N-Q 1 a_bondtrust.htm JOHN HANCOCK BOND TRUST a_bondtrust.htm
UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549 
 
FORM N-Q 
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED 
MANAGEMENT INVESTMENT COMPANIES 
 
Investment Company Act file number 811- 3006 
 
John Hancock Bond Trust 
(Exact name of registrant as specified in charter) 
 
601 Congress Street, Boston, Massachusetts 02210 
(Address of principal executive offices) (Zip code) 
 
Alfred P. Ouellette, Senior Counsel and Assistant Secretary 
 
601 Congress Street 
Boston, Massachusetts 02210 
 
(Name and address of agent for service) 
 
Registrant's telephone number, including area code: 617-663-4324 
 
Date of fiscal year end: May 31 
 
 
Date of reporting period:  August 31, 2008 

ITEM 1. SCHEDULE OF INVESTMENTS




John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)         (000)  Value 
 
Bonds 49.27%          $55,330,326 
(Cost $62,232,054)           
 
Agricultural Products 0.22%          250,857 
Bunge Ltd. Finance Corp.,           
   Gtd Sr Note  5.350%  04/15/14  BBB-         270  250,857 
 
Airlines 0.81%          905,061 
Continental Airlines, Inc.,           
   Pass Thru Ctf Ser 1999-1, Class A  6.545  02/02/19  A-         108  97,218 
Delta Air Lines, Inc.,           
   Sec Pass Thru Ctf Ser A  6.821  08/10/22  A-         351  287,493 
   Sr Pass Thru Ctf Ser 2002-1  6.417  07/02/12  AA         405  352,350 
Northwest Airlines, Inc.,           
   Gtd Collateralized Note Ser 07-1  7.027  11/01/19  BBB+         210  168,000 
 
Asset Management & Custody Banks 0.93%          1,040,478 
Rabobank Capital Fund II,           
   Perpetual Bond (5.260% to 12-31-13 then variable)           
   (S)  5.260  12/31/49  AA  1,130  1,040,478 
 
Brewers 0.21%          234,809 
Sabmiller PLC,           
   Note (S)  6.500  07/15/18  BBB+         235  234,809 
 
Broadcasting & Cable TV 0.99%          1,116,138 
Comcast Cable Communications Holdings, Inc.,           
   Sr Note  8.375  03/15/13  BBB+         750  828,406 
Time Warner Cable, Inc.,           
   Gtd Sr Note  6.750  07/01/18  BBB+         285  287,732 
 
Building Products 0.23%          254,977 
CRH America, Inc.,           
   Gtd Note  8.125  07/15/18  BBB+         250  254,977 
 
Casinos & Gaming 0.67%          749,977 
Harrah's Operating Co., Inc.,           
   Gtd Sr Note  5.500  07/01/10  B-         525  441,000 
Seminole Tribe of Florida,           
   Bond (S)  6.535  10/01/20  BBB         315  308,977 
 
Consumer Finance 1.15%          1,286,870 
American Express Credit Co.,           
   Sr Note Ser C  7.300  08/20/13  A+         360  365,704 
Ford Motor Credit Co., LLC,           
   Sr Note  7.375  10/28/09  B-         705  655,244 
SLM Corp.,           
   Sr Note Ser MTN  8.450  06/15/18  BBB-         290  265,922 
 
Data Processing & Outsourced Services 0.19%          218,497 
Fiserv, Inc.,           
   Gtd Sr Note  6.800  11/20/17  BBB         215  218,497 
 
Diversified Banks 1.46%          1,636,671 
Banco Mercantil del Norte SA,           
   Sub Note (S)  6.862  10/13/21  Baa1         330  306,339 

Page 1 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)         (000)  Value 
 
Diversified Banks (continued)           
Chuo Mitsui Trust & Banking Co., Ltd.,           
   Perpetual Sub Note (5.506% to 4-15-15 then           
   variable) (S)  5.506%  12/15/49  A2  370  $305,548 
Natixis,           
   Sub Bond (10.00% to 4-30-18 then variable) (S)  10.000  04/30/49  A  200  193,891 
Northern Trust Co.,           
   Sub Note  6.500  08/15/18  AA-  125  129,057 
Royal Bank of Scotland Group PLC,           
   Jr Sub Bond Ser MTN (7.640% to 9-29-17 then           
   variable)  7.640  03/31/49  A-  200  168,951 
Silicon Valley Bank,           
   Sub Note  6.050  06/01/17  BBB  295  254,761 
Wachovia Bank NA,           
   Sub Note Ser BKNT  6.600  01/15/38  A+  355  278,124 
 
Diversified Commercial & Professional Services 0.46%        511,119 
Hutchison Whampoa International Ltd.,           
   Gtd Sr Note (S)  6.500  02/13/13  A-  500  511,119 
 
Diversified Financial Services 2.54%          2,850,905 
American General Finance Corp.,           
   Note Ser MTN  6.900  12/15/17  A+  220  176,234 
Beaver Valley Funding,           
   Sec Lease Obligation Bond  9.000  06/01/17  BBB-  966  1,024,424 
CIT Group, Inc.,           
   Sr Note  5.650  02/13/17  A-  85  59,689 
   Sr Note  5.000  02/13/14  A-  55  39,603 
   Sr Note Ser MTN  5.125  09/30/14  A-  75  53,764 
ERAC USA Finance Co.,           
   Gtd Sr Note (S)  6.375  10/15/17  BBB  220  186,370 
General Electric Capital Corp.,           
   Sr Note  5.625  05/01/18  AAA  230  223,611 
Huntington Capital III,           
   Gtd Jr Sub Bond (6.650% to 5-15-17 then variable)  6.650  05/15/37  BBB-  290  139,096 
NiSource Finance Corp.,           
   Gtd Bond  6.800  01/15/19  BBB-  210  204,243 
QBE Capital Funding II LP,           
   Gtd Sub Bond (6.797% to 6-1-17 then variable) (S) 6.797    06/01/49  BBB  340  275,447 
Rio Tinto Finance (USA) Ltd.,           
   Gtd Note  6.500  07/15/18  BBB+  235  236,437 
SMFG Preferred Capital,           
   Sub Bond (6.078% to 1-25-17 then variable) (S)  6.078  01/25/49  BBB+  285  231,987 
 
Diversified Metals & Mining 0.17%          185,500 
Freeport-McMoRan Copper & Gold, Inc.,           
   Sr Note  8.375  04/01/17  BBB-  175  185,500 
 
Diversified Support Services 0.27%          301,376 
Ingersoll-Rand Global Holding Co., Ltd.  6.875  08/15/18  BBB+  300  301,376 
 
Drug Retail 0.59%          659,676 
CVS Caremark Corp.,           
   Jr Sub Bond (6.302% to 6-1-12 then variable)  6.302  06/01/37  BBB-  460  390,425 
   Sr Note  5.750  06/01/17  BBB+  275  269,251 

Page 2 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity Credit  Par value   
Issuer, description  rate  date rating (A)         (000)  Value 
 
Electric Utilities 2.63%          $2,952,787 
Abu Dhabi National Energy Co.,         
   Bond (S)  6.500%  10/27/36 AA-         465  407,430 
Constellation Energy Group,         
   Sr Note  4.550  06/15/15 BBB         520  462,063 
FPL Energy National Wind,         
   Sr Sec Note (S)  5.608  03/10/24 BBB-         218  214,064 
Israel Electric Corp., Ltd.,         
   Note (S)  7.250  01/15/19 BBB+         200  201,945 
Monterrey Power SA de CV,         
   Sr Sec Bond (S)  9.625  11/15/09 BBB+         388  413,217 
Nevada Power Co.,         
   Mtg Note Ser L  5.875  01/15/15 BBB         220  217,812 
Pepco Holdings, Inc.,         
   Note  6.450  08/15/12 BBB-         325  331,519 
Southern Power Co.,         
   Sr Note Ser D  4.875  07/15/15 BBB+         430  409,722 
Waterford 3 Funding Corp.,         
   Sec Lease Obligation Bond  8.090  01/02/17 BBB         293  295,015 
 
Electronic Equipment Manufacturers 0.55%          617,132 
Thomas & Betts Corp.,         
   Sr Note  7.250  06/01/13 BBB         480  491,751 
Tyco Electronics Group SA,         
   Gtd Sr Note (S)  6.550  10/01/17 BBB         125  125,381 
 
Health Care Distributors 0.17%          187,525 
Covidien International Finance SA,         
   Gtd Sr Note  6.000  10/15/17 A-         185  187,525 
 
Health Care Services 0.46%          517,505 
Humana, Inc.,         
   Sr Note  8.150  06/15/38 BBB         360  359,110 
UnitedHealth Group, Inc.,         
   Sr Note  5.500  11/15/12 A-         160  158,395 
 
