UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811- 22441
John Hancock Hedged Equity & Income Fund (Exact name of registrant as specified in charter)
200 Berkeley Street, Boston, Massachusetts 02116 (Address of principal executive offices) (Zip code)
Salvatore Schiavone
Treasurer
200 Berkeley Street
Boston, Massachusetts 02116
(Name and address of agent for service) Registrant's telephone number, including area code: 617-663-4497
Date of fiscal year end: | December 31 |
Date of reporting period: | December 31, 2020 |
ITEM 1. REPORTS TO STOCKHOLDERS.
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
1 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 2 |
3 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 4 |
5 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT |
TOP 10 HOLDINGS AS OF 12/31/2020 (% of net assets) | |
Verizon Communications, Inc. | 1.6 |
AXA SA | 1.3 |
Pfizer, Inc. | 1.2 |
The Progressive Corp. | 1.1 |
Comcast Corp., Class A | 1.1 |
Philip Morris International, Inc. | 1.0 |
Novartis AG | 1.0 |
Bank of America Corp. | 1.0 |
Texas Instruments, Inc. | 1.0 |
UBS Group AG | 1.0 |
TOTAL | 11.3 |
Cash and cash equivalents are not included. |
COUNTRY COMPOSITION AS OF 12/31/2020 (% of net assets) | |
United States | 45.4 |
Japan | 9.1 |
France | 6.3 |
United Kingdom | 5.8 |
Canada | 4.5 |
South Korea | 3.9 |
Switzerland | 3.5 |
Germany | 1.9 |
Netherlands | 1.8 |
China | 1.3 |
Other countries | 16.5 |
TOTAL | 100.0 |
ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 6 |
7 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT |
Shares | Value | ||||
Common stocks 79.7% | $124,353,418 | ||||
(Cost $121,437,876) | |||||
Communication services 8.9% | 13,953,008 | ||||
Diversified telecommunication services 4.0% | |||||
AT&T, Inc. | 16,259 | 467,609 | |||
BT Group PLC (A) | 48,277 | 87,017 | |||
CenturyLink, Inc. | 15,972 | 155,727 | |||
China Telecom Corp., Ltd., H Shares | 189,659 | 52,319 | |||
China Unicom Hong Kong, Ltd. | 116,969 | 66,728 | |||
Deutsche Telekom AG | 9,182 | 167,595 | |||
Hellenic Telecommunications Organization SA | 63,699 | 1,024,319 | |||
Koninklijke KPN NV | 360,513 | 1,095,704 | |||
KT Corp. | 4,762 | 105,262 | |||
Magyar Telekom Telecommunications PLC | 35,167 | 45,027 | |||
Nippon Telegraph & Telephone Corp. | 4,488 | 115,158 | |||
Orange SA | 802 | 9,548 | |||
Proximus SADP | 2,565 | 50,667 | |||
Swisscom AG | 339 | 182,564 | |||
Telefonica Deutschland Holding AG | 55,745 | 153,537 | |||
Turk Telekomunikasyon AS | 46,158 | 52,866 | |||
Verizon Communications, Inc. (B) | 41,040 | 2,411,076 | |||
Entertainment 0.4% | |||||
Avex, Inc. | 3,980 | 44,162 | |||
DeNA Company, Ltd. | 4,540 | 80,816 | |||
G-bits Network Technology Xiamen Company, Ltd., Class A | 535 | 34,875 | |||
Koei Tecmo Holdings Company, Ltd. | 575 | 35,103 | |||
Netflix, Inc. (A) | 314 | 169,789 | |||
Nintendo Company, Ltd. | 441 | 283,096 | |||
Interactive media and services 1.5% | |||||
Alphabet, Inc., Class A (A) | 454 | 795,699 | |||
Alphabet, Inc., Class C (A) | 72 | 126,135 | |||
Autohome, Inc., ADR | 1,252 | 124,724 | |||
Baidu, Inc., ADR (A) | 2,000 | 432,480 | |||
Facebook, Inc., Class A (A) | 1,995 | 544,954 | |||
Gree, Inc. | 17,150 | 100,599 | |||
Kakao Corp. | 359 | 128,817 | |||
Z Holdings Corp. | 7,895 | 47,775 | |||
Media 1.7% | |||||
Comcast Corp., Class A | 31,151 | 1,632,312 | |||
Criteo SA, ADR (A) | 2,881 | 59,089 | |||
Fuji Media Holdings, Inc. | 3,045 | 32,499 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 8 |
Shares | Value | ||||
Communication services (continued) | |||||
Media (continued) | |||||
Gendai Agency, Inc. | 1,160 | $3,105 | |||
Metropole Television SA (A) | 3,669 | 59,475 | |||
Nippon Television Holdings, Inc. | 5,730 | 62,468 | |||
Omnicom Group, Inc. | 2,602 | 162,287 | |||
RTL Group SA (A) | 1,787 | 86,939 | |||
Television Francaise 1 (A) | 9,631 | 77,402 | |||
The Interpublic Group of Companies, Inc. | 8,516 | 200,296 | |||
TV Asahi Holdings Corp. | 3,660 | 60,088 | |||
WPP PLC | 13,353 | 144,693 | |||
Zee Entertainment Enterprises, Ltd. | 12,985 | 39,892 | |||
Wireless telecommunication services 1.3% | |||||
Advanced Info Service PCL | 12,697 | 74,630 | |||
China Mobile, Ltd. | 12,661 | 72,173 | |||
Globe Telecom, Inc. | 2,597 | 109,896 | |||
KDDI Corp. | 31,656 | 938,608 | |||
MTN Group, Ltd. | 7,690 | 31,738 | |||
PLDT, Inc. | 599 | 16,725 | |||
PLDT, Inc., ADR | 3,162 | 88,251 | |||
SK Telecom Company, Ltd. | 733 | 161,088 | |||
SoftBank Corp. | 34,770 | 436,433 | |||
Turkcell Iletisim Hizmetleri AS | 75,608 | 163,334 | |||
VEON, Ltd., ADR | 31,682 | 47,840 | |||
Consumer discretionary 5.8% | 9,020,958 | ||||
Auto components 0.9% | |||||
Aisan Industry Company, Ltd. | 1,800 | 8,374 | |||
Bridgestone Corp. | 6,651 | 218,125 | |||
Changzhou Xingyu Automotive Lighting Systems Company, Ltd., Class A | 2,560 | 78,596 | |||
Exedy Corp. | 4,415 | 54,227 | |||
Hankook Tire & Technology Company, Ltd. (A) | 18,764 | 681,701 | |||
Ningbo Tuopu Group Company, Ltd., Class A | 1,895 | 11,171 | |||
NOK Corp. | 6,215 | 66,839 | |||
Sumitomo Riko Company, Ltd. | 3,470 | 20,449 | |||
Tachi-S Company, Ltd. | 3,070 | 34,967 | |||
Tokai Rika Company, Ltd. | 4,600 | 77,854 | |||
Toyota Boshoku Corp. | 4,680 | 76,006 | |||
Unipres Corp. | 4,850 | 45,684 | |||
Automobiles 1.5% | |||||
Daimler AG | 3,299 | 233,831 | |||
Dongfeng Motor Group Company, Ltd., H Shares | 109,977 | 128,511 | |||
Honda Motor Company, Ltd. | 8,410 | 237,299 | |||
Isuzu Motors, Ltd. | 97,282 | 926,089 |
9 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Consumer discretionary (continued) | |||||
Automobiles (continued) | |||||
Kia Motors Corp. (A) | 10,359 | $596,852 | |||
Mitsubishi Motors Corp. (A) | 13,380 | 28,151 | |||
Nissan Motor Company, Ltd. (A) | 16,300 | 88,353 | |||
Renault SA (A) | 2,220 | 97,174 | |||
Diversified consumer services 0.0% | |||||
Benesse Holdings, Inc. | 400 | 7,815 | |||
Offcn Education Technology Company, Ltd., Class A | 4,100 | 22,046 | |||
Hotels, restaurants and leisure 1.2% | |||||
Caesars Entertainment, Inc. (A) | 421 | 31,268 | |||
Evolution Gaming Group AB (C) | 242 | 24,329 | |||
OPAP SA | 36,296 | 485,275 | |||
Sands China, Ltd. | 242,400 | 1,058,657 | |||
Starbucks Corp. | 1,370 | 146,563 | |||
Yum China Holdings, Inc. | 1,026 | 58,574 | |||
Household durables 0.1% | |||||
Funai Electric Company, Ltd. (A) | 6,613 | 26,250 | |||
Nikon Corp. | 6,155 | 38,887 | |||
Tamron Company, Ltd. | 740 | 13,112 | |||
Internet and direct marketing retail 0.7% | |||||
Amazon.com, Inc. (A) | 340 | 1,107,356 | |||
Multiline retail 0.1% | |||||
Marks & Spencer Group PLC (A) | 23,845 | 44,230 | |||
Target Corp. | 651 | 114,921 | |||
Specialty retail 0.9% | |||||
CECONOMY AG (A) | 9,748 | 66,951 | |||
China Tourism Group Duty Free Corp., Ltd., Class A | 786 | 34,020 | |||
Halfords Group PLC (A) | 11,553 | 42,279 | |||
Kingfisher PLC (A) | 28,021 | 103,542 | |||
Shimamura Company, Ltd. | 1,130 | 118,735 | |||
The Home Depot, Inc. | 3,615 | 960,216 | |||
Tiffany & Company | 508 | 66,777 | |||
Xebio Holdings Company, Ltd. | 4,925 | 39,376 | |||
Textiles, apparel and luxury goods 0.4% | |||||
361 Degrees International, Ltd. | 117,972 | 16,453 | |||
Sanyo Shokai, Ltd. | 2,120 | 12,177 | |||
VF Corp. | 7,855 | 670,896 | |||
Consumer staples 6.4% | 9,933,298 | ||||
Beverages 0.6% | |||||
Anadolu Efes Biracilik Ve Malt Sanayii AS | 15,380 | 47,913 | |||
Anhui Gujing Distillery Company, Ltd., Class A | 2,655 | 110,525 | |||
Coca-Cola Icecek AS | 6,462 | 57,145 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 10 |
Shares | Value | ||||
Consumer staples (continued) | |||||
Beverages (continued) | |||||
Luzhou Laojiao Company, Ltd., Class A | 1,900 | $65,735 | |||
PepsiCo, Inc. | 1,717 | 254,631 | |||
Shanxi Xinghuacun Fen Wine Factory Company, Ltd., Class A | 600 | 34,468 | |||
Sichuan Swellfun Company, Ltd., Class A | 2,400 | 30,506 | |||
The Coca-Cola Company | 5,210 | 285,716 | |||
Wuliangye Yibin Company, Ltd., Class A | 500 | 22,330 | |||
Food and staples retailing 0.8% | |||||
Costco Wholesale Corp. | 625 | 235,488 | |||
DaShenLin Pharmaceutical Group Company, Ltd., Class A | 300 | 3,596 | |||
J Sainsbury PLC | 46,179 | 141,941 | |||
Jeronimo Martins SGPS SA | 2,335 | 39,251 | |||
Koninklijke Ahold Delhaize NV | 2,232 | 62,968 | |||
METRO AG | 2,006 | 22,533 | |||
Seven & i Holdings Company, Ltd. | 1,113 | 39,412 | |||
The Kroger Company | 2,461 | 78,161 | |||
Walgreens Boots Alliance, Inc. | 2,382 | 94,994 | |||
Walmart, Inc. | 2,973 | 428,558 | |||
Welcia Holdings Company, Ltd. | 1,492 | 56,282 | |||
Food products 1.9% | |||||
Archer-Daniels-Midland Company | 2,286 | 115,237 | |||
Bunge, Ltd. | 1,150 | 75,417 | |||
General Mills, Inc. | 3,668 | 215,678 | |||
Hormel Foods Corp. | 2,836 | 132,186 | |||
Kellogg Company | 17,356 | 1,080,064 | |||
Mondelez International, Inc., Class A | 1,015 | 59,347 | |||
Nestle SA | 8,020 | 948,054 | |||
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT | 214,870 | 21,057 | |||
The Hershey Company | 434 | 66,111 | |||
The J.M. Smucker Company | 508 | 58,725 | |||
The Kraft Heinz Company | 4,230 | 146,612 | |||
Household products 0.9% | |||||
Colgate-Palmolive Company | 1,816 | 155,286 | |||
Kimberly-Clark Corp. | 1,313 | 177,032 | |||
Pigeon Corp. | 12,121 | 500,266 | |||
The Clorox Company | 571 | 115,296 | |||
The Procter & Gamble Company | 2,894 | 402,671 | |||
Personal products 0.0% | |||||
Kao Corp. | 361 | 27,889 | |||
Proya Cosmetics Company, Ltd., Class A | 500 | 13,629 |
11 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Consumer staples (continued) | |||||
Tobacco 2.2% | |||||
Altria Group, Inc. | 12,267 | $502,947 | |||
British American Tobacco PLC | 7,886 | 292,861 | |||
ITC, Ltd. | 30,359 | 86,985 | |||
Japan Tobacco, Inc. | 38,060 | 775,935 | |||
KT&G Corp. | 2,698 | 206,574 | |||
Philip Morris International, Inc. | 19,873 | 1,645,286 | |||
Energy 5.1% | 8,038,840 | ||||
Energy equipment and services 0.0% | |||||
Fugro NV (A) | 3,781 | 34,800 | |||
Saipem SpA | 16,214 | 44,013 | |||
The Drilling Company of 1972 A/S (A) | 214 | 6,701 | |||
Trican Well Service, Ltd. (A) | 19,618 | 25,892 | |||
Oil, gas and consumable fuels 5.1% | |||||
Advantage Oil & Gas, Ltd. (A) | 13,719 | 18,430 | |||
ARC Resources, Ltd. | 6,996 | 32,977 | |||
BP PLC | 55,870 | 192,793 | |||
BP PLC, ADR | 1,592 | 32,668 | |||
