000						09-01-41			3,040,338									3,258,387
				30 Yr Pass Thru (Z)						4.000						10-01-41			1,608,767									1,730,178
				30 Yr Pass Thru (Z)						4.000						01-01-42			791,634									850,635
				30 Yr Pass Thru (Z)						4.500						10-01-40			2,252,381									2,460,138
				30 Yr Pass Thru (Z)						5.000						04-01-41			510,206									574,818
				30 Yr Pass Thru (Z)						5.500						08-01-40			168,225									189,406
				30 Yr Pass Thru (Z)						6.500						01-01-39			652,786									751,742

										Rate (%				)		Maturity date			Par value^									Value
	Foreign government obligations 1.6% (1.0% of Total investments)																											$2,467,989
	(Cost $2,485,930)
	Mexico 1.6%																											2,467,989
	Government of Mexico
				Bond						3.600						01-30-25									1,250,000			1,240,625
				Bond						10.000						12-05-24								MXN	15,430,000			1,227,364
	Collateralized mortgage obligations 3.0% (2.0% of Total investments)																											$4,845,633
	(Cost $3,019,502)
	Commercial and residential 2.3%																											3,642,549
	American Home Mortgage Assets Trust Series 2006-6, Class XP IO									2.174						12-25-46									4,255,977			441,587
	Bear Stearns Adjustable Rate Mortgage Trust Series 2005-2, Class A1 (P)									2.680						03-25-35									314,466			317,149
	Bear Stearns Asset Backed Securities Trust Series 2004-AC5, Class A1									5.750						10-25-34									268,674			273,633
	Deutsche Mortgage Securities, Inc. Mortgage Loan Trust Series 2004-4, Class 2AR1 (P)									0.461						06-25-34									409,164			387,311
	Extended Stay America Trust Series 2013-ESFL, Class DFL (P) (S)									3.327						12-05-31									82,764			82,764
	HarborView Mortgage Loan Trust
				Series 2005-8, Class 1X IO						2.062						09-19-35									2,398,163			140,213
				Series 2007-3, Class ES IO (S)						0.350						05-19-47									5,500,826			93,514
				Series 2007-4, Class ES IO						0.350						07-19-47									5,720,360			90,382
				Series 2007-6, Class ES IO (S)						0.342						08-19-37									4,454,728			60,584
	Hilton USA Trust Series 2013-HLF, Class EFL (P) (S)									3.938						11-05-30									827,791			827,256
	IndyMac Index Mortgage Loan Trust
				Series 2005-AR18, Class 1X IO						2.127						10-25-36									7,328,514			668,441
				Series 2005-AR18, Class 2X IO						1.804						10-25-36									6,350,240			259,715
	U.S. Government Agency 0.7%																											1,203,084
	Federal Home Loan Mortgage Corp.
				Series 290, Class IO						3.500						11-15-32									2,876,705			531,886
				Series K017, Class X1 IO						1.424						12-25-21									2,792,399			202,932
				Series K709, Class X1 IO						1.532						03-25-19									3,174,297			152,201
				Series K710, Class X1 IO						1.775						05-25-19									3,271,437			186,374
	Government National Mortgage Association Series 2012-114, Class IO									0.927						01-16-53									1,728,497			129,691
	Asset backed securities 0.9% (0.6% of Total investments)																											$1,407,697
	(Cost $1,387,371)
	ContiMortgage Home Equity Loan Trust Series 1995-2, Class A5									8.100						08-15-25									24,965			23,772
	Driven Brands Funding LLC Series 2015-1A, Class A2 (S)									5.216						07-20-45									780,000			783,050
	Sonic Capital LLC Series 2011-1A, Class A2 (S)									5.438						05-20-41									393,552			413,058
	Westgate Resorts LLC Series 2012-2A, Class B (S)									4.500						01-20-25									187,386			187,817
																						Shares						Value
	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