Hotels, Resorts & Cruise Lines 0.20%          222,594 
Starwood Hotels & Resorts Worldwide, Inc.,         
   Sr Note  6.250  02/15/13 BBB-         235  222,594 
 
Insurance Brokers 0.11%          126,993 
Progressive Corp.,         
   Jr Sub Deb (6.70% to 6-1-17 then variable)  6.700  06/15/37 A-         155  126,993 
 
Integrated Telecommunication Services 1.45%          1,628,217 
AT&T Inc.,         
   Sr Note  6.400  05/15/38 A         235  224,540 
Bellsouth Corp.,         
   Sr Bond  6.550  06/15/34 A         250  241,884 
   Debenture  6.300  12/15/15 A         390  399,393 
Qwest Corp.,         
   Sr Note  7.875  09/01/11 BBB-         210  208,425 
Telecom Italia Capital,         
   Gtd Sr Note  7.721  06/04/38 BBB         365  355,938 

Page 3 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)         (000)  Value 
 
Integrated Telecommunication Services (continued)         
Verizon Communications, Inc.,           
   Sr Bond  6.900%  04/15/38  A         200  $198,037 
 
Investment Banking & Brokerage 2.06%          2,311,956 
Bear Stearns Cos., Inc.,           
   Sr Note  7.250  02/01/18  AA-         235  243,491 
BNP Paribas,           
   Jr Sub Note (7.195% to 6-25-37 then variable) (S)  7.195  06/29/49  AA-         135  117,838 
Citigroup, Inc.,           
   Jr Sub Bond (8.400% to 4-30-18 then variable)  8.400  04/29/49  A         365  309,892 
Goldman Sachs Group, Inc.,           
   Jr Sub Note  6.750  10/01/37  A+         235  206,765 
Jefferies Group, Inc.,           
   Sr Note  6.450  06/08/27  BBB+         145  111,554 
JPMorgan Chase & Co.,           
   Jr Sub Note Ser 1 (7.900% to 4-30-18 then variable) 7.900    04/29/49  A         315  286,177 
Merrill Lynch & Co., Inc.,           
   Jr Sub Bond  7.750  05/14/38  A-         235  210,952 
Mizuho Financial Group, Ltd.,           
   Gtd Sub Bond  8.375  12/29/49  Aa3         440  439,701 
Morgan Stanley,           
   Sr Note Ser F  6.625  04/01/18  A+         415  385,586 
 
Life & Health Insurance 0.54%          611,782 
Lincoln National Corp.,           
   Jr Sub Bond (6.050% to 4-20-17 then variable)  6.050  04/20/17  A-         120  94,096 
Prudential Financial, Inc.,           
   Sr Note Ser D  5.150  01/15/13  A+         350  343,154 
Symetra Financial Corp.,           
   Jr Sub Bond (8.300% to 10-15-17 then variable) (S) 8.300    10/15/37  BB         210  174,532 
 
Metal & Glass Containers 0.15%          171,048 
Commercial Metals Co.,           
   Sr Note  7.350  08/15/18  BBB         170  171,048 
 
Multi-Line Insurance 0.97%          1,088,993 
American International Group, Inc.,           
   Jr Sub Bond (8.175% to 5-15-38 then variable) (S)  8.175  05/15/58  A         195  150,614 
AXA SA,           
   Perpetual Sub Note (6.379% to 12-14-36 then           
   variable) (S)  6.379  12/14/49  BBB+         155  121,080 
Genworth Financial, Inc.,           
   Jr Sub Note (6.150% to 11-15-16 then variable)  6.150  11/15/66  BBB+         210  151,204 
Horace Mann Educators Corp.,           
   Sr Note  6.850  04/15/16  BBB         205  216,983 
Liberty Mutual Group,           
   Bond (S)  7.500  08/15/36  BBB         520  449,112 
 
Multi-Media 0.64%          720,045 
News America Holdings,           
   Gtd Sr Deb  9.500  07/15/24  BBB+         600  720,045 
 
Office Services & Supplies 0.30%          338,735 
Xerox Corp.,           
   Sr Note  6.750  02/01/17  BBB         335  338,735 

Page 4 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)         (000)  Value 
 
Oil & Gas Exploration & Production 0.16%          $183,978 
Petro-Canada,           
   Sr Note  6.050%  05/15/18  BBB         190  183,978 
 
Oil & Gas Storage & Transportation 1.61%          1,812,870 
Buckeye Parterns LP,           
   Sr Note  5.125  07/01/17  BBB         165  152,117 
Enterprise Products Operating LP,           
   Gtd Sr Note  6.500  01/31/19  BBB-         475  476,743 
NGPL PipeCo LLC,           
   Sr Note (S)  7.119  12/15/17  BBB-         270  272,602 
Plains All American Pipeline LP,           
   Sr Note (S)  6.500  05/01/18  BBB-         165  162,315 
Spectra Energy Capital LLC,           
   Gtd Sr Note  6.200  04/15/18  BBB         185  180,577 
TEPPCO Partners LP,           
   Gtd Sr Note  6.650  04/15/18  BBB-         565  568,516 
 
Paper Products 0.39%          438,746 
International Paper Co.,           
   Sr Note  7.950  06/15/18  BBB         240  243,850 
Plum Creek Timber Co., Inc.,           
   Gtd Note  5.875  11/15/15  BBB-         210  194,896 
 
Pharmaceuticals 0.34%          379,361 
Schering-Plough Corp.,           
   Sr Note  6.000  09/15/17  A-         385  379,361 
 
Property & Casualty Insurance 0.40%          444,490 
Chubb Corp.,           
   Sr Note  5.750  05/15/18  A         125  119,935 
Ohio Casualty Corp.,           
   Sr Note  7.300  06/15/14  BBB         320  324,555 
 
Publishing 0.28%          316,929 
New York Times Co.,           
   Sr Note  4.500  03/15/10  BBB-         330  316,929 
 
Railroads 0.25%          283,139 
Burlington Northern Santa Fe Corp.,           
   Sr Note  5.750  03/15/18  BBB         285  283,139 
 
Real Estate Management & Development 1.87%          2,096,143 
Chelsea Property Group,           
   Note  6.000  01/15/13  A-         385  378,309 
Health Care REIT, Inc.,           
   Sr Note  6.200  06/01/16  BBB-         245  227,934 
HRPT Properties Trust,           
   Sr Note  6.650  01/15/18  BBB         135  121,453 
Nationwide Health Properties, Inc.,           
   Note  6.500  07/15/11  BBB-         230  235,129 
Post Apartment Homes,           
   Sr Note  5.125  10/12/11  BBB         585  562,452 
ProLogis,           
   Sr Sec Note  6.625  05/15/18  BBB+         290  267,150 
Simon Property Group LP,           
   Sr Note  5.625  08/15/14  A-         320  303,716 

Page 5 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Regional Banks 0.46%          $520,287 
HSBC Capital Funding LP,           
   Perpetual Note (9.547% to 6-30-10 then variable)           
   (S)  9.547%  12/29/49  A  500  520,287 
 
Retail 0.19%          211,628 
Macy's Retail Holdings, Inc.,           
   Gtd Note  7.875  07/15/15  BBB-  210  211,628 
 
Specialized Finance 0.17%          189,000 
USB Realty Corp.,           
   Perpetual Bond (6.091% to 1-15-12 then variable)           
   (S)  6.091  12/22/49  A+  300  189,000 
 
Specialty Chemicals 0.20%          227,864 
Ecolab, Inc.,           
   Sr Note  4.875  02/15/15  A  230  227,864 
 