Cameco Corp. | 4,360 | 58,401 | |||
Chevron Corp. | 2,187 | 184,692 | |||
Coal India, Ltd. | 132,014 | 245,216 | |||
Enbridge, Inc. | 37,458 | 1,197,985 | |||
Eni SpA | 14,570 | 152,107 | |||
Exxaro Resources, Ltd. | 7,082 | 67,197 | |||
Exxon Mobil Corp. | 13,322 | 549,133 | |||
Foresight Energy LLC (A) | 191 | 1,620 | |||
Galp Energia SGPS SA | 80,629 | 854,377 | |||
Gazprom PJSC, ADR | 12,902 | 72,251 | |||
Inpex Corp. | 13,010 | 70,154 | |||
Japan Petroleum Exploration Company, Ltd. | 1,255 | 22,838 | |||
Kinder Morgan, Inc. | 15,366 | 210,053 | |||
LUKOIL PJSC, ADR | 329 | 22,490 | |||
Oil & Natural Gas Corp., Ltd. | 42,749 | 54,569 | |||
ONEOK, Inc. | 5,411 | 207,674 | |||
Ovintiv, Inc. | 2,594 | 37,273 | |||
Petronet LNG, Ltd. | 18,106 | 61,398 | |||
Repsol SA | 24,593 | 247,753 | |||
Royal Dutch Shell PLC, B Shares | 18,458 | 312,839 | |||
Surgutneftegas PJSC, ADR (London Stock Exchange) | 52,100 | 240,676 | |||
TC Energy Corp. | 28,539 | 1,160,259 | |||
The Williams Companies, Inc. | 10,078 | 202,064 | |||
TOTAL SE | 31,736 | 1,369,796 | |||
Tourmaline Oil Corp. | 2,150 | 28,984 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 12 |
Shares | Value | ||||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
YPF SA, ADR (A) | 3,993 | $18,767 | |||
Financials 15.5% | 24,157,317 | ||||
Banks 7.5% | |||||
ABN AMRO Bank NV (C) | 9,476 | 92,854 | |||
AIB Group PLC (A) | 42,632 | 87,550 | |||
Bank Mandiri Persero Tbk PT | 65,117 | 29,384 | |||
Bank of America Corp. | 50,126 | 1,519,319 | |||
Bank of Ireland Group PLC (A) | 29,799 | 120,298 | |||
Bank of Montreal | 7,859 | 597,528 | |||
BNP Paribas SA (A) | 3,566 | 188,257 | |||
BPER Banca (A) | 17,934 | 32,695 | |||
CaixaBank SA | 47,644 | 122,458 | |||
Canara Bank (A) | 16,686 | 29,527 | |||
CIMB Group Holdings BHD | 61,661 | 66,018 | |||
Citizens Financial Group, Inc. | 17,280 | 617,933 | |||
Dah Sing Financial Holdings, Ltd. | 11,459 | 32,325 | |||
DGB Financial Group, Inc. (A) | 8,182 | 51,263 | |||
DNB ASA | 53,674 | 1,051,775 | |||
Erste Group Bank AG | 2,062 | 62,814 | |||
Fifth Third Bancorp | 21,370 | 589,171 | |||
Huntington Bancshares, Inc. | 9,374 | 118,394 | |||
ING Groep NV (A) | 18,901 | 175,738 | |||
Japan Post Bank Company, Ltd. | 4,191 | 34,448 | |||
JPMorgan Chase & Co. | 1,013 | 128,722 | |||
Kasikornbank PCL | 11,193 | 42,600 | |||
Kasikornbank PCL, NVDR | 15,196 | 57,298 | |||
KB Financial Group, Inc. | 15,852 | 629,594 | |||
Mitsubishi UFJ Financial Group, Inc. | 238,529 | 1,056,115 | |||
Resona Holdings, Inc. | 42,572 | 149,035 | |||
Royal Bank of Canada | 12,265 | 1,007,775 | |||
Sberbank of Russia PJSC, ADR | 3,470 | 50,315 | |||
Shinhan Financial Group Company, Ltd. | 3,800 | 112,758 | |||
Societe Generale SA (A) | 4,848 | 100,783 | |||
Standard Chartered PLC (A) | 141,482 | 898,403 | |||
Sumitomo Mitsui Financial Group, Inc. | 5,070 | 157,161 | |||
Sumitomo Mitsui Trust Holdings, Inc. | 3,440 | 106,140 | |||
The Bank of Nova Scotia | 25,576 | 1,382,378 | |||
The Tochigi Bank, Ltd. | 9,760 | 16,299 | |||
Unicaja Banco SA (A)(C) | 62,042 | 54,515 | |||
UniCredit SpA (A) | 12,259 | 114,859 | |||
Capital markets 2.4% | |||||
3i Group PLC | 38,366 | 606,832 |
13 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Financials (continued) | |||||
Capital markets (continued) | |||||
CME Group, Inc. | 961 | $174,950 | |||
GAM Holding AG (A) | 3,851 | 9,488 | |||
Ichiyoshi Securities Company, Ltd. | 4,120 | 18,641 | |||
IGM Financial, Inc. | 2,071 | 56,148 | |||
Intercontinental Exchange, Inc. | 382 | 44,041 | |||
Julius Baer Group, Ltd. | 1,250 | 72,014 | |||
Mirae Asset Daewoo Company, Ltd. (A) | 60,396 | 525,898 | |||
Nomura Holdings, Inc. | 15,193 | 80,326 | |||
Samsung Securities Company, Ltd. (A) | 15,277 | 569,975 | |||
Standard Life Aberdeen PLC | 28,755 | 110,218 | |||
UBS Group AG | 107,393 | 1,512,075 | |||
Uranium Participation Corp. (A) | 8,727 | 33,663 | |||
Consumer finance 0.0% | |||||
Provident Financial PLC (A) | 12,548 | 52,575 | |||
Diversified financial services 0.2% | |||||
G-Resources Group, Ltd. (A) | 1,207,812 | 7,489 | |||
M&G PLC | 35,085 | 94,700 | |||
REC, Ltd. | 77,696 | 142,976 | |||
Insurance 5.1% | |||||
Admiral Group PLC | 1,510 | 59,708 | |||
Ageas SA/NV | 1,995 | 105,949 | |||
Assicurazioni Generali SpA | 26,061 | 456,286 | |||
Aviva PLC | 178,076 | 792,088 | |||
AXA SA | 85,369 | 2,047,348 | |||
China Reinsurance Group Corp., H Shares | 310,498 | 32,032 | |||
Dai-ichi Life Holdings, Inc. | 6,175 | 93,029 | |||
Direct Line Insurance Group PLC | 60,663 | 265,322 | |||
MetLife, Inc. | 12,871 | 604,293 | |||
SCOR SE (A) | 2,265 | 73,469 | |||
Shin Kong Financial Holding Company, Ltd. | 117,401 | 36,921 | |||
Swiss Re AG | 2,169 | 204,348 | |||
T&D Holdings, Inc. | 13,145 | 155,490 | |||
The Progressive Corp. (B) | 17,478 | 1,728,225 | |||
Tokio Marine Holdings, Inc. | 24,700 | 1,272,582 | |||
Tongyang Life Insurance Company, Ltd. (A) | 7,374 | 23,928 | |||
Mortgage real estate investment trusts 0.3% | |||||
Annaly Capital Management, Inc. | 48,496 | 409,791 | |||
Health care 7.5% | 11,778,258 | ||||
Biotechnology 1.1% | |||||
AbbVie, Inc. | 10,258 | 1,099,145 | |||
Amgen, Inc. | 1,012 | 232,679 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 14 |
Shares | Value | ||||
Health care (continued) | |||||
Biotechnology (continued) | |||||
Chongqing Zhifei Biological Products Company, Ltd., Class A | 3,754 | $84,851 | |||
Gilead Sciences, Inc. | 4,662 | 271,608 | |||
Health care equipment and supplies 1.1% | |||||
Abbott Laboratories | 2,707 | 296,389 | |||
Becton, Dickinson and Company | 291 | 72,814 | |||
Coloplast A/S, B Shares | 696 | 106,438 | |||
Hoya Corp. | 1,080 | 149,574 | |||
Jafron Biomedical Company, Ltd., Class A | 100 | 1,039 | |||
Medtronic PLC | 8,816 | 1,032,706 | |||
Ovctek China, Inc., Class A | 2,700 | 33,851 | |||
ResMed, Inc. | 318 | 67,594 | |||
Health care providers and services 0.3% | |||||
Cardinal Health, Inc. | 1,868 | 100,050 | |||
CVS Health Corp. | 1,428 | 97,532 | |||
UnitedHealth Group, Inc. | 820 | 287,558 | |||
Health care technology 0.0% | |||||
AGFA-Gevaert NV (A) | 7,321 | 34,951 | |||
Life sciences tools and services 0.0% | |||||
CMIC Holdings Company, Ltd. | 1,390 | 18,277 | |||
EPS Holdings, Inc. | 2,580 | 24,436 | |||
Pharmaceuticals 5.0% | |||||
AstraZeneca PLC | 8,546 | 852,150 | |||
Asymchem Laboratories Tianjin Company, Ltd., Class A | 200 | 9,155 | |||
Bristol-Myers Squibb Company | 4,958 | 307,545 | |||
Chugai Pharmaceutical Company, Ltd. | 1,384 | 73,844 | |||
Daiichi Sankyo Company, Ltd. | 756 | 25,908 | |||
Eisai Company, Ltd. | 740 | 52,920 | |||
Eli Lilly & Company | 632 | 106,707 | |||
GlaxoSmithKline PLC | 4,770 | 87,281 | |||
Johnson & Johnson | 4,300 | 676,734 | |||
Merck & Company, Inc. | 15,986 | 1,307,655 | |||
Novartis AG | 16,941 | 1,595,129 | |||
Novo Nordisk A/S, B Shares | 1,029 | 71,782 | |||
Pfizer, Inc. (B) | 48,811 | 1,796,733 | |||
Roche Holding AG | 892 | 310,682 | |||
Sanofi | 1,161 | 112,528 | |||
Takeda Pharmaceutical Company, Ltd. | 8,023 | 290,347 | |||
Zhangzhou Pientzehuang Pharmaceutical Company, Ltd., Class A | 475 | 19,446 | |||
Zhejiang Huahai Pharmaceutical Company, Ltd., Class A | 1,785 | 9,238 | |||
Zhejiang NHU Company, Ltd., Class A | 9,095 | 46,914 |
15 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Health care (continued) | |||||
Pharmaceuticals (continued) | |||||
Zoetis, Inc. | 85 | $14,068 | |||
Industrials 7.1% | 11,012,530 | ||||
Aerospace and defense 1.3% | |||||
BAE Systems PLC | 178,584 | 1,190,936 | |||
Dassault Aviation SA (A) | 53 | 57,713 | |||
Lockheed Martin Corp. | 2,198 | 780,246 | |||
Northrop Grumman Corp. | 87 | 26,511 | |||
Air freight and logistics 0.6% | |||||
bpost SA (A) | 2,671 | 27,609 | |||
CH Robinson Worldwide, Inc. | 1,184 | 111,142 | |||
Hyundai Glovis Company, Ltd. (A) | 3,127 | 530,595 | |||
PostNL NV (A) | 28,464 | 97,026 | |||
United Parcel Service, Inc., Class B | 1,046 | 176,146 | |||
Airlines 0.1% | |||||
Japan Airlines Company, Ltd. (A) | 4,720 | 91,022 | |||
Building products 0.2% | |||||
Cie de Saint-Gobain | 5,232 | 240,632 | |||
Zhejiang Weixing New Building Materials Company, Ltd., Class A | 6,915 | 19,802 | |||
Commercial services and supplies 0.2% | |||||
Aeon Delight Company, Ltd. | 2,119 | 55,199 | |||
Babcock International Group PLC (A) | 13,465 | 51,453 | |||
Prosegur Cia de Seguridad SA | 15,294 | 45,883 | |||
Republic Services, Inc. | 705 | 67,892 | |||
Toppan Forms Company, Ltd. | 4,190 | 42,987 | |||
Waste Management, Inc. | 614 | 72,409 | |||
Construction and engineering 0.9% | |||||
China Machinery Engineering Corp., H Shares | 93,073 | 24,638 | |||
Chiyoda Corp. (A) | 6,315 | 17,360 | |||
Implenia AG | 404 | 10,952 | |||
JGC Holdings Corp. | 10,335 | 96,800 | |||
Raubex Group, Ltd. | 17,566 | 25,602 | |||
Toyo Engineering Corp. (A) | 4,720 | 18,603 | |||
Vinci SA | 11,612 | 1,156,664 | |||
Electrical equipment 0.1% | |||||
Cosel Company, Ltd. | 3,130 | 38,179 | |||
Ushio, Inc. | 5,630 | 73,337 | |||
Zumtobel Group AG (A) | 4,331 | 32,073 | |||
Industrial conglomerates 0.1% | |||||
3M Company | 1,196 | 209,049 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 16 |
Shares | Value | ||||
Industrials (continued) | |||||
Machinery 1.5% | |||||
Atlas Copco AB, B Shares | 12,476 | $560,016 | |||
Caterpillar, Inc. | 345 | 62,797 | |||
Doosan Bobcat, Inc. (A) | 793 | 21,713 | |||
Hino Motors, Ltd. | 11,550 | 98,600 | |||
Hisaka Works, Ltd. | 3,050 | 25,157 | |||
Kone OYJ, B Shares | 1,006 | 81,969 | |||
Kubota Corp. | 26,360 | 575,903 | |||
Mitsubishi Heavy Industries, Ltd. | 1,595 | 48,849 | |||
Nabtesco Corp. | 13,105 | 575,214 | |||
OKUMA Corp. | 910 | 51,041 | |||
Shibaura Machine Company, Ltd. | 863 | 19,733 | |||
Sumitomo Heavy Industries, Ltd. | 2,770 | 68,466 | |||
The Japan Steel Works, Ltd. | 2,420 | 72,288 | |||
THK Company, Ltd. | 2,850 | 92,171 | |||
Marine 0.2% | |||||
A.P. Moller - Maersk A/S, Series B | 61 | 135,740 | |||
D/S Norden A/S | 3,923 | 70,954 | |||
Pacific Basin Shipping, Ltd. | 378,339 | 71,370 | |||
Professional services 0.8% | |||||
Adecco Group AG | 3,008 | 200,343 | |||
Bureau Veritas SA (A) | 33,207 | 886,452 | |||
Hays PLC | 41,006 | 80,442 | |||
Pagegroup PLC (A) | 11,290 | 69,001 | |||
SThree PLC (A) | 7,408 | 30,110 | |||
Road and rail 0.1% | |||||
Daqin Railway Company, Ltd., Class A | 81,500 | 80,529 | |||