																						Shares						Value
	Industrials 0.0%																											$0
	Airlines 0.0%
	Global Aviation Holdings, Inc., Class A (I)																					82,159						0
																						Shares						Value
	Preferred securities (b) 2.2% (1.4% of Total investments)																											$3,449,841
	(Cost $3,456,208)
	Consumer staples 0.4%																											656,841
	Food products 0.4%
	Tyson Foods, Inc., 4.750% (Z)																					12,175						656,841
	Financials 1.1%																											1,755,606
	Consumer finance 0.7%
	Ally Financial, Inc., 7.000% (S)(Z)																					1,109						1,126,086
	Diversified financial services 0.4%
	GMAC Capital Trust I (8.125% to 2-15-16, then 3 month LIBOR + 5.785%)																					24,000						629,520
	Utilities 0.7%																											1,037,394
	Electric utilities 0.7%
	Exelon Corp., 6.500% (Z)																					22,195						1,037,394
																						Par value						Value
	Short-term investments 1.6% (1.1% of Total investments)																											$2,557,000
	(Cost $2,557,000)
	Repurchase agreement 1.6%																											2,557,000
	Repurchase Agreement with State Street Corp. dated 7-31-15 at 0.000% to be repurchased at $2,557,000 on 8-3-15, collateralized by $2,635,000 U.S. Treasury Notes, 0.625% due 4-30-18 (valued at $2,612,076, including interest)																					2,557,000						2,557,000
	Total investments (Cost $246,116,333)† 152.2%																											$241,726,603
	Other assets and liabilities, net (52.2%)																											($82,901,528	)
	Total net assets 100.0%																											$158,825,075

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

IO

Interest Only Security — (Interest Tranche of Stripped Mortgage Pool). Rate shown is the effective yield at period end.

LIBOR

London Interbank Offered Rate

PIK

Payment-in-kind

USGG

U.S. Generic Government Yield Index

(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.

(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 $100,189,764 or 63.1% of the fund's net assets as of 7-31-15.

(Z)

All or a portion of this security is segregated as collateral pursuant to the Credit Facility Agreement. Total collateral value at 7-31-15 was $167,994,847.

†

At 7-31-15, the aggregate cost of investment securities for federal income tax purposes was $246,866,956. Net unrealized depreciation aggregated $5,140,353, of which $5,165,328 related to appreciated investment securities and $10,305,681 related to depreciated investment securities.

The fund had the following country composition as a percentage of net assets on 7-31-15:

	United States			55.8%
	Mexico			7.1%
	Netherlands			6.8%
	Luxembourg			3.5%
	Brazil			2.7%
	Ireland			2.7%
	United Kingdom			2.5%
	Canada			2.3%
	Israel			2%
	Chile			1.3%
	Other			13.3%
	Total			100.0%

Notes to Fund's investments

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: Equity securities held by the fund are valued at the last sale price or official closing price on the exchange 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. 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. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Foreign securities and currencies 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 July 31, 2015, by major security category or type:

				Total value at 7-31-15			Level 1 quoted price			Level 2 significant observable inputs			Level 3 significant unobservable inputs
	Corporate bonds			$208,785,237			—			$208,785,237			—
	Convertible bonds			2,851,528			—			2,851,528			—
	Capital preferred securities			1,025,550			—			1,025,550			—
	U.S. Government and Agency obligations			14,336,128			—			14,336,128			—
	Foreign government obligations			2,467,989			—			2,467,989			—
	Collateralized mortgage obligations			4,845,633			—			4,845,633			—
	Asset backed securities			1,407,697			—			1,407,697			—
	Preferred securities			3,449,841			$2,323,755			1,126,086			—
	Short-term investments			2,557,000			—			2,557,000			—
	Total investments in securities			$241,726,603			$2,323,755			$239,402,848			—
	Other financial instruments:
	Interest rate swaps			($477,541	)		—			($477,541	)		—

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.

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 July 31, 2015, the fund used interest rate swaps in anticipation of rising interest rates. The following table summarizes the interest rate swap contracts held as of July 31, 2015.

Counterparty

USD notional amount

Payments made by fund

Payments received by fund

Maturity date

Market value

Morgan Stanley Capital Services

$22,000,000

Fixed 1.442500%

3 Month LIBOR(a)

Aug 2016

($338,514

)

Morgan Stanley Capital Services

22,000,000

Fixed 1.093750%

3 Month LIBOR(a)

May 2017

(139,027

)

Total

$44,000,000

($477,541

)

^(a) At 7-31-15, the 3-month LIBOR rate was 0.30860%

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

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

	P5Q3	07/15
This report is for the information of the shareholders of John Hancock Investors Trust.		9/15