Thrifts & Mortgage Finance 20.64%          23,183,892 
American Home Mortgage Assets,           
   Mtg Pass Thru Ctf Ser 2006-6 Class XP IO  3.190  12/25/46  BBB  6,378  255,121 
   Mtg Pass Thru Ctf Ser 2007-5 Class XP IO  3.720  06/25/47  AAA  4,613  279,672 
American Home Mortgage Investment Trust,           
   Mtg Pass Thru Ser 2007-1 Class GIOP IO  2.078  05/25/47  AAA  3,732  207,616 
American Tower Trust,           
   Mtg Pass Thru Ctf Ser 2007-1A Class D (S)  5.957  04/15/37  BBB  420  375,178 
Banc of America Commercial Mortgage, Inc.,           
   Mtg Pass Thru Ctf Ser 2005-4 Class A5A  4.933  07/10/45  AAA  1,500  1,393,575 
   Mtg Pass Thru Ctf Ser 2005-6 Class A4 (P)  5.352  09/10/47  AAA  560  528,064 
   Mtg Pass Thru Ctf Ser 2006-3 Class A4  5.889  07/10/44  AAA  700  661,161 
Banc of America Funding Corp.,           
   Mtg Pass Thru Ctf Ser 2006-B Class 6A1 (P)  5.881  03/20/36  AAA  545  471,829 
   Mtg Pass Thru Ctf Ser 2007-E Class 4A1 (P)  5.852  09/01/47  AAA  264  230,426 
Bear Stearns Commercial Mortgage Securities, Inc.,           
   Mtg Pass Thru Ctf Ser 2006-PW14 Class D (S)  5.412  12/11/38  A  320  185,870 
Chaseflex Trust,           
   Mtg Pass Thru Ctf Ser 2005-2 Class 4A1  5.000  05/25/20  AAA  572  498,172 
Citigroup Mortgage Loan Trust, Inc.,           
   Mtg Pass Thru Ctf Ser 2005-10 Class 1A5A (P)  5.838  12/25/35  AAA  427  325,170 
   Mtg Pass Thru Ctf Ser 2005-5 Class 2A3  5.000  08/25/35  AAA  268  239,109 
Citigroup/Deutsche Bank Commercial Mortgage           
   Trust,           
   Mtg Pass Thru Ctf Ser 2005-CD1 Class C (P)  5.400  07/15/44  AA  185  138,032 
Commercial Mortgage,           
   Mtg Pass Thru Ctf Ser 2006-C7 Class A3 (S)  5.899  06/10/46  AAA  500  487,082 
Countrywide Alternative Loan Trust,           
   Mtg Pass Thru Ctf Ser 2005-59 Class 2X IO  3.188  11/20/35  AAA  4,948  170,087 
   Mtg Pass Thru Ctf Ser 2006-0A10 Class XPP IO  1.900  08/25/46  AAA  2,544  93,826 
   Mtg Pass Thru Ctf Ser 2006-0A8 Class X IO  4.079  07/25/46  AAA  4,852  164,496 
   Mtg Pass Thru Ctf Ser 2006-0A12 Class X IO  3.793  09/20/46  AAA  8,617  379,682 
Crown Castle Towers LLC,           
   Mtg Pass Thru Ctf Ser 2006-1A Class E (S)  6.065  11/15/36  Baa3  375  311,647 
DB Master Finance LLC,           
   Mtg Pass Thru Ctf Ser 2006-1 Class A2 (S)  5.779  06/20/31  AA  515  450,692 
Domino's Pizza Master Issuer LLC,           
   Mtg Pass Thru Ctf Ser 2007-1 Class A2 (S)  5.261  04/25/37  AA  495  414,927 

Page 6 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Thrifts & Mortgage Finance (continued)           
DSLA Mortgage Loan Trust,           
   Mtg Pass Thru Ctf Ser 2005-AR5 Class X2 IO  0.151%  08/19/45  AAA  4,758  $139,754 
First Horizon Alternative Mortgage Securities,           
   Mtg Pass Thru Ctf Ser 2004-AA5 Class B1 (P)  5.218  12/25/34  AA  777  446,870 
   Mtg Pass Thru Ctf Ser 2006-AA2 Class B1 (G) (P)  6.150  05/25/36  CCC  184  32,370 
Global Signal Trust,           
   Sub Bond Ser 2004-2A Class D (S)  5.093  12/15/14  Baa2  265  245,552 
   Sub Bond Ser 2006-1 Class E (S)  6.495  02/15/36  Baa3  235  218,513 
GMAC Commercial Mortgage Securities, Inc.,           
   Mtg Pass Thru Ctf Ser 2003-C2 Class B (P) 5.683  05/10/40  AAA  955  937,379 
GMAC Mortgage Corporation Loan Trust,           
   Mtg Pass Thru Ctf Ser 2006-AR1 Class 2A1 (P)  5.633  04/19/36  AAA  326  258,493 
Greenpoint Mortgage Funding Trust,           
   Mtg Pass Thru Ctf Ser 2005-AR1 Class A3 (P)  2.752  06/25/45  AAA  87  44,573 
   Mtg Pass Thru Ctf Ser 2005-AR4 Class 4A2 (P)  2.832  10/25/45  AAA  395  175,663 
   Mtg Pass Thru Ctf Ser 2006-AR1 Class A2A (P)  2.842  02/25/36  AAA  642  306,518 
Greenwich Capital Commercial Funding Corp.,           
   Mtg Pass Thru Ctf Ser 2007-GG9 Class C  5.554  03/10/39  AA  230  139,803 
   Mtg Pass Thru Ctf Ser 2007-GG9 Class F  5.633  03/10/39  A  130  59,605 
GSR Mortgage Loan Trust,           
   Mtg Pass Thru Ctf Ser 2004-9 Class B1 (G) (P)  4.525  08/25/34  AA  326  249,716 
   Mtg Pass Thru Ctf Ser 2006-AR1 Class 3A1 (P)  5.374  01/25/36  AAA  834  720,858 
HarborView Mortgage Loan Trust,           
   Mtg Pass Thru Ctf Ser 2005-8 Class 1X IO  3.069  09/19/35  AAA  3,497  77,595 
   Mtg Pass Thru Ctf Ser 2005-16 Class 2A1B (P)  2.796  01/19/36  AAA  215  96,458 
   Mtg Pass Thru Ctf Ser 2006-SB1 Class A1A (P)  3.929  12/19/36  AAA  449  259,378 
Indymac Index Mortgage Loan Trust,           
   Mtg Pass Thru Ctf Ser 2004-AR13 Class B1  5.296  01/25/35  AA  217  109,733 
   Mtg Pass Thru Ctf Ser 2005-AR18 Class 1X IO  2.960  10/25/36  AAA  7,222  162,505 
   Mtg Pass Thru Ctf Ser 2005-AR18 Class 2X IO  2.660  10/25/36  AAA  10,073  145,051 
   Mtg Pass Thru Ctf Ser 2005-AR5 Class B1 (P)  5.538  05/25/35  AA  291  140,879 
   Mtg Pass Thru Ctf Ser 2006-AR19 Class 1B1 (P)  6.363  08/25/36  B  234  21,275 
JPMorgan Chase Commercial Mortgage Security Corp.,         
   Mtg Pass Thru Ctf Ser 2005-LDP3 Class A4B  4.996  08/15/42  AAA  1,000  926,934 
   Mtg Pass Thru Ctf Ser 2005-LDP4 Class B  5.129  10/15/42  Aa2  1,000  710,845 
JPMorgan Mortgage Trust,           
   Mtg Pass Thru Ctf Ser 2005-S2 Class 2A16  6.500  09/25/35  AAA  458  416,475 
   Mtg Pass Thru Ctf Ser 2005-S3 Class 2A2  5.500  01/25/21  AAA  450  418,258 
   Mtg Pass Thru Ctf Ser 2006-A7 Class 2A5 (P)  5.801  01/25/37  Aa1  556  396,004 
Lehman XS Trust,           
   Mtg Pass Thru Ctf Ser 2005-5N Class 3A2 (P)  2.832  11/25/35  AAA  451  195,960 
   Mtg Pass Thru Ctf Ser 2005-7N Class 1A1B (P)  2.772  12/25/35  AAA  314  141,088 
   Mtg Pass Thru Ctf Ser 2006-2N Class 1A2 (P)  2.812  02/25/46  AAA  468  192,125 
Merrill Lynch/Countrywide Commercial Mtg. Trust,           
   Mtg Pass Thru Ctf Ser 2006-2 Class A4 (P) 6.104  06/12/46  AAA  735  698,023 
MLCC Mortgage Investors, Inc.,           
   Mtg Pass Thru Ctf Ser 2007-3 Class M1 (G) 5.943  09/25/37  AA  195  134,603 
   Mtg Pass Thru Ctf Ser 2007-3 Class M2 (G)  5.943  09/25/37  A  75  57,686 
   Mtg Pass Thru Ctf Ser 2007-3 Class M3 (G)  5.943  09/25/37  BBB  50  33,504 
Morgan Stanley Capital I,           
   Mtg Pass Thru Ctf Ser 2005-HQ7 Class A4 (P)  5.379  11/14/42  AAA  520  497,168 
   Mtg Pass Thru Ctf Ser 2006-IQ12 Class E  5.538  12/15/43  A+  310  192,010 
Provident Funding Mortgage Loan Trust,           
   Mtg Pass Thru Ctf Ser 2005-1 Class B1 (P) 4.829  05/25/35  AA  210  158,894 