The Go-Ahead Group PLC | 2,556 | 34,560 | |||
Trading companies and distributors 1.0% | |||||
Mitsubishi Corp. | 8,898 | 219,352 | |||
Rexel SA (A) | 8,871 | 140,014 | |||
SIG PLC (A) | 21,039 | 9,064 | |||
Triton International, Ltd. | 23,377 | 1,134,018 | |||
Xiamen C & D, Inc., Class A | 17,820 | 22,377 | |||
Transportation infrastructure 0.0% | |||||
Hamburger Hafen und Logistik AG | 1,040 | 23,532 | |||
Kamigumi Company, Ltd. | 3,410 | 62,295 | |||
Information technology 10.3% | 16,113,257 | ||||
Communications equipment 1.1% | |||||
Cisco Systems, Inc. | 29,414 | 1,316,277 | |||
Juniper Networks, Inc. | 8,427 | 189,692 | |||
Motorola Solutions, Inc. | 245 | 41,665 |
17 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology (continued) | |||||
Communications equipment (continued) | |||||
Nokia OYJ (A) | 32,109 | $124,015 | |||
Electronic equipment, instruments and components 1.0% | |||||
Citizen Watch Company, Ltd. | 16,175 | 46,185 | |||
Enplas Corp. | 1,000 | 37,839 | |||
Foxconn Technology Company, Ltd. | 31,860 | 60,693 | |||
Hexagon AB, B Shares | 6,309 | 578,422 | |||
Hon Hai Precision Industry Company, Ltd. | 27,589 | 90,463 | |||
Kingboard Holdings, Ltd. | 142,124 | 599,650 | |||
Lens Technology Company, Ltd., Class A | 4,265 | 19,949 | |||
Nichicon Corp. | 5,550 | 70,320 | |||
Nippon Chemi-Con Corp. (A) | 3,350 | 59,559 | |||
PAX Global Technology, Ltd. | 62,388 | 55,530 | |||
IT services 1.7% | |||||
Accenture PLC, Class A | 877 | 229,081 | |||
Broadridge Financial Solutions, Inc. | 1,247 | 191,040 | |||
Fidelity National Information Services, Inc. | 818 | 115,714 | |||
Fujitsu, Ltd. | 1,210 | 174,888 | |||
IBM Corp. | 3,485 | 438,692 | |||
Infosys, Ltd. | 9,556 | 163,516 | |||
Itochu Techno-Solutions Corp. | 5,417 | 193,430 | |||
Jack Henry & Associates, Inc. | 472 | 76,459 | |||
Leidos Holdings, Inc. | 998 | 104,910 | |||
Mastercard, Inc., Class A | 583 | 208,096 | |||
Nomura Research Institute, Ltd. | 3,656 | 130,788 | |||
Obic Company, Ltd. | 770 | 154,753 | |||
Sopra Steria Group (A) | 136 | 21,922 | |||
The Western Union Company | 4,903 | 107,572 | |||
Visa, Inc., Class A | 1,695 | 370,747 | |||
Semiconductors and semiconductor equipment 3.7% | |||||
Analog Devices, Inc. | 1,040 | 153,639 | |||
Broadcom, Inc. | 2,404 | 1,052,591 | |||
Disco Corp. | 160 | 53,925 | |||
Hangzhou First Applied Material Company, Ltd., Class A | 5,400 | 70,654 | |||
Infineon Technologies AG | 451 | 17,223 | |||
Intel Corp. | 4,427 | 220,553 | |||
KLA Corp. | 657 | 170,104 | |||
Lasertec Corp. | 117 | 13,733 | |||
LONGi Green Energy Technology Company, Ltd., Class A | 2,390 | 33,744 | |||
Miraial Company, Ltd. | 2,080 | 22,220 | |||
NVIDIA Corp. | 592 | 309,142 | |||
QUALCOMM, Inc. | 1,975 | 300,872 | |||
Skyworks Solutions, Inc. | 967 | 147,835 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 18 |
Shares | Value | ||||
Information technology (continued) | |||||
Semiconductors and semiconductor equipment (continued) | |||||
Taiwan Semiconductor Manufacturing Company, Ltd. | 76,000 | $1,437,727 | |||
Texas Instruments, Inc. | 9,217 | 1,512,786 | |||
Tokyo Seimitsu Company, Ltd. | 985 | 46,345 | |||
Xilinx, Inc. | 969 | 137,375 | |||
Software 1.2% | |||||
Intuit, Inc. | 388 | 147,382 | |||
Microsoft Corp. | 5,456 | 1,213,524 | |||
NortonLifeLock, Inc. | 1,900 | 39,482 | |||
Oracle Corp. | 2,319 | 150,016 | |||
Oracle Corp. Japan | 1,979 | 257,972 | |||
Trend Micro, Inc. | 2,088 | 120,213 | |||
Technology hardware, storage and peripherals 1.6% | |||||
Acer, Inc. | 68,066 | 57,431 | |||
Apple, Inc. | 10,787 | 1,431,327 | |||
Canon, Inc. | 11,705 | 226,755 | |||
Catcher Technology Company, Ltd. | 4,296 | 31,589 | |||
Compal Electronics, Inc. | 134,620 | 99,345 | |||
HP, Inc. | 4,563 | 112,204 | |||
Maxell Holdings, Ltd. (A) | 3,320 | 41,427 | |||
Melco Holdings, Inc. | 351 | 11,405 | |||
NetApp, Inc. | 1,980 | 131,155 | |||
Quadient SA | 2,833 | 54,419 | |||
Samsung Electronics Company, Ltd. | 1,788 | 133,520 | |||
Seagate Technology PLC | 2,924 | 181,756 | |||
Materials 4.6% | 7,180,431 | ||||
Chemicals 1.2% | |||||
BASF SE | 3,416 | 270,010 | |||
China BlueChemical, Ltd., H Shares | 171,702 | 27,274 | |||
Dow, Inc. | 2,384 | 132,312 | |||
EMS-Chemie Holding AG | 117 | 112,550 | |||
Hanwha Solutions Corp. (A) | 99 | 4,377 | |||
Lomon Billions Group Company, Ltd., Class A | 4,769 | 22,441 | |||
Lotte Chemical Corp. (A) | 2,123 | 540,563 | |||
Nitto Denko Corp. | 750 | 67,185 | |||
Skshu Paint Company, Ltd., Class A | 1,200 | 27,804 | |||
Solvay SA | 4,977 | 586,960 | |||
Construction materials 0.2% | |||||
Huaxin Cement Company, Ltd., Class A | 4,535 | 14,337 | |||
Imerys SA | 1,337 | 63,034 | |||
LafargeHolcim, Ltd. (A) | 3,717 | 204,018 | |||
Vicat SA | 1,192 | 49,952 |
19 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Materials (continued) | |||||
Containers and packaging 0.5% | |||||
Amcor PLC | 58,629 | $690,063 | |||
International Paper Company | 2,864 | 142,398 | |||
Nampak, Ltd. (A) | 55,640 | 7,614 | |||
Metals and mining 2.4% | |||||
Anglo American PLC | 4,269 | 140,972 | |||
Barrick Gold Corp. | 4,641 | 105,734 | |||
Centerra Gold, Inc. | 4,153 | 48,091 | |||
Chubu Steel Plate Company, Ltd. | 1,510 | 10,833 | |||
Eldorado Gold Corp. (A) | 3,618 | 48,011 | |||
Endeavour Mining Corp. (A) | 2,059 | 47,912 | |||
Eregli Demir ve Celik Fabrikalari TAS | 368,787 | 740,107 | |||
Fortescue Metals Group, Ltd. | 2,332 | 42,122 | |||
Gold Fields, Ltd. | 5,306 | 49,256 | |||
Harmony Gold Mining Company, Ltd., ADR (A) | 10,057 | 47,067 | |||
Hunan Valin Steel Company, Ltd., Class A | 136,371 | 99,752 | |||
IAMGOLD Corp. (A) | 5,714 | 20,970 | |||
Impala Platinum Holdings, Ltd. | 2,010 | 27,666 | |||
Kinross Gold Corp. | 8,222 | 60,349 | |||
Kyoei Steel, Ltd. | 4,030 | 55,957 | |||
Maruichi Steel Tube, Ltd. | 1,300 | 28,798 | |||
MMC Norilsk Nickel PJSC, ADR | 15,740 | 495,495 | |||
Nakayama Steel Works, Ltd. | 5,690 | 21,141 | |||
Neturen Company, Ltd. | 2,060 | 9,432 | |||
Newmont Corp. | 2,455 | 146,926 | |||
Norsk Hydro ASA | 31,066 | 144,583 | |||
Novolipetskiy Metallurgicheskiy Kombinat PAO, GDR | 10,450 | 289,133 | |||
Nucor Corp. | 766 | 40,744 | |||
OceanaGold Corp. (A) | 20,985 | 40,556 | |||
Pacific Metals Company, Ltd. | 1,570 | 34,013 | |||
Polyus PJSC, GDR | 257 | 25,903 | |||
Polyus PJSC, GDR (London Stock Exchange) | 29 | 2,923 | |||
Resolute Mining, Ltd. (A) | 34,381 | 21,098 | |||
Salzgitter AG (A) | 3,466 | 91,324 | |||
Severstal PAO, GDR | 19,046 | 334,747 | |||
Tokyo Steel Manufacturing Company, Ltd. | 11,330 | 73,395 | |||
Vedanta, Ltd. | 100,511 | 221,900 | |||
Western Areas, Ltd. | 26,203 | 53,265 | |||
Yamato Kogyo Company, Ltd. | 3,065 | 81,974 | |||
Yodogawa Steel Works, Ltd. | 730 | 14,924 | |||
Paper and forest products 0.3% | |||||
Nine Dragons Paper Holdings, Ltd. | 352,057 | 500,466 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 20 |
Shares | Value | ||||
Real estate 3.6% | $5,556,180 | ||||
Equity real estate investment trusts 2.7% | |||||
American Tower Corp. | 260 | 58,360 | |||
Boston Properties, Inc. | 8,158 | 771,176 | |||
Crown Castle International Corp. | 750 | 119,393 | |||
Extra Space Storage, Inc. | 1,101 | 127,562 | |||
Growthpoint Properties, Ltd. | 242,162 | 207,444 | |||
Iron Mountain, Inc. | 9,602 | 283,067 | |||
Land Securities Group PLC | 5,336 | 49,283 | |||
Medical Properties Trust, Inc. | 53,993 | 1,176,507 | |||
Omega Healthcare Investors, Inc. | 2,274 | 82,592 | |||
Public Storage | 846 | 195,367 | |||
Stockland | 156,775 | 506,159 | |||
The British Land Company PLC | 7,895 | 52,877 | |||
VICI Properties, Inc. | 21,379 | 545,165 | |||
WP Carey, Inc. | 900 | 63,522 | |||
Real estate management and development 0.9% | |||||
CK Asset Holdings, Ltd. | 14,026 | 71,770 | |||
Mitsubishi Estate Company, Ltd. | 5,930 | 95,312 | |||
Nexity SA | 26,644 | 1,150,624 | |||
Utilities 4.9% | 7,609,341 | ||||
Electric utilities 2.8% | |||||
Alliant Energy Corp. | 1,104 | 56,889 | |||
American Electric Power Company, Inc. | 1,652 | 137,562 | |||
CEZ AS | 17,911 | 429,579 | |||
Duke Energy Corp. | 2,918 | 267,172 | |||
Edison International | 15,480 | 972,454 | |||
Enel SpA | 60,951 | 620,160 | |||
Entergy Corp. | 511 | 51,018 | |||
Exelon Corp. | 19,060 | 804,713 | |||
FirstEnergy Corp. | 1,293 | 39,579 | |||
Iberdrola SA | 39,769 | 571,492 | |||
NextEra Energy, Inc. | 859 | 66,272 | |||
OGE Energy Corp. | 2,030 | 64,676 | |||
PPL Corp. | 6,548 | 184,654 | |||
Xcel Energy, Inc. | 711 | 47,402 | |||
Gas utilities 0.1% | |||||
Enagas SA | 3,094 | 68,067 | |||
Naturgy Energy Group SA | 3,573 | 83,087 | |||
Independent power and renewable electricity producers 0.0% | |||||
GD Power Development Company, Ltd., Class A | 106,991 | 36,841 | |||
NTPC, Ltd. | 6,138 | 8,366 |
21 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Utilities (continued) | |||||
Multi-utilities 1.7% | |||||
Algonquin Power & Utilities Corp. | 34,501 | $567,834 | |||
Centrica PLC (A) | 63,626 | 40,372 | |||
CMS Energy Corp. | 329 | 20,072 | |||
Consolidated Edison, Inc. | 761 | 54,997 | |||
Dominion Energy, Inc. | 1,160 | 87,232 | |||
DTE Energy Company | 72 | 8,742 | |||
E.ON SE | 51,852 | 574,169 | |||
Engie SA (A) | 10,888 | 166,913 | |||
National Grid PLC | 90,494 | 1,069,407 | |||
WEC Energy Group, Inc. | 523 | 48,132 | |||
Water utilities 0.3% | |||||
Guangdong Investment, Ltd. | 256,000 | 461,488 | |||
Preferred securities 1.3% | $2,045,912 | ||||
(Cost $1,710,350) | |||||
Consumer discretionary 1.0% | 1,667,205 | ||||
Automobiles 1.0% | |||||
Hyundai Motor Company | 6,714 | 548,453 | |||
Hyundai Motor Company, 3rd Preferred (A) | 1,272 | 103,226 | |||
Volkswagen AG | 5,434 | 1,015,526 | |||
Financials 0.1% | 111,090 | ||||
Insurance 0.1% | |||||
Samsung Fire & Marine Insurance Company, Ltd. | 843 | 111,090 | |||
Information technology 0.2% | 267,617 | ||||
Technology hardware, storage and peripherals 0.2% | |||||
Samsung Electronics Company, Ltd. | 3,945 | 267,617 | |||
Exchange-traded funds 0.0% | $93,686 | ||||
(Cost $91,719) | |||||
iShares Core MSCI EAFE ETF | 1,356 | 93,686 | |||
Other equity investments 0.2% | $259,811 | ||||
(Cost $240,553) | |||||
Allstar Co-Invest LLC (LLC Interest) (A)(D)(E) | 236,300 | 259,811 | |||
Rate (%) | Maturity date | Par value^ | Value | ||
Foreign government obligations 0.1% | $204,710 | ||||
(Cost $198,131) | |||||