Page 7 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Thrifts & Mortgage Finance (continued)           
Renaissance Home Equity Loan Trust,           
   Mtg Pass Thru Ctf Ser 2005-2 Class AF3  4.499%  08/25/35  AAA  246  $244,659 
   Mtg Pass Thru Ctf Ser 2005-2 Class AF4  4.934  08/25/35  AAA  420  391,601 
Residential Accredit Loans, Inc.,           
   Mtg Pass Thru Ctf Ser 2005-QA12 Class NB5 (P)  5.949  12/25/35  AAA  419  317,759 
Residential Asset Securitization Trust,           
   Mtg Pass Thru Ctf Ser 2006-A7CB Class 2A1  6.500  07/25/36  AAA  522  317,834 
Structured Asset Securities Corp.,           
   Mtg Pass Thru Ctf Ser 2003-6A Class B1 (P)  5.261  03/25/33  AA  334  250,269 
Washington Mutual, Inc.,           
   Mtg Pass Thru Ctf Ser 2005-6 Class 1CB  6.500  08/25/35  AAA  280  218,034 
   Mtg Pass Thru Ctf Ser 2005-AR4 Class 1A1B (P)  4.019  05/25/46  AAA  385  150,343 
   Mtg Pass Thru Ctf Ser 2005-AR4 Class B1 (P)  4.669  04/25/35  AA  962  651,645 
   Mtg Pass Thru Ctf Ser 2005-AR6 Class B1 (P)  3.072  04/25/45  AA+  582  291,064 
   Mtg Pass Thru Ctf Ser 2005-AR13 Class B1 (P)  3.072  10/25/45  AA+  522  259,808 
   Mtg Pass Thru Ctf Ser 2005-AR19 Class A1B3 (P)  2.822  12/25/45  AAA  151  78,572 
   Mtg Pass Thru Ctf Ser 2005-AR19 Class B1 (P)  3.172  12/25/45  AA+  301  120,441 
   Mtg Pass Thru Ctf Ser 2007-0A4 Class XPPP IO  0.870  04/25/47  Aaa  9,149  114,361 
   Mtg Pass Thru Ctf Ser 2007-0A5 Class 1XPP IO  0.690  06/25/47  Aaa  21,072  243,647 
   Mtg Pass Thru Ctf Ser 2007-0A5 Class 2XPP IO  0.990  06/25/47  AAA  24,336  235,751 
   Mtg Pass Thru Ctf Ser 2007-0A6 Class 1XPP IO  0.870  07/25/47  Aaa  12,096  136,081 
   Mtg Pass Thru Ctf Ser 2007-1 Class B1  6.199  02/25/37  BB  272  36,526 
Wells Fargo Mortgage Backed Securites Trust,           
   Mtg Pass Thru Ctf Ser 2004-7 Class 2A2  5.000  07/25/19  AAA  322  303,388 
   Mtg Pass Thru Ctf Ser 2006-AR15 Class A3 (P)  5.652  10/25/36  AAA  601  402,557 
 
Tobacco 0.32%          364,008 
Philip Morris International, Inc.,           
   Sr Note  5.650  05/16/18  A  370  364,008 
 
Wireless Telecommunication Services 0.87%          979,768 
America Movil SA de CV,           
   Sr Sec Note  5.750  01/15/15  BBB+  250  249,270 
Crown Castle Towers LLC,           
   Sub Bond Ser 2005-1A Class D (S)  5.612  06/15/35  Baa2  765  730,498 
 
Call Options 0.18%              $199,112 
(Cost $392,948)           
  Interest  Maturity    Par value   
  rate  date    (000)  Value 
 
Calls 0.18%          199,112 
U.S. Treasury  0.965  01/06/10    55,000  74,985 
U.S. Treasury  0.820  12/08/09    59,075  124,127 
 
 
                Credit     
Issuer, description               rating (A)  Shares  Value 
 
Preferred Stocks 0.25%              $277,728 
(Cost $319,375)           
 
Investment Banking & Brokerage 0.25%          277,728 
Merrill Lynch & Co., Inc.,           
   8.625%, Ser MER      BBB+  12,775  277,728 

Page 8 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)         (000)  Value 
 
U.S. Government & agency securities 46.32%          $52,025,924 
(Cost $51,883,706)           
 
U.S. Government 7.12%          7,996,228 
United States Treasury,           
   Bond (L)  5.000%  05/15/37  AAA  685  748,523 
   Inflation Indexed Note TIPS (D) (L)  2.000  07/15/14  AAA  412  428,156 
   Note (L)  5.125  05/15/16  AAA  945  1,046,071 
   Note (L)  4.875  05/15/16  AAA  450  482,660 
   Note (L)  3.875  05/15/18  AAA  5,260  5,290,818 
 
U.S. Government Agency 39.20%          44,029,696 
Federal Home Loan Mortgage Corp.,           
   30 Yr Pass Thru Ctf  6.000  08/15/32  AAA  1,649  1,670,270 
   30 Yr Pass Thru Ctf  6.000  08/01/37  AAA  2,726  2,757,674 
   30 Yr Pass Thru Ctf  6.000  05/01/38  AAA  1,590  1,604,881 
   30 Yr Pass Thru Ctf  6.000  08/01/38  AAA  2,475  2,497,084 
   30 Yr Pass Thru Ctf  5.500  07/01/38  AAA  1,930  1,903,988 
   30 Yr Pass Thru Ctf  5.500  07/01/38  AAA  2,079  2,050,678 
   Sr Note  4.500  01/15/15  AAA  130  131,307 
Federal National Mortgage Assn.,           
   15 Yr Pass Thru Ctf  5.500  11/01/20  AAA  1,201  1,216,020 
   15 Yr Pass Thru Ctf  5.000  07/01/23  AAA  1,159  1,149,441 
   30 Yr Adj Rate Pass Thru Ctf (P)  5.850  03/01/14  AAA  2  2,016 
   30 Yr Adj Rate Pass Thru Ctf (P)  5.850  06/01/14  AAA  11  10,951 
   30 Yr Pass Thru Ctf  6.500  07/01/36  AAA  250  257,529 
   30 Yr Pass Thru Ctf  6.500  09/01/36  AAA  1,129  1,162,699 
   30 Yr Pass Thru Ctf  6.500  02/01/37  AAA  1,851  1,905,669 
   30 Yr Pass Thru Ctf  6.000  09/01/36  AAA  1,740  1,760,897 
   30 Yr Pass Thru Ctf  6.000  09/01/36  AAA  323  327,314 
   30 Yr Pass Thru Ctf  6.000  07/01/37  AAA  1,648  1,666,627 
   30 Yr Pass Thru Ctf  6.000  01/01/38  AAA  353  356,598 
   30 Yr Pass Thru Ctf  5.500  01/01/36  AAA  1,056  1,044,948 
   30 Yr Pass Thru Ctf  5.500  02/01/36  AAA  2,176  2,153,614 
   30 Yr Pass Thru Ctf  5.500  02/01/37  AAA  2,136  2,112,319 
   30 Yr Pass Thru Ctf  5.500  05/01/37  AAA  1,753  1,733,470 
   30 Yr Pass Thru Ctf  5.500  07/01/37  AAA  1,461  1,444,573 
   30 Yr Pass Thru Ctf  5.500  09/01/37  AAA  794  784,957 
   30 Yr Pass Thru Ctf  5.500  06/01/38  AAA  2,335  2,307,271 
   30 Yr Pass Thru Ctf  5.500  07/01/38  AAA  1,261  1,246,079 
   30 Yr Pass Thru Ctf  5.000  11/01/33  AAA  2,158  2,089,016 
   30 Yr Pass Thru Ctf  5.000  08/01/35  AAA  810  781,798 
   30 Yr Pass Thru Ctf  5.000  03/01/38  AAA  1,334  1,282,519 
   30 Yr Pass Thru Ctf  5.000  03/01/38  AAA  2,536  2,437,812 
   Sr Note  5.125  04/15/11  AAA  1,190  1,239,232 
Government National Mortgage Assn.,           
   15 Yr Pass Thru Ctf  7.500  04/15/13  AAA  48  48,423 
SBA CMBS Trust,           
   Sub Bond Ser 2005-1A Class D (S)  6.219  11/15/35  Baa2  200  189,460 
   Sub Bond Ser 2005-1A Class E (S)  6.706  11/15/35  Baa3  110  103,204 
   Sub Bond Ser 2006-1A Class E (S)  6.174  11/15/35  Baa3  665  599,358 

Page 9 


John Hancock Investment Grade Bond Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

Short-term investments 11.95%        $13,417,533 
(Cost $13,417,533)       
    Par value   
Issuer, description    (000)  Value 
 
Joint Repurchase Agreement 3.44%      3,862,000 
Joint Repurchase Agreement with Barclays PLC dated 08-29-08 at       
   2.02% to be repurchased at $3,862,867 on 09/02/08, collateralized       
   by $3,377,173 U.S. Treasury Inflation Indexed Note, 2.50%, due       
   07/15/16 (valued at $3,939,240, including interest).    $3,862  3,862,000 
 
  Interest     
Issuer  rate  Shares  Value 
 
Cash Equivalents 8.51%      9,555,533 
John Hancock Cash Investment Trust (T) (W)  2.7293 (Y)  9,555,533  9,555,533 
 
Total investments (Cost $128,245,616)† 107.97%      $121,250,623 
 
Other assets and liabilities, net (7.97%)      ($8,945,347) 
 
Total net assets 100.00%      $112,305,276 

The percentage shown for each investment category is the total value of that category as a percentage of the net assets applicable to common shareholders.

Gtd Guaranteed

IO Interest only (carries notional principal amount)

MTN Medium-Term Note

TIPS Treasury inflation protected security

(A) Credit ratings are unaudited and are rated by Moody's Investors Service where Standard & Poor's ratings are not available unless indicated otherwise.

(D) Principal amount of security is adjusted for inflation.

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

(L) All or a portion of this security is on loan as of August 31, 2008.

(P) Variable rate obligation. The coupon rate shown represents the rate at period end.

(S) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $11,426,363 or 10.17% of the net assets of the Fund as of August 31, 2008.

(T) Represents investment of securities lending collateral.

(W) Issuer is an affiliate of John Hancock Advisers, LLC.

(Y) Represents current yield on August 31, 2008.

† At August 31, 2008, the aggregate cost of investment securities for federal income tax purposes was $128,594,665. Net unrealized depreciation aggregated $7,344,042, of which $1,184,805 related to appreciated investment securities and $8,528,847 related to depreciated investment securities.

The Fund had the following financial futures contracts open on August 31, 2008:

  NUMBER OF      UNREALIZED 
OPEN CONTRACTS  CONTRACTS  POSITION  EXPIRATION  DEPRECIATION 
U.S. 10-year Treasury Note  25  Long  Dec 2008  $18,424 

Page 10 


Notes to portfolio of investments

Security valuation

The net asset value of the shares of the Fund is determined daily as of the close of the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. Short-term debt investments that have a remaining maturity of 60 days or less are valued at amortized cost, and thereafter assume a constant amortization to maturity of any discount or premium, which approximates market value. All other securities held by the Fund are valued at the last sale price or official closing price (closing bid price or last evaluated quote if no sale has occurred) as of the close of business on the principal securities exchange (domestic or foreign) on which they trade or, lacking any sales, at the closing bid price. Securities traded only in the over-the-counter market are valued at the last bid price quoted by brokers making markets in the securities at the close of trading. Securities for which there are no such quotations, principally debt securities, are valued based on the evaluated prices provided by an independent pricing service, which utilizes both dealer-supplied and electronic data processing techniques, which take into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data.

Other assets and securities for which no such quotations are readily available are valued at fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees. Generally, trading in non-U.S. securities is substantially completed each day at various times prior to the close of trading on the NYSE. The values of such securities used in computing the net asset value of the Fund’s shares are generally determined as of such times. Occasionally, significant events that affect the values of such securities may occur between the times at which such values are generally determined and the close of the NYSE. Upon such an occurrence, these securities will be valued at fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees.

In deciding whether to make a fair value adjustment to the price of a security, the Board of Trustees or their designee may review a variety of factors, including developments in foreign markets, the performance of U.S. securities markets and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. The Fund may also fair value securities in other situations, for example, when a particular foreign market is closed, but the Fund is calculating the net asset value. In view of these factors, it is likely that a Fund investing significant amounts of assets in securities in foreign markets will be fair valued more frequently than a Fund investing significant amounts of assets in frequently traded, U.S. exchange listed securities of large-capitalization U.S. issuers.

For purposes of determining when fair value adjustments may be appropriate with respect to investments in securities in foreign markets that close prior to the NYSE, the Fund will, on an ongoing basis, monitor for “significant market events.” A significant market event may be a certain percentage change in the value of an index that tracks foreign markets in which the Fund has significant investments. If a significant market event occurs due to a change in the value of the index, the pricing for investments in foreign markets that have closed prior to the NYSE will promptly be reviewed and potential adjustments to the net asset value will be recommended to the Fund’s Pricing Committee where applicable.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity.


The Fund adopted Statement of Financial Accounting Standards No. 157 (FAS 157), Fair Value Measurements, effective with the beginning of the Fund’s fiscal year. FAS 157 established a three-tier hierarchy to prioritize the assumptions, referred to as inputs, used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.

Level 3 – Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable, such as when there is little or no market activity for an investment, unobservable inputs may be used. Unobservable inputs reflect the Fund’s own assumptions about the factors that market participants would use in pricing an investment and would be based on the best information available.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund’s net assets as of August 31, 2008:

  Investments in  Other Financial 
Valuation Inputs       Securities  Instruments* 
 
Level 1 – Quoted Prices  $9,833,262  ($18,424) 
Level 2 – Other Significant Observable Inputs  108,213,163  - 
Level 3 – Significant Unobservable Inputs  3,204,198  - 
Total  $121,250,623  ($18,424) 

* Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

  Investments  Other Financial 
  in Securities  Instruments 
Balance as of May 31, 2008  $3,701,324                                               - 
Accrued discounts/premiums  (520,150)                                               - 
Realized gain  6,751                                               - 
Change in unrealized appreciation  42,247                                               - 
Net sales  (25,974)                                               - 
Transfers in and/or out of Level 3  -                                               - 
Balance as of August 31, 2008  $3,204,198                                               - 


Joint repurchase agreement

Pursuant to an exemptive order issued by the Securities and Exchange Commission (SEC), the Fund, along with other registered investment companies having a management contract with John Hancock Advisers, LLC (the Adviser), a wholly owned subsidiary of John Hancock Financial Services, Inc., a subsidiary of Manulife Financial Corporation (MFC), may participate in a joint repurchase agreement transaction. Aggregate cash balances are invested in one or more large repurchase agreements, whose underlying securities are obligations of the U.S. government and/or its agencies. The Fund’s custodian bank receives delivery of the underlying securities for the joint account on the Fund’s behalf. When a Fund enters into a repurchase agreement, it receives delivery of collateral, the amount of which at the time of purchase and each subsequent business day is required to be maintained at such a level that the value is generally 102% of the repurchase amount.

Securities lending

The Fund may lend portfolio securities from time to time in order to earn additional income. The Fund retains beneficial ownership of the securities it has loaned and continues to receive interest and dividends paid by the issuer of securities and to participate in any changes in their value. On the settlement date of the loan, the Fund receives cash collateral against the loaned securities and maintains the cash collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required cash collateral is delivered to the Fund on the next business day. Cash collateral received is invested in the JHCIT. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. The Fund may receive compensation for lending their securities either in the form of fees, guarantees, and/or by retaining a portion of interest on the investment of any cash received as collateral.

The Fund has entered into an agreement with Morgan Stanley & Co., Inc. and MS Securities Services, Inc. (collectively, Morgan Stanley) which permits the Fund to lend securities to Morgan Stanley on a principal basis. Morgan Stanley is the primary borrower of securities of the Fund. The risk of having one primary borrower of Fund securities (as opposed to several borrowers in an agency relationship) is that should Morgan Stanley fail financially, all securities lent will be affected by the failure and by any delays in recovery of the securities (or in the rare event, loss of rights in the collateral).

Futures

The Fund may purchase and sell financial futures contracts and options on those contracts. The Fund invests in contracts based on financial instruments such as U.S. Treasury Bonds or Notes or on securities indices such as the Standard & Poor’s 500 Index, in order to hedge against a decline in the value of securities owned by the Fund.

Initial margin deposits required upon entering into futures contracts are satisfied by the delivery of specific securities or cash as collateral to the broker (the Fund’s agent in acquiring the futures position). If the position is closed out by an opposite position prior to the settlement date of the futures contract, a final determination of variation margin is made, cash is required to be paid to or released by the broker and the Fund realizes a gain or loss.

When the Fund sells a futures contract based on a financial instrument, the Fund becomes obligated to deliver that kind of instrument at an agreed upon date for a specified price. The Fund realizes a gain or loss depending on whether the price of an offsetting purchase is less or more than the price of the initial sale or on whether the price of an offsetting sale is more or less than the price of the initial purchase. The Fund could be exposed to risks if it could not close out futures positions because of an illiquid secondary market or the inability of counterparties to meet the terms of their contracts. Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade.


Options

The Fund may purchase and sell put and call options on securities (whether or not it holds the securities in its portfolio).

When the Fund writes a put or call option, an amount equal to the premium received by the Fund is recorded as a liability and is subsequently “marked-to-market” to reflect the current market value of the option written. If an option expires or if the Fund enters into an offsetting purchase option, the Fund realizes a gain (or loss if the cost of an offsetting purchase option exceeds the premium received when the option was written). If a written call option is exercised, the Fund realizes a gain or loss from the sale of the underlying security with the proceeds of the sale increased by the premium originally received. If a written put option is exercised, the amount of the premium originally received reduces the cost of the security that the Fund purchases upon exercise of the option.