Turkey 0.1% | 204,710 | ||||
Istanbul Metropolitan Municipality Bond (C) | 6.375 | 12-09-25 | 200,000 | 204,710 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 22 |
Rate (%) | Maturity date | Par value^ | Value | ||
Corporate bonds 14.2% | $22,051,030 | ||||
(Cost $20,475,524) | |||||
Communication services 2.1% | 3,317,172 | ||||
Diversified telecommunication services 0.5% | |||||
Embarq Corp. | 7.995 | 06-01-36 | 70,000 | 86,342 | |
Frontier Communications Corp. (C) | 5.000 | 05-01-28 | 65,000 | 67,763 | |
Frontier Communications Corp. (C) | 5.875 | 10-15-27 | 65,000 | 70,281 | |
Frontier Communications Corp. (C) | 6.750 | 05-01-29 | 65,000 | 69,550 | |
Frontier Communications Corp. (F) | 6.875 | 01-15-25 | 40,000 | 19,400 | |
Frontier Communications Corp. (F) | 10.500 | 09-15-22 | 40,000 | 20,800 | |
Telecom Argentina SA (C) | 8.500 | 08-06-25 | 88,000 | 82,171 | |
Telecom Italia SpA (C) | 5.303 | 05-30-24 | 200,000 | 217,500 | |
Ziggo BV (C) | 5.500 | 01-15-27 | 153,000 | 159,694 | |
Entertainment 0.1% | |||||
Cinemark USA, Inc. | 5.125 | 12-15-22 | 60,000 | 58,800 | |
Interactive media and services 0.0% | |||||
Arches Buyer, Inc. (C) | 4.250 | 06-01-28 | 35,000 | 35,445 | |
Arches Buyer, Inc. (C) | 6.125 | 12-01-28 | 20,000 | 20,654 | |
Media 1.4% | |||||
Altice Financing SA (C) | 7.500 | 05-15-26 | 210,000 | 221,613 | |
Altice France SA (C) | 3.375 | 01-15-28 | EUR | 100,000 | 120,569 |
Altice France SA | 5.875 | 02-01-27 | EUR | 165,000 | 214,362 |
CCO Holdings LLC (C) | 4.250 | 02-01-31 | 115,000 | 121,194 | |
CCO Holdings LLC (C) | 4.500 | 08-15-30 | 45,000 | 47,756 | |
CCO Holdings LLC (C) | 4.500 | 05-01-32 | 10,000 | 10,677 | |
CCO Holdings LLC (C) | 5.750 | 02-15-26 | 155,000 | 159,937 | |
CSC Holdings LLC (C) | 6.500 | 02-01-29 | 390,000 | 440,330 | |
DISH DBS Corp. | 5.000 | 03-15-23 | 175,000 | 180,688 | |
DISH DBS Corp. | 5.875 | 07-15-22 | 50,000 | 52,250 | |
DISH DBS Corp. | 5.875 | 11-15-24 | 30,000 | 31,456 | |
DISH DBS Corp. | 7.750 | 07-01-26 | 30,000 | 33,584 | |
Gray Television, Inc. (C) | 4.750 | 10-15-30 | 35,000 | 35,525 | |
Lamar Media Corp. | 3.750 | 02-15-28 | 30,000 | 30,831 | |
Nexstar Broadcasting, Inc. (C) | 5.625 | 07-15-27 | 180,000 | 192,825 | |
Scripps Escrow, Inc. (C) | 5.875 | 07-15-27 | 100,000 | 104,470 | |
Virgin Media Secured Finance PLC (C) | 4.125 | 08-15-30 | GBP | 100,000 | 139,143 |
WMG Acquisition Corp. (C) | 5.500 | 04-15-26 | 85,000 | 87,763 | |
Wireless telecommunication services 0.1% | |||||
Sprint Corp. | 7.125 | 06-15-24 | 50,000 | 58,470 | |
Vmed O2 UK Financing I PLC (C) | 3.250 | 01-31-31 | EUR | 100,000 | 125,329 |
Consumer discretionary 2.6% | 4,083,754 | ||||
Auto components 0.2% | |||||
Adient Global Holdings, Ltd. | 3.500 | 08-15-24 | EUR | 200,000 | 243,122 |
23 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Auto components (continued) | |||||
Clarios Global LP (C) | 8.500 | 05-15-27 | 40,000 | $43,456 | |
Automobiles 0.2% | |||||
Ford Motor Company | 4.750 | 01-15-43 | 60,000 | 61,200 | |
Ford Motor Credit Company LLC | 4.542 | 08-01-26 | 200,000 | 213,500 | |
Distributors 0.1% | |||||
LKQ European Holdings BV | 3.625 | 04-01-26 | EUR | 100,000 | 124,608 |
Diversified consumer services 0.1% | |||||
Q-Park Holding I BV (C) | 2.000 | 03-01-27 | EUR | 100,000 | 117,698 |
Service Corp. International | 4.625 | 12-15-27 | 35,000 | 37,275 | |
Service Corp. International | 5.125 | 06-01-29 | 25,000 | 27,688 | |
Hotels, restaurants and leisure 1.0% | |||||
Boyd Gaming Corp. | 4.750 | 12-01-27 | 25,000 | 25,969 | |
Boyd Gaming Corp. | 6.375 | 04-01-26 | 85,000 | 88,299 | |
Caesars Entertainment, Inc. (C) | 6.250 | 07-01-25 | 95,000 | 101,175 | |
Caesars Entertainment, Inc. (C) | 8.125 | 07-01-27 | 55,000 | 60,886 | |
Caesars Resort Collection LLC (C) | 5.250 | 10-15-25 | 120,000 | 121,271 | |
Caesars Resort Collection LLC (C) | 5.750 | 07-01-25 | 30,000 | 31,787 | |
Carnival Corp. (C) | 7.625 | 03-01-26 | 20,000 | 21,790 | |
Carnival Corp. (C) | 9.875 | 08-01-27 | 90,000 | 103,500 | |
Carnival Corp. (C) | 11.500 | 04-01-23 | 110,000 | 127,195 | |
Cirsa Finance International Sarl | 6.250 | 12-20-23 | EUR | 100,000 | 121,310 |
Jacobs Entertainment, Inc. (C) | 7.875 | 02-01-24 | 165,000 | 168,919 | |
KFC Holding Company/Pizza Hut Holdings LLC/Taco Bell of America LLC (C) | 4.750 | 06-01-27 | 60,000 | 63,361 | |
KFC Holding Company/Pizza Hut Holdings LLC/Taco Bell of America LLC (C) | 5.250 | 06-01-26 | 60,000 | 62,250 | |
New Red Finance, Inc. (C) | 3.500 | 02-15-29 | 160,000 | 159,800 | |
New Red Finance, Inc. (C) | 4.000 | 10-15-30 | 60,000 | 60,850 | |
Penn National Gaming, Inc. (C) | 5.625 | 01-15-27 | 186,000 | 194,138 | |
Sugarhouse HSP Gaming Prop Mezz LP (C) | 5.875 | 05-15-25 | 105,000 | 101,588 | |
Yum! Brands, Inc. (C) | 4.750 | 01-15-30 | 30,000 | 32,895 | |
Household durables 0.3% | |||||
Adams Homes, Inc. (C) | 7.500 | 02-15-25 | 20,000 | 20,950 | |
Ashton Woods USA LLC (C) | 6.625 | 01-15-28 | 95,000 | 99,988 | |
Empire Communities Corp. (C) | 7.000 | 12-15-25 | 20,000 | 21,077 | |
KB Home | 4.800 | 11-15-29 | 30,000 | 32,925 | |
M/I Homes, Inc. | 4.950 | 02-01-28 | 70,000 | 74,099 | |
M/I Homes, Inc. | 5.625 | 08-01-25 | 40,000 | 41,600 | |
Taylor Morrison Communities, Inc. (C) | 5.750 | 01-15-28 | 140,000 | 158,550 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 24 |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Leisure products 0.1% | |||||
Mattel, Inc. (C) | 5.875 | 12-15-27 | 40,000 | $44,450 | |
Mattel, Inc. (C) | 6.750 | 12-31-25 | 140,000 | 147,766 | |
Specialty retail 0.5% | |||||
Asbury Automotive Group, Inc. | 4.500 | 03-01-28 | 8,000 | 8,340 | |
Asbury Automotive Group, Inc. | 4.750 | 03-01-30 | 8,000 | 8,580 | |
Group 1 Automotive, Inc. (C) | 4.000 | 08-15-28 | 45,000 | 46,385 | |
L Brands, Inc. | 5.250 | 02-01-28 | 5,000 | 5,213 | |
L Brands, Inc. (C) | 6.625 | 10-01-30 | 50,000 | 55,625 | |
Lithia Motors, Inc. (C) | 4.625 | 12-15-27 | 65,000 | 68,575 | |
Parts Europe SA (C) | 6.500 | 07-16-25 | EUR | 100,000 | 127,136 |
Parts Europe SA | 6.500 | 07-16-25 | EUR | 100,000 | 127,136 |
PetSmart, Inc. (C) | 5.875 | 06-01-25 | 30,000 | 30,825 | |
Specialty Building Products Holdings LLC (C) | 6.375 | 09-30-26 | �� | 85,000 | 90,078 |
Staples, Inc. (C) | 7.500 | 04-15-26 | 200,000 | 208,854 | |
Textiles, apparel and luxury goods 0.1% | |||||
G-III Apparel Group, Ltd. (C) | 7.875 | 08-15-25 | 55,000 | 59,950 | |
PVH Corp. | 4.625 | 07-10-25 | 80,000 | 90,122 | |
Consumer staples 0.7% | 1,012,525 | ||||
Food and staples retailing 0.0% | |||||
Performance Food Group, Inc. (C) | 5.500 | 10-15-27 | 45,000 | 47,475 | |
Food products 0.4% | |||||
B&G Foods, Inc. | 5.250 | 09-15-27 | 55,000 | 58,476 | |
MARB BondCo PLC (C) | 7.000 | 03-15-24 | 200,000 | 205,002 | |
Post Holdings, Inc. (C) | 5.000 | 08-15-26 | 190,000 | 196,175 | |
Post Holdings, Inc. (C) | 5.625 | 01-15-28 | 70,000 | 74,550 | |
Post Holdings, Inc. (C) | 5.750 | 03-01-27 | 50,000 | 52,938 | |
TreeHouse Foods, Inc. | 4.000 | 09-01-28 | 75,000 | 77,578 | |
Household products 0.2% | |||||
Diamond BC BV | 5.625 | 08-15-25 | EUR | 200,000 | 247,018 |
Personal products 0.1% | |||||
Prestige Brands, Inc. (C) | 5.125 | 01-15-28 | 50,000 | 53,313 | |
Energy 1.9% | 3,010,018 | ||||
Energy equipment and services 0.0% | |||||
Transocean, Inc. | 6.800 | 03-15-38 | 110,000 | 36,850 | |
Oil, gas and consumable fuels 1.9% | |||||
Antero Midstream Partners LP (C) | 5.750 | 01-15-28 | 90,000 | 86,418 | |
Apache Corp. | 4.375 | 10-15-28 | 50,000 | 52,049 | |
Apache Corp. | 4.625 | 11-15-25 | 70,000 | 73,500 | |
Apache Corp. | 4.750 | 04-15-43 | 7,000 | 7,258 | |
Apache Corp. | 5.100 | 09-01-40 | 8,000 | 8,580 |
25 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
Blue Racer Midstream LLC (C) | 7.625 | 12-15-25 | 15,000 | $15,975 | |
Buckeye Partners LP (C) | 4.125 | 03-01-25 | 45,000 | 45,563 | |
Buckeye Partners LP (C) | 4.500 | 03-01-28 | 40,000 | 41,200 | |
Cheniere Energy Partners LP | 4.500 | 10-01-29 | 71,000 | 75,102 | |
Continental Resources, Inc. | 4.375 | 01-15-28 | 45,000 | 45,900 | |
Continental Resources, Inc. | 4.900 | 06-01-44 | 25,000 | 24,563 | |
Continental Resources, Inc. (C) | 5.750 | 01-15-31 | 35,000 | 38,849 | |
DCP Midstream Operating LP | 5.375 | 07-15-25 | 45,000 | 49,447 | |
EG Global Finance PLC | 6.250 | 10-30-25 | EUR | 100,000 | 125,525 |
EnLink Midstream LLC (C) | 5.625 | 01-15-28 | 91,000 | 92,955 | |
EQM Midstream Partners LP (C) | 6.000 | 07-01-25 | 15,000 | 16,425 | |
EQM Midstream Partners LP (C) | 6.500 | 07-01-27 | 15,000 | 16,891 | |
EQM Midstream Partners LP | 6.500 | 07-15-48 | 50,000 | 51,875 | |
Jagged Peak Energy LLC | 5.875 | 05-01-26 | 85,000 | 87,975 | |
Matador Resources Company | 5.875 | 09-15-26 | 105,000 | 102,900 | |
Occidental Petroleum Corp. | 2.900 | 08-15-24 | 5,000 | 4,813 | |
Occidental Petroleum Corp. | 3.000 | 02-15-27 | 85,000 | 75,650 | |
Occidental Petroleum Corp. | 3.400 | 04-15-26 | 20,000 | 19,068 | |
Occidental Petroleum Corp. | 4.200 | 03-15-48 | 121,000 | 98,464 | |
Occidental Petroleum Corp. | 4.400 | 04-15-46 | 29,000 | 25,272 | |
Occidental Petroleum Corp. | 5.500 | 12-01-25 | 20,000 | 20,852 | |
Occidental Petroleum Corp. | 6.125 | 01-01-31 | 20,000 | 21,404 | |
Ovintiv Exploration, Inc. | 5.375 | 01-01-26 | 25,000 | 26,823 | |
Petrobras Global Finance BV | 5.093 | 01-15-30 | 80,000 | 89,400 | |
Petrobras Global Finance BV | 5.600 | 01-03-31 | 50,000 | 57,465 | |
Petrobras Global Finance BV | 5.750 | 02-01-29 | 235,000 | 274,010 | |
Petrobras Global Finance BV | 6.900 | 03-19-49 | 50,000 | 63,375 | |
Petrobras Global Finance BV | 7.375 | 01-17-27 | 60,000 | 74,237 | |
Petroleos Mexicanos | 6.750 | 09-21-47 | 200,000 | 187,500 | |
Petroleos Mexicanos | 6.840 | 01-23-30 | 300,000 | 314,034 | |
SM Energy Company | 5.000 | 01-15-24 | 30,000 | 25,275 | |
Tallgrass Energy Partners LP (C) | 6.000 | 03-01-27 | 20,000 | 20,725 | |
Targa Resources Partners LP | 6.500 | 07-15-27 | 115,000 | 124,775 | |
Vine Oil & Gas LP (C) | 8.750 | 04-15-23 | 105,000 | 82,950 | |
Western Midstream Operating LP | 5.050 | 02-01-30 | 150,000 | 166,875 | |
Western Midstream Operating LP | 6.250 | 02-01-50 | 50,000 | 55,000 | |
YPF SA | 7.000 | 12-15-47 | 120,000 | 86,251 | |
Financials 2.0% | 3,074,482 | ||||
Banks 0.6% | |||||
Banca Monte dei Paschi di Siena SpA (5.375% to 1-18-23, then 5 Year Euro Swap Rate + 5.005%) | 5.375 | 01-18-28 | EUR | 100,000 | 105,323 |
Banco do Brasil SA | 4.625 | 01-15-25 | 200,000 | 217,690 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 26 |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Banks (continued) | |||||
Banco do Brasil SA (9.000% to 6-18-24, then 10 Year CMT + 6.362%) (G) | 9.000 | 06-18-24 | 200,000 | $222,500 | |
Credit Agricole SA (8.125% to 12-23-25, then 5 Year U.S. Swap Rate + 6.185%) (C)(G) | 8.125 | 12-23-25 | 250,000 | 303,750 | |
Capital markets 0.2% | |||||
Credit Suisse Group AG (5.250% to 2-11-27, then 5 Year CMT + 4.889%) (C)(G) | 5.250 | 02-11-27 | 200,000 | 211,500 | |
MSCI, Inc. (C) | 4.000 | 11-15-29 | 145,000 | 154,425 | |
Consumer finance 0.4% | |||||
Credit Acceptance Corp. (C) | 5.125 | 12-31-24 | 75,000 | 78,000 | |
Credit Acceptance Corp. | 6.625 | 03-15-26 | 70,000 | 74,550 | |
DAE Funding LLC (C) | 4.500 | 08-01-22 | 35,000 | 35,410 | |
DAE Funding LLC (C) | 5.000 | 08-01-24 | 65,000 | 66,625 | |
goeasy, Ltd. (C) | 5.375 | 12-01-24 | 95,000 | 98,800 | |
Navient Corp. | 6.500 | 06-15-22 | 55,000 | 58,203 | |
OneMain Finance Corp. | 4.000 | 09-15-30 | 60,000 | 62,257 | |
OneMain Finance Corp. | 5.375 | 11-15-29 | 85,000 | 95,625 | |
OneMain Finance Corp. | 6.125 | 03-15-24 | 5,000 | 5,463 | |
OneMain Finance Corp. | 6.875 | 03-15-25 | 60,000 | 69,675 | |
Diversified financial services 0.1% | |||||
AA Bond Company, Ltd. | 6.269 | 07-31-25 | GBP | 100,000 | 148,511 |
Insurance 0.4% | |||||
Acrisure LLC (C) | 7.000 | 11-15-25 | 155,000 | 161,363 | |
Acrisure LLC (C) | 8.125 | 02-15-24 | 72,000 | 76,227 | |
Acrisure LLC (C) | 10.125 | 08-01-26 | 75,000 | 86,063 | |
AssuredPartners, Inc. (C) | 5.625 | 01-15-29 | 45,000 | 46,969 | |
Genworth Holdings, Inc. | 4.800 | 02-15-24 | 5,000 | 4,675 | |
Genworth Holdings, Inc. | 4.900 | 08-15-23 | 75,000 | 70,875 | |
Genworth Holdings, Inc. | 6.500 | 06-15-34 | 50,000 | 48,500 | |
Genworth Holdings, Inc. | 7.200 | 02-15-21 | 30,000 | 29,925 | |
Genworth Holdings, Inc. | 7.625 | 09-24-21 | 20,000 | 20,300 | |
Thrifts and mortgage finance 0.3% | |||||
Genworth Mortgage Holdings, Inc. (C) | 6.500 | 08-15-25 | 125,000 | 135,313 | |
LD Holdings Group LLC (C) | 6.500 | 11-01-25 | 120,000 | 126,300 | |
MGIC Investment Corp. | 5.250 | 08-15-28 | 115,000 | 123,050 | |
Nationstar Mortgage Holdings, Inc. (C) | 5.125 | 12-15-30 | 70,000 | 73,165 | |
PennyMac Financial Services, Inc. (C) | 5.375 | 10-15-25 | 60,000 | 63,450 | |
Health care 1.3% | 2,019,002 | ||||
Health care equipment and supplies 0.1% | |||||
Constantin Investissement 3 SASU | 5.375 | 04-15-25 | EUR | 100,000 | 124,137 |
27 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Health care (continued) | |||||
Health care equipment and supplies (continued) | |||||
Hill-Rom Holdings, Inc. (C) | 4.375 | 09-15-27 | 80,000 | $84,516 | |
Health care providers and services 0.3% | |||||
Community Health Systems, Inc. (C) | 5.625 | 03-15-27 | 10,000 | 10,753 | |
Community Health Systems, Inc. (C) | 6.625 | 02-15-25 | 95,000 | 99,986 | |
Community Health Systems, Inc. (C) | 8.125 | 06-30-24 | 95,000 | 98,325 | |
HCA, Inc. | 3.500 | 09-01-30 | 160,000 | 169,923 | |
HCA, Inc. | 5.375 | 09-01-26 | 60,000 | 68,964 | |
HCA, Inc. | 5.625 | 09-01-28 | 10,000 | 11,813 | |
HCA, Inc. | 5.875 | 02-01-29 | 5,000 | 6,025 | |
HCA, Inc. | 7.500 | 11-15-95 | 45,000 | 58,725 | |
Life sciences tools and services 0.1% | |||||
Avantor Funding, Inc. (C) | 3.875 | 07-15-28 | EUR | 100,000 | 128,292 |
Pharmaceuticals 0.8% | |||||
Bausch Health Companies, Inc. (C) | 5.000 | 01-30-28 | 135,000 | 139,123 | |
Bausch Health Companies, Inc. (C) | 5.000 | 02-15-29 | 200,000 | 205,640 | |
Bausch Health Companies, Inc. (C) | 6.125 | 04-15-25 | 95,000 | 97,913 | |
Endo DAC (C) | 9.500 | 07-31-27 | 137,000 | 152,926 | |
Par Pharmaceutical, Inc. (C) | 7.500 | 04-01-27 | 105,000 | 113,925 | |
Teva Pharmaceutical Finance Netherlands II BV | 1.250 | 03-31-23 | EUR | 100,000 | 117,816 |
Teva Pharmaceutical Finance Netherlands III BV | 2.800 | 07-21-23 | 105,000 | 103,950 | |
Teva Pharmaceutical Finance Netherlands III BV | 6.750 | 03-01-28 | 200,000 | 226,250 | |
Industrials 1.4% | 2,125,922 | ||||
Aerospace and defense 0.2% | |||||
Bombardier, Inc. (C) | 6.125 | 01-15-23 | 90,000 | 87,975 | |
Bombardier, Inc. (C) | 7.875 | 04-15-27 | 60,000 | 55,166 | |
TransDigm, Inc. | 5.500 | 11-15-27 | 55,000 | 57,822 | |
TransDigm, Inc. (C) | 6.250 | 03-15-26 | 150,000 | 159,750 | |
Building products 0.1% | |||||
Advanced Drainage Systems, Inc. (C) | 5.000 | 09-30-27 | 25,000 | 26,260 | |
Builders FirstSource, Inc. (C) | 5.000 | 03-01-30 | 45,000 | 48,375 | |
CP Atlas Buyer, Inc. (C) | 7.000 | 12-01-28 | 40,000 | 41,500 | |
LBM Acquisition LLC (C) | 6.250 | 01-15-29 | 25,000 | 26,008 | |
Commercial services and supplies 0.4% | |||||
American Builders & Contractors Supply Company, Inc. (C) | 4.000 | 01-15-28 | 85,000 | 87,975 | |
APX Group, Inc. | 7.625 | 09-01-23 | 95,000 | 98,563 | |
Arena Luxembourg Finance Sarl (C) | 1.875 | 02-01-28 | EUR | 100,000 | 116,130 |
Clean Harbors, Inc. (C) | 4.875 | 07-15-27 | 49,000 | 51,122 | |
Scientific Games International, Inc. | 5.500 | 02-15-26 | EUR | 100,000 | 120,866 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 28 |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Commercial services and supplies (continued) | |||||
Stericycle, Inc. (C) | 3.875 | 01-15-29 | 10,000 | $10,275 | |
Stericycle, Inc. (C) | 5.375 | 07-15-24 | 90,000 | 93,798 | |
Electrical equipment 0.2% | |||||
Sensata Technologies BV (C) | 5.000 | 10-01-25 | 100,000 | 111,250 | |
Sensata Technologies BV (C) | 5.625 | 11-01-24 | 10,000 | 11,175 | |
Techem Verwaltungsgesellschaft 675 mbH (C) | 2.000 | 07-15-25 | EUR | 100,000 | 121,345 |
Machinery 0.2% | |||||
Meritor, Inc. (C) | 4.500 | 12-15-28 | 95,000 | 97,375 | |
Vertical Midco GmbH (C) | 4.375 | 07-15-27 | EUR | 100,000 | 128,593 |
Professional services 0.1% | |||||
La Financiere Atalian SASU | 4.000 | 05-15-24 | EUR | 100,000 | 112,331 |
La Financiere Atalian SASU (C) | 4.000 | 05-15-24 | EUR | 100,000 | 112,331 |
Trading companies and distributors 0.2% | |||||
Herc Holdings, Inc. (C) | 5.500 | 07-15-27 | 140,000 | 148,400 | |
Loxam SAS | 3.250 | 01-14-25 | EUR | 100,000 | 122,134 |
United Rentals North America, Inc. | 5.875 | 09-15-26 | 75,000 | 79,403 | |
Information technology 0.8% | 1,231,216 | ||||
IT services 0.3% | |||||
Black Knight InfoServ LLC (C) | 3.625 | 09-01-28 | 60,000 | 61,425 | |
Cardtronics, Inc. (C) | 5.500 | 05-01-25 | 10,000 | 10,338 | |
Presidio Holdings, Inc. (C) | 4.875 | 02-01-27 | 75,000 | 79,559 | |
Presidio Holdings, Inc. (C) | 8.250 | 02-01-28 | 60,000 | 66,150 | |
Tempo Acquisition LLC (C) | 6.750 | 06-01-25 | 180,000 | 186,039 | |
Semiconductors and semiconductor equipment 0.1% | |||||
Entegris, Inc. (C) | 4.625 | 02-10-26 | 145,000 | 150,438 | |
Software 0.3% | |||||
BY Crown Parent LLC (C) | 4.250 | 01-31-26 | 40,000 | 41,000 | |
CDK Global, Inc. (C) | 5.250 | 05-15-29 | 60,000 | 66,475 | |
Open Text Corp. (C) | 3.875 | 02-15-28 | 85,000 | 88,188 | |
Open Text Holdings, Inc. (C) | 4.125 | 02-15-30 | 70,000 | 74,466 | |
PTC, Inc. (C) | 3.625 | 02-15-25 | 15,000 | 15,420 | |
PTC, Inc. (C) | 4.000 | 02-15-28 | 20,000 | 20,963 | |
SS&C Technologies, Inc. (C) | 5.500 | 09-30-27 | 150,000 | 160,203 | |
Technology hardware, storage and peripherals 0.1% | |||||
Xerox Corp. | 4.375 | 03-15-23 | 140,000 | 147,000 | |
Xerox Corp. | 4.800 | 03-01-35 | 10,000 | 10,075 | |
Xerox Corp. | 6.750 | 12-15-39 | 35,000 | 37,513 | |
Xerox Holdings Corp. (C) | 5.000 | 08-15-25 | 15,000 | 15,964 |
29 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Materials 1.2% | $1,814,004 | ||||
Containers and packaging 0.7% | |||||
ARD Finance SA (5.000% Cash or 5.750% PIK) (C) | 5.000 | 06-30-27 | EUR | 195,000 | 244,861 |
Ardagh Packaging Finance PLC (C) | 2.125 | 08-15-26 | EUR | 105,000 | 128,391 |
Berry Global, Inc. (C) | 1.500 | 01-15-27 | EUR | 106,000 | 131,812 |
Berry Global, Inc. (C) | 5.625 | 07-15-27 | 35,000 | 37,636 | |
Crown European Holdings SA | 2.875 | 02-01-26 | EUR | 125,000 | 163,613 |
OI European Group BV (C) | 4.000 | 03-15-23 | 10,000 | 10,200 | |
Owens-Brockway Glass Container, Inc. (C) | 5.875 | 08-15-23 | 165,000 | 176,756 | |
Reynolds Group Issuer, Inc. (C) | 5.125 | 07-15-23 | 2,000 | 2,025 | |
Silgan Holdings, Inc. | 2.250 | 06-01-28 | EUR | 100,000 | 123,946 |
Trivium Packaging Finance BV | 3.750 | 08-15-26 | EUR | 100,000 | 125,525 |
Metals and mining 0.4% | |||||
Abja Investment Company PTE., Ltd. | 5.450 | 01-24-28 | 200,000 | 211,552 | |
Constellium SE | 4.250 | 02-15-26 | EUR | 125,000 | 155,570 |
FMG Resources August 2006 Pty, Ltd. (C) | 4.500 | 09-15-27 | 15,000 | 16,665 | |
Novelis Corp. (C) | 4.750 | 01-30-30 | 75,000 | 80,802 | |
Novelis Corp. (C) | 5.875 | 09-30-26 | 55,000 | 57,475 | |
Paper and forest products 0.1% | |||||
Flex Acquisition Company, Inc. (C) | 6.875 | 01-15-25 | 145,000 | 147,175 | |
Real estate 0.2% | 327,495 | ||||
Equity real estate investment trusts 0.2% | |||||
FelCor Lodging LP | 6.000 | 06-01-25 | 115,000 | 117,300 | |
Iron Mountain, Inc. (C) | 4.875 | 09-15-29 | 75,000 | 79,125 | |
VICI Properties LP (C) | 3.500 | 02-15-25 | 10,000 | 10,228 | |
VICI Properties LP (C) | 3.750 | 02-15-27 | 5,000 | 5,113 | |
VICI Properties LP (C) | 4.250 | 12-01-26 | 60,000 | 62,229 | |
VICI Properties LP (C) | 4.625 | 12-01-29 | 50,000 | 53,500 | |
Utilities 0.0% | 35,440 | ||||
Gas utilities 0.0% | |||||
AmeriGas Partners LP | 5.500 | 05-20-25 | 32,000 | 35,440 | |
Convertible bonds 0.4% | $652,235 | ||||
(Cost $551,106) | |||||
Communication services 0.0% | 52,541 | ||||
Entertainment 0.0% | |||||
Cinemark Holdings, Inc. (C) | 4.500 | 08-15-25 | 36,000 | 52,541 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 30 |
Rate (%) | Maturity date | Par value^ | Value | ||
Energy 0.1% | $132,869 | ||||
Oil, gas and consumable fuels 0.1% | |||||
Pioneer Natural Resources Company (C) | 0.250 | 05-15-25 | 100,000 | 132,869 | |
Health care 0.1% | 170,920 | ||||
Health care equipment and supplies 0.1% | |||||
Integra LifeSciences Holdings Corp. (C) | 0.500 | 08-15-25 | 76,000 | 83,632 | |
NuVasive, Inc. (C) | 0.375 | 03-15-25 | 90,000 | 87,288 | |
Industrials 0.1% | 57,399 | ||||
Machinery 0.1% | |||||
The Middleby Corp. (C) | 1.000 | 09-01-25 | 47,000 | 57,399 | |