When the Fund purchases a put or call option, the premium paid by the Fund is included in the Portfolio of Investments and subsequently “marked-to-market” to reflect the current market value of the option. If the purchased option expires, the Fund realizes a loss for the cost of the option. If the Fund enters into a closing sale transaction, the Fund realizes a gain or loss, depending on whether proceeds from the closing sale transaction are greater or less than the original cost of the option. If the Fund exercises a call option, the cost of the securities acquired by exercising the call is increased by the premium paid to buy the call. If the Fund exercises a put option, it realizes a gain or loss from the sale of the underlying security and the proceeds from such sale are decreased by the premium originally paid.

The Fund may use options to manage exposure to fluctuations in currency values. Writing puts and buying calls may increase the Fund’s exposure to the underlying instrument. Buying puts and writing calls may decrease the Fund’s exposure to the underlying instrument. Losses may arise from changes in the value of the underlying instruments, if there is an illiquid secondary market for the contracts or if the counterparties do not perform under the terms of the contract.






John Hancock Government Income Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Bonds 3.52%              $12,379,360 
(Cost $14,495,844)           
 
Thrifts & Mortgage Finance 3.52%          12,379,360 
American Home Mortgage Assets,           
   Mtg Pass Thru Ctf Ser 2007-5 Class XP IO  3.722%  06/25/47  AAA  14,075  853,321 
American Home Mortgage Investment Trust,           
   Mtg Pass Thru Ser 2007-1 Class GIOP IO  2.078  05/25/47  AAA  10,955  609,357 
Banc of America Funding Corp.,           
   Mtg Pass Thru Ctf Ser 2007-E Class 4A1 (P)  5.852  07/20/47  AAA  816  712,881 
Countrywide Alternative Loan Trust,           
   Mtg Pass Thru Ctf Ser 2005-59 Class 2X IO  3.188  11/20/35  AAA  11,171  384,007 
Greenpoint Mortgage Funding Trust,           
   Mtg Pass Thru Ctf Ser 2005-AR4 Class 4A2 (P)  2.832  10/25/45  AAA  1,198  532,406 
   Mtg Pass Thru Ctf Ser 2006-AR1 Class A2A (P)  2.842  02/25/36  AAA  1,940  926,999 
   Mtg Pass Thru Ctf Ser 2005-AR1 Class A3 (P)  2.752  06/25/45  AAA  262  134,307 
HarborView Mortgage Loan Trust,           
   Mtg Pass Thru Ctf Ser 2006-SB1 Class A1A (P)  3.929  12/19/36  AAA  1,357  784,119 
   Mtg Pass Thru Ctf Ser 2005-16 Class 2A1B (P)  2.796  01/19/36  AAA  650  291,741 
Indymac Index Mortgage Loan Trust,           
   Mtg Pass Thru Ctf Ser 2005-AR18 Class 1X IO  2.961  10/25/36  AAA  22,840  513,892 
   Mtg Pass Thru Ctf Ser 2005-AR18 Class 2X IO  2.661  10/25/36  AAA  23,703  341,317 
Lehman XS Trust,           
   Mtg Pass Thru Ctf Ser 2005-5N Class 3A2 (P)  2.832  11/25/35  AAA  1,478  642,427 
   Mtg Pass Thru Ctf Ser 2006-2N Class 1A2 (P)  2.812  02/25/46  AAA  3,019  1,238,757 
   Mtg Pass Thru Ctf Ser 2005-7N Class 1A1B (P)  2.772  12/25/35  AAA  953  427,814 
Residential Asset Securitization Trust,           
   Mtg Pass Thru Ctf Ser 2006-A7CB Class 2A1  6.500  07/25/36  AAA  1,463  889,934 
Washington Mutual, Inc.,           
   Mtg Pass Thru Ctf Ser 2007-0A5 Class 2XPP IO  0.992  06/25/47  AAA  75,181  728,315 
   Mtg Pass Thru Ctf Ser 2005-AR4 Class 1A1B (P)  4.019  05/25/46  AAA  1,199  467,431 
   Mtg Pass Thru Ctf Ser 2005-AR6 Class B1 (P)  3.072  04/25/45  AA+  1,735  867,410 
   Mtg Pass Thru Ctf Ser 2005-AR13 Class B1 (P)  3.072  10/25/45  AA+  1,583  788,381 
   Mtg Pass Thru Ctf Ser 2005-AR19 Class A1B3 (P)  2.822  12/25/45  AAA  469  244,544 
 
Options purchased 0.18%              $609,413 
(Cost $1,219,692)           
 
  Interest  Maturity    Par value   
Issuer  rate  date    (000  Value 
 
Calls 0.18%          609,413 
U.S. Treasury  0.965  01/06/10    180,000  245,405 
U.S. Treasury  0.820  12/08/09    173,240  364,008 
 
  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
U.S. Government & agency securities 91.90%                  $323,006,644 
(Cost $322,942,600)           
 
U.S. Government 17.22%              60,511,437 
United States Treasury,           
   Bond (L)  9.000  11/15/18  AAA  5,000  7,079,295 
   Bond (L)  8.750  08/15/20  AAA  6,065  8,650,679 
   Bond (L)  5.000  05/15/37  AAA  2,000  2,185,468 
   Inflation Indexed Note TIPS (D)(L)  3.875  04/15/29  AAA  1,563  2,005,039 
   Inflation Indexed Note TIPS (D)(L)  2.375  04/15/11  AAA  3,086  3,197,146 

Page 1 


John Hancock Government Income Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
U.S. Government (continued)                
   Note (L)  5.500%  05/15/09  AAA  2,700  2,763,493 
   Note (L)  4.500  05/15/17  AAA  7,500  7,941,795 
   Note (L)  4.250  11/15/14  AAA  10,000  10,585,160 
   Note (L)  3.875  05/15/18  AAA  5,000  5,029,295 
   Note (L)  1.875  07/15/13  AAA  10,719  11,074,067 
 
U.S. Government Agency 74.68%              262,495,207 
Federal Home Loan Bank,           
   Bond  3.625  12/17/10  AAA  5,000  5,038,715 
Federal Home Loan Mortgage Corp.,           
   15 Yr Pass Thru Ctf  7.500  11/01/12  AAA  238  248,779 
   15 Yr Pass Thru Ctf  5.500  10/01/19  AAA  851  866,420 
   30 Yr Pass Thru Ctf  9.500  08/01/16  AAA  423  466,625 
   30 Yr Pass Thru Ctf  6.000  08/15/32  AAA  4,405  4,463,218 
   30 Yr Pass Thru Ctf  6.000  05/01/37  AAA  545  550,587 
   30 Yr Pass Thru Ctf  6.000  08/01/37  AAA  10,041  10,156,425 
   30 Yr Pass Thru Ctf  5.500  07/01/38  AAA  3,729  3,678,435 
   30 Yr Pass Thru Ctf  5.500  07/01/38  AAA  3,458  3,410,494 
Federal National Mortgage Assn.,           
   15 Yr Pass Thru Ctf  9.000  02/01/10  AAA  8  8,525 
   15 Yr Pass Thru Ctf  7.500  01/01/15  AAA  228  239,356 
   15 Yr Pass Thru Ctf  5.500  11/01/20  AAA  5,910  5,985,582 
   15 Yr Pass Thru Ctf  5.000  05/01/23  AAA  20,823  20,651,732 
   15 Yr Pass Thru Ctf  5.000  06/01/23  AAA  13,276  13,166,165 
   30 Yr Pass Thru Ctf  8.500  09/01/24  AAA  16  17,094 
   30 Yr Pass Thru Ctf  8.500  10/01/24  AAA  206  223,895 
   30 Yr Pass Thru Ctf  6.500  12/25/23  AAA  5,032  5,242,128 
   30 Yr Pass Thru Ctf  6.500  07/01/36  AAA  3,971  4,091,347 
   30 Yr Pass Thru Ctf  6.500  02/01/37  AAA  8,005  8,239,867 
   30 Yr Pass Thru Ctf  6.500  07/01/37  AAA  9,462  9,739,653 
   30 Yr Pass Thru Ctf  6.500  08/01/37  AAA  3,152  3,244,068 
   30 Yr Pass Thru Ctf  6.000  01/01/34  AAA  1,374  1,395,988 
   30 Yr Pass Thru Ctf  6.000  10/01/35  AAA  1,599  1,620,145 
   30 Yr Pass Thru Ctf  6.000  09/01/36  AAA  5,749  5,818,616 
   30 Yr Pass Thru Ctf  6.000  07/01/37  AAA  3,045  3,079,250 
   30 Yr Pass Thru Ctf  6.000  08/01/37  AAA  7,196  7,277,681 
   30 Yr Pass Thru Ctf  6.000  01/01/38  AAA  9,183  9,281,053 
   30 Yr Pass Thru Ctf  5.500  01/01/36  AAA  2,941  2,911,187 
   30 Yr Pass Thru Ctf  5.500  01/01/37  AAA  9,250  9,148,561 
   30 Yr Pass Thru Ctf  5.500  02/01/37  AAA  18,884  18,676,336 
   30 Yr Pass Thru Ctf  5.500  04/01/37  AAA  9,665  9,555,444 
   30 Yr Pass Thru Ctf  5.500  05/01/37  AAA  6,782  6,705,434 
   30 Yr Pass Thru Ctf  5.500  06/01/37  AAA  7,554  7,468,560 
   30 Yr Pass Thru Ctf  5.500  06/01/37  AAA  9,662  9,552,524 
   30 Yr Pass Thru Ctf  5.500  06/01/37  AAA  9,412  9,305,431 
   30 Yr Pass Thru Ctf  5.500  09/01/37  AAA  7,268  7,185,934 
   30 Yr Pass Thru Ctf  5.500  12/01/37  AAA  5,630  5,562,954 
   30 Yr Pass Thru Ctf  5.500  06/01/38  AAA  18,507  18,285,990 
   30 Yr Pass Thru Ctf  5.500  07/01/38  AAA  3,953  3,905,694 
   30 Yr Pass Thru Ctf  5.000  11/01/33  AAA  12,593  12,191,999 
   30 Yr Pass Thru Ctf  5.000  03/01/38  AAA  4,062  3,904,769 
   30 Yr Pass Thru Ctf  5.000  03/01/38  AAA  8,611  8,278,104 
Government National Mortgage Assn.,           
   15 Yr Pass Thru Ctf  7.500  04/15/13  AAA  257  258,478 