Information technology 0.1% | 185,342 | ||||
Semiconductors and semiconductor equipment 0.1% | |||||
Microchip Technology, Inc. | 2.250 | 02-15-37 | 50,000 | 101,794 | |
Software 0.0% | |||||
Workday, Inc. | 0.250 | 10-01-22 | 50,000 | 83,548 | |
Real estate 0.0% | 53,164 | ||||
Equity real estate investment trusts 0.0% | |||||
Pebblebrook Hotel Trust | 1.750 | 12-15-26 | 50,000 | 53,164 | |
Term loans (H) 0.1% | $216,016 | ||||
(Cost $207,662) | |||||
Consumer staples 0.1% | 120,374 | ||||
Food products 0.1% | |||||
Froneri Lux FinCo SARL, 2020 EUR Term Loan (1 month EURIBOR + 2.625%) | 2.625 | 01-31-27 | EUR | 100,000 | 120,374 |
Financials 0.0% | 95,642 | ||||
Insurance 0.0% | |||||
HUB International, Ltd., 2018 Term Loan B (3 month LIBOR + 2.750%) | 2.965 | 04-25-25 | 97,500 | 95,642 | |
Shares | Value | ||||
Rights 0.0% | $8,871 | ||||
(Cost $9,079) | |||||
Repsol SA (Expiration Date: 1-13-21; Strike Price: EUR 0.29) (A) | 25,869 | 8,871 | |||
Rate (%) | Maturity date | Par value^ | Value | ||
Escrow certificates 0.0% | $750 | ||||
(Cost $194) | |||||
Texas Competitive Electric Holdings Company LLC (A)(E) | 11.500 | 10-01-20 | 500,000 | 750 | |
31 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Par value^ | Value | ||||
Short-term investments 1.0% | $1,500,000 | ||||
(Cost $1,500,000) | |||||
Repurchase agreement 1.0% | 1,500,000 | ||||
Goldman Sachs Tri-Party Repurchase Agreement dated 12-31-20 at 0.070% to be repurchased at $1,500,012 on 1-4-21, collateralized by $1,209,732 Federal Home Loan Mortgage Corp., 5.000% due 12-1-48 (valued at $1,349,655) and $162,798 Federal National Mortgage Association, 4.500% - 6.500% due 6-1-37 to 7-1-45 (valued at $180,345) | 1,500,000 | 1,500,000 |
Total investments (Cost $146,422,194) 97.0% | $151,386,439 | ||||
Other assets and liabilities, net 3.0% | 4,606,235 | ||||
Total net assets 100.0% | $155,992,674 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund unless otherwise indicated. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Currency Abbreviations | |
EUR | Euro |
GBP | Pound Sterling |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
CMT | Constant Maturity Treasury |
EURIBOR | Euro Interbank Offered Rate |
GDR | Global Depositary Receipt |
LIBOR | London Interbank Offered Rate |
NVDR | Non-Voting Depositary Receipt |
PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
(A) | Non-income producing security. |
(B) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
(C) | 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. |
(D) | Restricted security as to resale, excluding 144A securities. For more information on this security refer to the Notes to financial statements. |
(E) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
(F) | Non-income producing - Issuer is in default. |
(G) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
(H) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 32 |
Open contracts | Number of contracts | Position | Expiration date | Notional basis^ | Notional value^ | Unrealized appreciation (depreciation) |
Euro STOXX 50 Index Futures | 185 | Short | Mar 2021 | $(7,933,508) | $(8,023,183) | $(89,675) |
FTSE 100 Index Futures | 19 | Short | Mar 2021 | (1,688,645) | (1,668,077) | 20,568 |
MSCI EAFE Index Futures | 216 | Short | Mar 2021 | (22,595,207) | (23,012,640) | (417,433) |
$(486,540) |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual settlement date | Unrealized appreciation | Unrealized depreciation | ||
CAD | 110,000 | USD | 85,112 | SSB | 1/8/2021 | $1,307 | — |
EUR | 65,000 | USD | 77,188 | BNP | 1/8/2021 | 2,226 | — |
EUR | 34,000 | USD | 40,719 | SSB | 1/8/2021 | 821 | — |
GBP | 117,000 | USD | 156,469 | BNP | 1/8/2021 | 3,534 | — |
GBP | 15,000 | USD | 20,510 | GSI | 2/5/2021 | 7 | — |
USD | 8,204,357 | EUR | 6,746,000 | BNP | 3/17/2021 | — | $(50,293) |
USD | 2,915,395 | GBP | 2,177,000 | MSI | 3/17/2021 | — | (62,990) |
$7,895 | $(113,283) |
Derivatives Currency Abbreviations | |
CAD | Canadian Dollar |
EUR | Euro |
GBP | Pound Sterling |
USD | U.S. Dollar |
Derivatives Abbreviations | |
BNP | BNP Paribas |
GSI | Goldman Sachs International |
MSI | Morgan Stanley & Co. International PLC |
OTC | Over-the-counter |
SSB | State Street Bank and Trust Company |
33 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $146,422,194) | $151,386,439 |
Unrealized appreciation on forward foreign currency contracts | 7,895 |
Receivable for futures variation margin | 215,797 |
Foreign currency, at value (Cost $251,694) | 250,982 |
Collateral held at broker for futures contracts | 2,704,048 |
Collateral segregated at custodian for OTC derivative contracts | 92,867 |
Dividends and interest receivable | 1,098,176 |
Receivable for investments sold | 483,367 |
Other assets | 5,120 |
Total assets | 156,244,691 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 113,283 |
Due to custodian | 36,464 |
Payable for investments purchased | 32,461 |
Payable to affiliates | |
Accounting and legal services fees | 7,752 |
Trustees' fees | 98 |
Other liabilities and accrued expenses | 61,959 |
Total liabilities | 252,017 |
Net assets | $155,992,674 |
Net assets consist of | |
Paid-in capital | $179,371,460 |
Total distributable earnings (loss) | (23,378,786) |
Net assets | $155,992,674 |
Net asset value per share | |
Based on 12,223,813 shares of beneficial interest outstanding - unlimited number of shares authorized with $0.01 par value | $12.76 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Hedged Equity & Income Fund | 34 |
Investment income | |
Dividends | $5,727,828 |
Interest | 1,299,165 |
Less foreign taxes withheld | (402,821) |
Total investment income | 6,624,172 |
Expenses | |
Investment management fees | 1,457,503 |
Accounting and legal services fees | 26,304 |
Transfer agent fees | 19,974 |
Trustees' fees | 41,254 |
Custodian fees | 75,388 |
Printing and postage | 81,397 |
Professional fees | 72,952 |
Stock exchange listing fees | 23,750 |
Other | 16,561 |
Total expenses | 1,815,083 |
Less expense reductions | (10,965) |
Net expenses | 1,804,118 |
Net investment income | 4,820,054 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (17,433,536) |
Futures contracts | (4,210,997) |
Forward foreign currency contracts | (574,282) |
Written options | (37,601) |
Swap contracts | (29,462) |
(22,285,878) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 8,639,763 |
Futures contracts | (491,793) |
Forward foreign currency contracts | 84,712 |
Swap contracts | (12,955) |
8,219,727 | |
Net realized and unrealized loss | (14,066,151) |
Decrease in net assets from operations | $(9,246,097) |
35 | JOHN HANCOCK Hedged Equity & Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 12-31-20 | Year ended 12-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $4,820,054 | $7,213,124 |
Net realized loss | (22,285,878) | (3,818,837) |
Change in net unrealized appreciation (depreciation) | 8,219,727 | 19,708,663 |
Increase (decrease) in net assets resulting from operations | (9,246,097) | 23,102,950 |
Distributions to shareholders | ||
From earnings | (5,112,494) | (8,240,605) |
From tax return of capital | (11,169,625) | (10,129,197) |
Total distributions | (16,282,119) | (18,369,802) |
Fund share transactions | ||
Issued pursuant to Dividend Reinvestment Plan | — | 146,258 |
Total increase (decrease) | (25,528,216) | 4,879,406 |
Net assets | ||
Beginning of year | 181,520,890 | 176,641,484 |
End of year | $155,992,674 | $181,520,890 |
Share activity | ||
Shares outstanding | ||
Beginning of year | 12,223,813 | 12,213,964 |
Issued pursuant to Dividend Reinvestment Plan | — | 9,849 |
End of year | 12,223,813 | 12,223,813 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Hedged Equity & Income Fund | 36 |
Period ended | 12-31-20 | 12-31-19 | 12-31-18 | 12-31-17 | 12-31-16 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.85 | $14.46 | $17.64 | $16.84 | $16.78 |
Net investment income1 | 0.39 | 0.59 | 0.63 | 0.52 | 0.42 |
Net realized and unrealized gain (loss) on investments | (1.15) | 1.30 | (2.31) | 1.94 | 1.09 |
Total from investment operations | (0.76) | 1.89 | (1.68) | 2.46 | 1.51 |
Less distributions | |||||
From net investment income | (0.42) | (0.67) | (0.86) | (0.49) | (0.41) |
From net realized gain | — | — | (0.39) | (1.17) | (0.24) |
From tax return of capital | (0.91) | (0.83) | (0.25) | — | (0.85) |
Total distributions | (1.33) | (1.50) | (1.50) | (1.66) | (1.50) |
Anti-dilutive impact of repurchase plan | — | — | — | — | 0.052 |
Net asset value, end of period | $12.76 | $14.85 | $14.46 | $17.64 | $16.84 |
Per share market value, end of period | $11.44 | $14.91 | $13.08 | $17.41 | $15.72 |
Total return at net asset value (%)3,4 | (2.99) | 13.89 | (9.61) | 15.15 | 10.46 |
Total return at market value (%)3 | (13.37) | 26.41 | (17.16) | 21.74 | 19.66 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $156 | $182 | $177 | $215 | $206 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.18 | 1.15 | 1.14 | 1.13 | 1.15 |
Expenses including reductions | 1.18 | 1.14 | 1.13 | 1.13 | 1.14 |
Net investment income | 3.14 | 3.97 | 3.83 | 2.99 | 2.52 |
Portfolio turnover (%) | 117 | 125 | 96 | 93 | 43 |
1 | Based on average daily shares outstanding. |
2 | The repurchase plan was completed at an average repurchase price of $14.17 for 312,533 shares for the period ended 12-31-16. |
3 | Total return based on net asset value reflects changes in the fund’s net asset value during each period. Total return based on market value reflects changes in market value. Each figure assumes that distributions from income, capital gains and tax return of capital, if any, were reinvested. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
37 | JOHN HANCOCK Hedged Equity & Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
ANNUAL REPORT | JOHN HANCOCK Hedged Equity & Income Fund | 38 |
Total value at 12-31-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Communication services | $13,953,008 | $7,418,268 | $6,534,740 | — |
Consumer discretionary | 9,020,958 | 3,156,571 | 5,864,387 | — |
Consumer staples | 9,933,298 | 6,325,443 | 3,607,855 | — |
Energy | 8,038,840 | 4,059,993 | 3,978,847 | — |
Financials | 24,157,317 | 9,062,646 | 15,094,671 | — |
Health care | 11,778,258 | 7,767,517 | 4,010,741 | — |
Industrials | 11,012,530 | 2,640,210 | 8,372,320 | — |
Information technology | 16,113,257 | 10,801,688 | 5,311,569 | — |