Page 2 


John Hancock Government Income Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
U.S. Government Agency (continued)           
   30 Yr Pass Thru Ctf  11.000%  01/15/14  AAA  53  59,550 
   30 Yr Pass Thru Ctf  11.000  12/15/15  AAA  319  363,168 
   30 Yr Pass Thru Ctf  7.000  05/15/29  AAA  922  973,247 
 
Short-term investments 21.88%              $76,898,643 
(Cost $76,898,643)           
 
Joint Repurchase Agreement 4.11%          14,458,000 
Joint Repurchase Agreement with Barclays PLC           
   dated 8-29-08 at 2.02% to be repurchased at           
   $14,461,245 on 9-2-08, collateralized by           
   $12,642,975 U.S. Treasury Inflation Indexed Note,           
   2.50%, due 7-15-16 (valued at $14,747,160,           
   including interest).        14,458  14,458,000 
 
  Interest         
  rate      Shares   
 
Cash Equivalents 17.77%          62,440,643 
John Hancock Cash Investment Trust (T) (W)  2.7293% (Y)    62,440,643  62,440,643 
 
Total investments (Cost $415,556,779)† 117.48%          $412,894,060 
 
Other assets and liabilities, net (17.48%)          ($61,424,247) 
 
Total net assets 100.00%              $351,469,813 

The percentage shown for each investment category is the total value of that category as a percentage of the net assets applicable to common shareholders.

IO Interest only (carries notional principal amount)

TIPS Treasury inflation protected security

(A) Credit ratings are unaudited and are rated by Moody’s Investors Service where Standard & Poor’s ratings are not available unless indicated otherwise.

(D) Principal amount of security is adjusted for inflation.

(L) All or a portion of this security is on loan as of August 31, 2008.

(P) Variable rate obligation. The coupon rate shown represents the rate at period end.

(T) Represents investment of securities lending collateral.

(W) Issuer is an affiliate of John Hancock Advisers, LLC.

(Y) Represents current yield on August 31, 2008

† At August 31, 2008, the aggregate cost of investment securities for federal income tax purposes was $416,353,931. Net unrealized depreciation aggregated $3,459,871, of which $3,189,239 related to appreciated investment securities and $6,649,110 related to depreciated investment securities.

The Fund had the following financial futures contracts open on August 31, 2008:

  NUMBER OF      UNREALIZED 
OPEN CONTRACTS  CONTRACTS  POSITION  EXPIRATION  DEPRECIATION 
U.S. 10-year Treasury Note  1,324  Long  DEC 2008  $294,776 

Page 3 


Notes to portfolio of investments

Security valuation

The net asset value of common shares of the Fund is determined daily as of the close of the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. Short-term debt investments that have a remaining maturity of 60 days or less are valued at amortized cost, and thereafter assume a constant amortization to maturity of any discount or premium, which approximates market value. Investments in John Hancock Cash Investment Trust (JHCIT), an affiliate of John Hancock Advisers, LLC (the Adviser), a wholly owned subsidiary of John Hancock Financial Services, Inc., a subsidiary of Manulife Financial Corporation (MFC), are valued at their net asset value each business day. All other securities held by the Fund are valued at the last sale price or official closing price (closing bid price or last evaluated quote if no sale has occurred) as of the close of business on the principal securities exchange (domestic or foreign) on which they trade or, lacking any sales, at the closing bid price. Securities traded only in the over-the-counter market are valued at the last bid price quoted by brokers making markets in the securities at the close of trading. Securities for which there are no such quotations, principally debt securities, are valued based on the evaluated prices provided by an independent pricing service, which utilizes both dealer-supplied and electronic data processing techniques, which take into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data.

Other assets and securities for which no such quotations are readily available are valued at fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees. Generally, trading in non-U.S. securities is substantially completed each day at various times prior to the close of trading on the NYSE. The values of such securities used in computing the net asset value of the Fund’s shares are generally determined as of such times. Occasionally, significant events that affect the values of such securities may occur between the times at which such values are generally determined and the close of the NYSE. Upon such an occurrence, these securities will be valued at fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees.

In deciding whether to make a fair value adjustment to the price of a security, the Board of Trustees or their designee may review a variety of factors, including developments in foreign markets, the performance of U.S. securities markets and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. The Fund may also fair value securities in other situations, for example, when a particular foreign market is closed, but the Fund is calculating the net asset value. In view of these factors, it is likely that a Fund investing significant amounts of assets in securities in foreign markets will be fair valued more frequently than a Fund investing significant amounts of assets in frequently traded, U.S. exchange listed securities of large-capitalization U.S. issuers.

For purposes of determining when fair value adjustments may be appropriate with respect to investments in securities in foreign markets that close prior to the NYSE, the Fund will, on an ongoing basis, monitor for “significant market events.” A significant market event may be a certain percentage change in the value of an index that tracks foreign markets in which the Fund has significant investments. If a significant market event occurs due to a change in the value of the index, the pricing for investments in foreign markets that have closed prior to the NYSE will promptly be reviewed and potential adjustments to the net asset value will be recommended to the Fund’s Pricing Committee where applicable.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity.


The Fund adopted Statement of Financial Accounting Standards No. 157 (FAS 157), Fair Value Measurements, effective with the beginning of the Fund’s fiscal year. FAS 157 established a three-tier hierarchy to prioritize the assumptions, referred to as inputs, used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.

Level 3 – Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable, such as when there is little or no market activity for an investment, unobservable inputs may be used. Unobservable inputs reflect the Fund’s own assumptions about the factors that market participants would use in pricing an investment and would be based on the best information available.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund’s net assets as of August 31, 2008:

  Investments in  Other Financial 
Valuation Inputs  Securities  Instruments* 
 
Level 1 – Quoted Prices  $62,440,643  ($294,776) 
Level 2 – Other Significant Observable Inputs  346,555,777  - 
Level 3 – Significant Unobservable Inputs  3,897,640  - 
Total  $412,894,060  ($294,776) 

* Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

  Investments  Other Financial 
  in Securities  Instruments 
Balance as of May 31, 2008  $4,801,119  $- 
Accrued discounts/premiums  668  - 
Realized gain (loss)  13,972  - 
Change in unrealized appreciation  (171,026)  - 
(depreciation)     
Net purchases (sales)  (747,093)  - 
Transfers in and/or out of Level 3  -  - 
Balance as of August 31, 2008  $3,897,640  $- 

Interest-rate risk

Fixed-income securities are affected by changes in interest rates. When interest rates decline, the market value of the fixed-income securities generally can be expected to rise. Conversely, when interest rates rise, the market value of fixed-income securities generally can be expected to


decline. The longer the duration or maturity of a fixed-income security, the more susceptible it is to interest rate risk.

Joint repurchase agreement

Pursuant to an exemptive order issued by the Securities and Exchange Commission (SEC), the Fund, along with other registered investment companies having a management contract with the Adviser, may participate in a joint repurchase agreement transaction. Aggregate cash balances are invested in one or more large repurchase agreements, whose underlying securities are obligations of the U.S. government and/or its agencies. The Fund’s custodian bank receives delivery of the underlying securities for the joint account on the Fund’s behalf. When a Fund enters into a repurchase agreement, it receives delivery of collateral, the amount of which at the time of purchase and each subsequent business day is required to be maintained at such a level that the value is generally 102% of the repurchase amount.