Materials | 7,180,431 | 2,066,628 | 5,113,803 | — |
Real estate | 5,556,180 | 3,422,711 | 2,133,469 | — |
Utilities | 7,609,341 | 3,479,400 | 4,129,941 | — |
39 | JOHN HANCOCK Hedged Equity & Income Fund | ANNUAL REPORT |
Total value at 12-31-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Preferred securities | $2,045,912 | — | $2,045,912 | — |
Exchange-traded funds | 93,686 | $93,686 | — | — |
Other equity investments | 259,811 | — | — | $259,811 |
Foreign government obligations | 204,710 | — | 204,710 | — |
Corporate bonds | 22,051,030 | — | 22,051,030 | — |
Convertible bonds | 652,235 | — | 652,235 | — |
Term loans | 216,016 | — | 216,016 | — |
Rights | 8,871 | 8,871 | — | — |
Escrow certificates | 750 | — | — | 750 |
Short-term investments | 1,500,000 | — | 1,500,000 | — |
Total investments in securities | $151,386,439 | $60,303,632 | $90,822,246 | $260,561 |
Derivatives: | ||||
Assets | ||||
Futures | $20,568 | $20,568 | — | — |
Forward foreign currency contracts | 7,895 | — | $7,895 | — |
Liabilities | ||||
Futures | (507,108) | (507,108) | — | — |
Forward foreign currency contracts | (113,283) | — | (113,283) | — |
ANNUAL REPORT | JOHN HANCOCK Hedged Equity & Income Fund | 40 |
41 | JOHN HANCOCK Hedged Equity & Income Fund | ANNUAL REPORT |
December 31, 2020 | December 31, 2019 | |
Ordinary income | $5,112,494 | $8,240,605 |
Return of capital | 11,169,625 | 10,129,197 |
Total | $16,282,119 | $18,369,802 |
ANNUAL REPORT | JOHN HANCOCK Hedged Equity & Income Fund | 42 |
43 | JOHN HANCOCK Hedged Equity & Income Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Hedged Equity & Income Fund | 44 |
Risk | Statement of assets and liabilities location | Financial instruments location | Assets derivatives fair value | Liabilities derivatives fair value |
Equity | Receivable/payable for futures variation margin1 | Futures | $20,568 | $(507,108) |
Currency | Unrealized appreciation (depreciation) on forward foreign currency contracts | Forward foreign currency contracts | 7,895 | (113,283) |
$28,463 | $(620,391) |
1 | Reflects cumulative appreciation/depreciation on futures as disclosed in Fund's investments. Only the year end variation margin is separately disclosed on the Statement of assets and liabilities. |
45 | JOHN HANCOCK Hedged Equity & Income Fund | ANNUAL REPORT |
Statement of operations location - Net realized gain (loss) on: | |||||
Risk | Futures contracts | Forward foreign currency contracts | Written options | Swap contracts | Total |
Currency | — | $(574,282) | — | — | $(574,282) |
Credit | — | — | — | $(29,462) | (29,462) |
Equity | $(4,210,997) | — | $(37,601) | — | (4,248,598) |
Total | $(4,210,997) | $(574,282) | $(37,601) | $(29,462) | $(4,852,342) |
Statement of operations location - Change in net unrealized appreciation (depreciation) of: | ||||
Risk | Futures contracts | Forward foreign currency contracts | Swap contracts | Total |
Currency | — | $84,712 | — | $84,712 |
Credit | — | — | $(12,955) | (12,955) |
Equity | $(491,793) | — | — | (491,793) |
Total | $(491,793) | $84,712 | $(12,955) | $(420,036) |
ANNUAL REPORT | JOHN HANCOCK Hedged Equity & Income Fund | 46 |
Issuer, Description | Original acquisition date | Acquisition cost | Beginning share amount | Shares purchased | Shares sold | Ending share amount | Value as a percentage of net assets | Ending value |
Allstar Co-Invest LLC (LLC Interest) | 8-1-11 | $240,553 | 236,300 | — | — | 236,300 | 0.2% | $259,811 |
47 | JOHN HANCOCK Hedged Equity & Income Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Hedged Equity & Income Fund | 48 |
49 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 50 |
Payment Date | Income Distributions |
March 31, 2020 | $0.3760 |
June 30, 2020 | 0.3760 |
September 30, 2020 | 0.2900 |
December 31, 2020 | 0.2900 |
Total | $1.3320 |
51 | | |
| | 52 |
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P.O. Box 505000
Louisville, KY 40233
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53 | | |
Independent Trustees | ||
Name, year of birth Position(s) held with fund Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan, Born: 1945 | 2012 | 196 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | ||
Charles L. Bardelis,2 Born: 1941 | 2012 | 196 |
Trustee | ||
Director, Island Commuter Corp. (marine transport). Trustee of various trusts within the John Hancock Fund Complex (since 1988). | ||
James R. Boyle, Born: 1959 | 2015 | 196 |
Trustee | ||
Chief Executive Officer, Foresters Financial (since 2018); Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (2014-2018); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014–July 2014); Senior Executive Vice President, Manulife Financial, President and Chief Executive Officer, John Hancock (1999–2012); Chairman and Director, John Hancock Investment Management LLC, John Hancock Investment Management Distributors LLC, and John Hancock Variable Trust Advisers LLC (2005–2010). Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 196 |
Trustee | ||
Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). | ||
William H. Cunningham, Born: 1944 | 2011 | 196 |
Trustee | ||
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009–2014). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 196 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 54 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with fund Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2011 | 196 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Board of Directors, Association of Independent Colleges and Universities of Massachusetts (2014-2017); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996–2009); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | ||
James M. Oates,2 Born: 1946 | 2012 | 196 |
Trustee | ||
Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997–2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995–2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2004) and Chairperson of the Board (2005-2016) of various trusts within the John Hancock Fund Complex. | ||
Steven R. Pruchansky, Born: 1944 | 2011 | 196 |
Trustee and Vice Chairperson of the Board | ||
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | ||
Frances G. Rathke,2,* Born: 1960 | 2020 | 196 |
Trustee | ||
Director, Northern New England Energy Corporation (since 2017); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director, Audit Committee Chair and Compensation Committee Member, Planet Fitness (since 2016); Director, Citizen Cider, Inc. (high-end hard cider and hard seltzer company) (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015); Independent Financial Consultant, Frances Rathke Consulting (strategic and financial consulting services) (2001-2003); Chief Financial Officer and Secretary, Ben & Jerry’s Homemade, Inc. (1989-2000, including prior positions); Senior Manager, Coopers & Lybrand, LLC (independent public accounting firm) (1982-1989). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
55 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with fund Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Gregory A. Russo, Born: 1949 | 2011 | 196 |
Trustee | ||
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018) and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002); Chairman and Treasurer,Westchester County, New York, Chamber of Commerce (1986–1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989–1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990–1995). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
Non-Independent Trustees3 | ||
Name, year of birth Position(s) held with fund Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Andrew G. Arnott, Born: 1971 | 2017 | 196 |
President and Non-Independent Trustee | ||
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison, Born: 1963 | 2018 | 196 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
Principal officers who are not Trustees | |
Name, year of birth Position(s) held with fund Principal occupation(s) during past 5 years | Officer of the Trust since |
Charles A. Rizzo, Born: 1957 | 2011 |
Chief Financial Officer | |
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 56 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with fund Principal occupation(s) during past 5 years | Officer of the Trust since |
Salvatore Schiavone, Born: 1965 | 2011 |
Treasurer | |
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | |
Christopher (Kit) Sechler, Born: 1973 | 2018 |
Secretary and Chief Legal Officer | |
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2018); Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, various trusts within the John Hancock Fund Complex, John Hancock Investment Management LLC, and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2018–2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2016–2018); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016). |
1 | Mr. Bardelis, Mr. Burgess, Ms. Harrison and Ms. Rathke serve as Trustees for a term expiring in 2021; Mr. Arnott, Ms. Jackson, Mr. Oates and Mr. Pruchansky serve as Trustees for a term expiring in 2022; Mr. Boyle, Mr. Cunningham, Ms. Fey, Mr. McClellan and Mr. Russo serve as Trustees for a term expiring in 2023; Mr. Boyle has served as Trustee at various times prior to date listed in the table. |
2 | Member of the Audit Committee. |
3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain of its affiliates. |
* | Appointed as Independent Trustee effective as of September 15, 2020. |
57 | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
Charles L. Bardelis*
James R. Boyle
Peter S. Burgess
*William H. Cunningham
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
James M. Oates*
Frances G. Rathke*,1
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Gregg R. Thomas, CFA
You can also contact us: | ||
800-852-0218 | Regular mail: | Express mail: |
jhinvestments.com | Computershare P.O.Box 505000 Louisville,KY 40233 | Computershare 462 South 4th Street, Suite 1600 Louisville, KY 40202 |
ANNUAL REPORT | JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 58 |
Communications ETF
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our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice and
operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
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MF1469860 | P15A 12/20 |
ITEM 2. CODE OF ETHICS.
As of the end of the period, December 31, 2020, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Senior Financial Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Peter S. Burgess is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit Fees
The aggregate fees billed for professional services rendered by the principal accountant(s) for the audit of the registrant's annual financial statements or services that are normally provided by the accountant(s) in connection with statutory and regulatory filings or engagements amounted to $47,996 for the year ended December 31, 2020 and $47,279 for the year ended December 31, 2019.
(b) Audit-Related Services
The audit-related fees were $5 for the year ended December 31, 2020 and $5 for the fiscal period ended December 31, 2019, billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant ("control affiliates").
(c) Tax Fees
The aggregate fees billed for professional services rendered by the principal accountant(s) for the tax compliance, tax advice and tax planning ("tax fees") amounted to $3,914 for the years ended December 31, 2020 and 2019. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements.
(d) All Other Fees
The all other fees billed to the registrant for products and services provided by the principal accountant were $89 for the year ended December 31, 2020 and $84 and for the year ended December 31, 2019, billed to control affiliates for products and services provided by the principal accountant. The nature of the services comprising the all other fees consisted mainly of review of foreign tax withholding rates.
(e)(1) Audit Committee Pre-Approval Policies and Procedures:
The trust's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The trust's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided
by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre-approval by the Audit Committee.
All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.
(e)(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:
Audit-Related Fees, Tax Fees and All Other Fees:
There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.
(f)According to the registrant's principal accountant, for the fiscal period ended December 31, 2020, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.
(g)The aggregate non-audit fees billed by the registrant's accountant(s) for services rendered to the registrant and rendered to the registrant's control affiliates of the registrant were $1,433,666 for the year ended December 31, 2020 and $1,057,567 for the year ended December 31, 2019.
(h)The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant(s) to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant(s)' independence.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:
Peter S. Burgess - Chairman
Charles L. Bardelis
James M. Oates
Frances G. Rathke
ITEM 6. SCHEDULE OF INVESTMENTS.
(a)Not applicable.
(b)Not applicable.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED- END MANAGEMENT INVESTMENT COMPANIES.
See attached exhibit "Proxy Voting Policies and Procedures".
ITEM 8.
PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Information about the Wellington Management Company LLP ("Wellington Management") portfolio managers
Management Biographies
Below is a list of the portfolio managers who share joint responsibility for the day-to-day investment management of the Fund. It provides a brief summary of their business careers over the past five years. Information is provided as of December 31, 2020.
Gregg R. Thomas, CFA
Senior Managing Director and Director of Investment Strategy,
Wellington Management Company LLP since 2002
Joined Fund team since its inception (2011)
Roberto J. Isch, CFA
Managing Director and Research Manager,
Wellington Management Company LLP since 2012
Joined Fund team in 2019
Other Accounts the Portfolio Managers are Managing
The table below indicates for each portfolio manager information about the accounts over which the portfolio manager has day-to-day investment responsibility. All information on the number of accounts and total assets in the table is as of December 31, 2020. For purposes of the table, "Other Pooled Investment Vehicles" may include investment partnerships and group trusts, and "Other Accounts" may include separate accounts for institutions or individuals, insurance company general or separate accounts, pension funds and other similar institutional accounts.
PORTFOLIO | OTHER ACCOUNTS MANAGED BY THE PORTFOLIO MANAGER |
MANAGER NAME |
|
Gregg R. Thomas, | Other Registered Investment Companies: 11 accounts with total net assets of |
CFA | approximately $15,615 million. |
| Other Pooled Investment Vehicles: 16 accounts with total net assets of |
| approximately $2,904 million. |
| Other Accounts: 7 accounts with total net assets of approximately $5,484 million. |
|
|
Roberto J. Isch, CFA | Other Registered Investment Companies: 3 accounts with total net assets of |
| approximately $2,173 million |
| Other Pooled Investment Vehicles: 3 accounts with total net assets of |
| approximately$574 million. |
| Other Accounts: 3 accounts with total net assets of approximately $1,514 million. |
|
|
Conflicts of Interest. Individual investment professionals at Wellington Management manage multiple accounts for multiple clients. These accounts may include mutual funds, separate accounts (assets managed on behalf of institutions, such as pension funds, insurance companies, foundations, or separately managed account programs sponsored by financial intermediaries), bank common trust accounts, and hedge funds. The Fund's managers listed in the prospectus who are primarily responsible for the day-to-day management of the Fund ("Investment Professionals") generally manage accounts in several different investment styles. These accounts may have investment objectives, strategies, time horizons, tax considerations and risk profiles that differ from those of the Fund. The Investment Professionals make investment decisions for each account, including the Fund, based on the investment objectives, policies, practices, benchmarks, cash flows, tax and other relevant investment considerations
applicable to that account. Consequently, Investment Professionals may purchase or sell securities, including IPOs, for one account and not another account, and the performance of securities purchased for one account may vary from the performance of securities purchased for other accounts. Alternatively, these accounts may be managed in a similar fashion to the Fund and thus the accounts may have similar, and in some cases nearly identical, objectives, strategies and/or holdings to that of the Fund.
An Investment Professional or other investment professionals at Wellington Management may place transactions on behalf of other accounts that are directly or indirectly contrary to investment decisions made on behalf of the Fund, or make investment decisions that are similar to those made for the Fund, both of which have the potential to adversely impact the Fund depending on market conditions. For example, an investment professional may purchase a security in one account while appropriately selling that same security in another account. Similarly, an Investment Professional may purchase the same security for the Fund and one or more other accounts at or about the same time. In those instances the other accounts will have access to their respective holdings prior to the public disclosure of the Fund's holdings. In addition, some of these accounts have fee structures, including performance fees, which are or have the potential to be higher, in some cases significantly higher, than the fees Wellington Management receives for managing the Fund. Mr. Thomas also manages an account which pays performance allocations to Wellington Management or its affiliates. Because incentive payments paid by Wellington Management to the Investment Professionals are tied to revenues earned by Wellington Management and, where noted, to the performance achieved by the manager in each account, the incentives associated with any given account may be significantly higher or lower than those associated with other accounts managed by an Investment Professional. Therefore, portfolio managers and other investment team members have an incentive to favor accounts that have the potential to provide a higher incentive compensation for them as individuals. Wellington Management manages the conflict created by these incentive arrangements through policies on the allocation of investment opportunities, including the allocation of equity IPOs, as well as after- the-fact monitoring the review of client accounts to assess dispersion among accounts with similar mandates. Finally, the Investment Professionals may hold shares or investments in the other pooled investment vehicles and/or other accounts identified above.
Wellington Management's goal is to meet its fiduciary obligation to treat all clients fairly and provide high quality investment services to all of its clients. Wellington Management has adopted and implemented policies and procedures, including brokerage and trade allocation policies and procedures, which it believes address the conflicts associated with
managing multiple accounts for multiple clients. In addition, Wellington Management monitors a variety of areas, including compliance with primary account guidelines, the allocation of IPOs, and compliance with the firm's Code of Ethics, and places additional investment restrictions on investment professionals who manage hedge funds and certain other accounts. Furthermore, senior investment and business personnel at Wellington Management periodically review the performance of Wellington Management's investment professionals. Although Wellington Management does not track the time an investment professional spends on a single account, Wellington Management does periodically assess whether an investment professional has adequate time and resources to effectively manage the investment professional's various client mandates.
Compensation Wellington Management receives a fee based on the assets under management of the Fund as set forth in the Subadvisory Agreement between Wellington Management and the Adviser on behalf of the Fund. Wellington Management pays its investment professionals out of its total revenues, including the advisory fees earned with respect to the Fund. The following information relates to the fiscal year ended December 31, 2020. Wellington Management's compensation structure is designed to attract and retain high-caliber investment professional's necessary to deliver high quality investment management services to its clients. Wellington
Management's compensation of the Fund's manager listed in the Prospectus who is primarily responsible for the day-to-day management of the Fund (the "Investment Professional") includes a base salary. The base salary for each Investment Professional who is a partner (a "Partner") of Wellington Management Group LLP, the ultimate holding company of Wellington Management, is generally a fixed amount that is determined by the managing partners of Wellington Management Group LLP. The base salary for the other Investment Professional is determined by the Investment Professional's experience and performance in his role as an Investment Professional. Base salaries for Wellington Management's employees are reviewed annually and may be adjusted based on the recommendation of an Investment Professional's manager, using guidelines established by Wellington Management's Compensation Committee, which has final oversight responsibility for base salaries of employees of the firm. The Investment Professionals may also be eligible for bonus payments based on their overall contribution to Wellington Management's business operations. Senior management at Wellington Management may reward individuals as it deems appropriate based on other factors. Each Partner is eligible to participate in a Partner-funded tax qualified retirement plan, the contributions to which are made pursuant to an actuarial formula. Messr. Thomas is a Partner.
Share Ownership by Portfolio Managers. The following table indicates as of as of December 31, 2020, the value of shares beneficially owned by the portfolio managers in the Fund.
| Range of Beneficial |
Portfolio Manager | Ownership |
|
|
Gregg R. Thomas, CFA | $0 |
| |
Roberto J. Isch, CFA | $0 |
|
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
(a)Not applicable.
(b)REGISTRANT PURCHASES OF EQUITY SECURITIES
| Total |
| Total Number of Shares | Maximum Number | |
|
| Purchased as Part of | of Shares that May | ||
| Number of Shares | Average Price | Publicly Announced | Yet Be Purchased | |
Period | Purchased | per Share | Plans* | Under the Plans | |
Jan 20 | - | - | - | 1,222,381 | |
Feb 20 | 1,222,381 | ||||
- | - | - | |||
Mar 20 | 1,222,381 | ||||
- | - | - | |||
Apr 20 | 1,222,381 | ||||
- | - | - | |||
May 20 | 1,222,381 | ||||
- | - | - | |||
Jun 20 | 1,222,381 | ||||
- | - | - | |||
Jul 20 | 1,222,381 | ||||
- | - | - | |||
Aug 20 | 1,222,381 | ||||
- | - | - | |||
Sep 20 | 1,222,381 | ||||
- | - | - | |||
|
|
Oct 20 | - | - | - | |
Nov 20 | ||||
- | - | - | ||
Dec 20 | ||||
- | - | - | ||
Total | ||||
- | - |
| ||
|
|
*On December 6, 2011, the Board of Trustees approved a share repurchase plan which was subsequently reviewed by the Board of Trustees each year in December. Under the current share repurchase plan the fund may purchase in the open market, between January 1, 2021 and December 31, 2021, up to an additional 10% of its outstanding common shares (based on common shares outstanding as of December 31, 2020).
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
(a)The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached "John Hancock Funds – Nominating and Governance Committee Charter".
ITEM 11. 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-CSR, the registrant's principal executive officer and principal financial 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 period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. EXHIBITS.
(a)(1) Code of Ethics for Senior Financial Officers is attached.
1,222,381
1,222,381
1,222,381
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 Hedged Equity & Income Fund
By: /s/ Andrew Arnott
------------------------------
Andrew Arnott
President
Date: February 11, 2021
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/ Andrew Arnott
-------------------------------
Andrew Arnott
President
Date: February 11, 2021
By: /s/ Charles A. Rizzo
--------------------------------
Charles A. Rizzo
Chief Financial Officer
Date: February 11, 2021