Securities lending

The Fund may lend portfolio securities from time to time in order to earn additional income. The Fund retains beneficial ownership of the securities it has loaned and continues to receive interest and dividends paid by the issuer of securities and to participate in any changes in their value. On the settlement date of the loan, the Fund receives cash collateral against the loaned securities and maintains the cash collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required cash collateral is delivered to the Fund on the next business day. Cash collateral received is invested in the JHCIT. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. The Fund may receive compensation for lending their securities either in the form of fees, guarantees, and/or by retaining a portion of interest on the investment of any cash received as collateral.

The Fund has entered into an agreement with Morgan Stanley & Co., Inc. and MS Securities Services, Inc. (collectively, Morgan Stanley) which permits the Fund to lend securities to Morgan Stanley on a principal basis. Morgan Stanley is the primary borrower of securities of the Fund. The risk of having one primary borrower of Fund securities (as opposed to several borrowers in an agency relationship) is that should Morgan Stanley fail financially, all securities lent will be affected by the failure and by any delays in recovery of the securities.

Futures

The Fund may purchase and sell financial futures contracts and options on those contracts. The Fund invests in contracts based on financial instruments such as U.S. Treasury Bonds or Notes or on securities indices such as the Standard & Poor’s 500 Index, in order to hedge against a decline in the value of securities owned by the Fund.

Initial margin deposits required upon entering into futures contracts are satisfied by the delivery of specific securities or cash as collateral to the broker (the Fund’s agent in acquiring the futures position). If the position is closed out by an opposite position prior to the settlement date of the futures contract, a final determination of variation margin is made, cash is required to be paid to or released by the broker and the Fund realizes a gain or loss.

When the Fund sells a futures contract based on a financial instrument, the Fund becomes obligated to deliver that kind of instrument at an agreed upon date for a specified price. The Fund realizes a gain or loss depending on whether the price of an offsetting purchase is less or more than the price of the initial sale or on whether the price of an offsetting sale is more or less than the price of the initial purchase. The Fund could be exposed to risks if it could not close out futures positions because of an illiquid secondary market or the inability of counterparties to meet the terms of their contracts. Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade.






John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Bonds 71.19%          $680,509,682 
(Cost $947,342,107)           
 
Advertising 0.07%          715,325 
Vertis, Inc.,           
   Gtd Sr Note Ser B  10.875%  06/15/09  D  $9,230  715,325 
 
Aerospace & Defense 0.10%          910,800 
Sequa Corp.,           
   Gtd Sr Note (S)  11.750  12/01/15  B-  1,035  910,800 
 
Airlines 10.34%          98,874,939 
Alaska Airlines, Inc.,           
   Equip Trust Ctf Ser A  9.500  04/12/10  B  2,817  2,126,677 
   Equip Trust Ctf Ser D  9.500  04/12/12  B  3,250  2,258,475 
American Airlines, Inc.,           
   Equip Trust Ser 1990-K  9.930  06/15/10  CCC+  1,500  1,299,375 
   Pass Thru Ctf Ser 1988-A4  10.210  01/01/10  CCC+  2,000  1,670,271 
   Pass Thru Ctf Ser 1991-B2 (S)  10.320  07/30/14  CCC+  5,037  3,852,962 
   Pass Thru Ctf Ser 1992-A1  8.080  09/11/11  CCC+  1,200  948,168 
   Pass Thru Ctf Ser 1994-A5  10.190  05/26/16  CCC+  4,211  2,863,480 
AMR Corp.,           
   Conv Sr Note  4.500  02/15/24  CCC+  5,580  5,252,175 
Continental Airlines. Inc.,           
   Conv Note  5.000  06/15/23  B-  10,265  10,431,806 
Delta Air Lines, Inc.,           
   Pass Thru Ctf Ser 2001-1 Class B  7.711  09/18/11  BB-  6,555  5,276,775 
GOL Finance,           
   Gtd Note (S)  8.750  04/29/49  B1  14,970  9,431,100 
KLM Royal Dutch Airlines NV,           
   Sr Sub Deb (Switzerland) (D)(G)  2.125  12/29/49  BB  1,680  724,697 
Northwest Airlines Corp.,           
   Conv Sr Note (G)(H)  Zero  11/15/23  D  45,535  227,675 
   Gtd Conv Sr Note (B)(G)(H)  Zero  05/15/23  D  15,437  77,185 
   Gtd Lease Rejection Claim Ctf (G)(H)  Zero  11/30/08  B-  15,890  79,450 
   Gtd Sr Note (G)(H)  Zero  02/01/09  D  7,250  36,250 
   Note (G)(H)  Zero  03/15/09  D  1,915  9,575 
   Stub-claim (G)(H)  Zero  06/01/99  D  43,785  218,925 
   Stub-claim (G)(H)  Zero  06/01/99  D  32,071  160,355 
Pinnacle Airlines Corp.,           
   Conv Sr Note (G)  3.250  02/15/25  B-  1,000  703,750 
UAL Corp.,           
   Gtd Conv Sr Sub Note (S)  4.500  06/30/21  CCC  27,570  15,645,975 
   Gtd Conv Sr Sub Note  4.500  06/30/21  CCC  25,973  14,739,678 
US Airways Group, Inc.,           
   Conv Sr Note  7.000  09/30/20  CCC  19,265  15,604,650 
US Airways, Inc.,           
   Pass Thru Ctf Ser 1998-1 Class C  6.820  01/30/14  B+  7,297  5,235,510 
 
Aluminum 1.74%          16,592,325 
CII Carbon, LLC,           
   Gtd Sr Sub Note (S)  11.125  11/15/15  CCC+  16,845  16,592,325 

Page 1 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Auto Parts & Equipment 4.26%          $40,747,850 
Allison Transmission, Inc.,           
   Gtd Sr Note (S)  11.250%  11/01/15  B-  $21,595  19,219,550 
   Gtd Sr Note (S)  11.000  11/01/15  B-  5,525  14,283,000 
Exide Technologies,           
   Sr Sec Note Ser B  10.500  03/15/13  B-  5,235  4,973,250 
Tenneco, Inc.,           
   Gtd Sr Sub Note  8.625  11/15/14  B  2,673  2,272,050 
 
Broadcasting & Cable TV 16.94%          161,883,628 
Adelphia Communications Corp.,           
   Escrow Account (G)  Zero  03/01/49  D  5,985  501,244 
   Escrow Account (G)  Zero  11/01/49  D  2,990  250,413 
Canadian Satellite Radio Holdings, Inc.,           
   Sr Note  12.750  02/15/14  CCC+  13,500  11,373,750 
   Sr Note (G)  8.000  09/10/14  CCC+  6,400  4,822,000 
CCO Holdings LLC           
   Sr Note  8.750  11/15/13  CCC  10,000  9,425,000 
Charter Communications Holdings LLC,           
   Sr Note  10.750  10/01/09  CCC  17,700  16,815,000 
   Sr Disc Note  9.920  04/01/11  CCC  2,490  1,668,300 
Charter Communications Holdings I, LLC,           
   Gtd Sr Note  12.125  01/15/15  CCC  7,460  4,028,400 
   Gtd Sr Note  11.750  05/15/14  CCC  2,695  1,441,825 
   Gtd Sr Note  11.125  01/15/14  CCC  2,628  1,314,000 
   Gtd Sr Note  11.000  10/01/15  CCC  4,466  3,405,325 
   Gtd Sr Sec Note  11.000  10/01/15  CCC  22,678  17,405,365 
   Gtd Sr Note  10.000  05/15/14  CCC  14,020  6,939,900 
   Gtd Sr Note  9.920  04/01/14  CCC  9,436  4,670,820 
Charter Communicatons Holdings II, LLC,           
   Gtd Sr Note (S)  10.250  10/01/13  CAA2  5,387  4,780,962 
Mobile Satellite Ventures LP,           
   Sr Sec Disc Note, Step Coupon (S)(G)  Zero  04/01/13  CCC  3,600  2,214,000 
Pegasus Satellite Communications, Inc.,           
   Sr Note (B)(G)(H)(S)  11.250  01/15/10  D  10,250   
Sirius Satellite Radio, Inc.,           
   Sr Note  9.625  08/01/13  CCC  17,730  13,873,725 
XM Satellite Radio Holdings, Inc.,           
   Conv Sr Note  10.000  12/01/09  CCC-  20,190  19,079,550 
   Sr Note (S)  13.000  08/01/13  CCC  34,100  30,093,249 
XM Satellite Radio, Inc.,           
   Sr Sec Note (G)  10.000  06/01/13  CCC+  3,000  3,000,000 
Young Broadcasting, Inc.,           
   Gtd Sr Sub Note  10.000  03/01/11  CCC-  13,280  4,780,800 
 
Casinos & Gaming 10.47%          100,097,960 
Fontainebleau Las Vegas,           
   Note (S)  10.250  06/15/15  CCC+  17,520  8,278,200 
   Sr Note (B)(G)  12.500  06/01/22  CCC+  12,496  4,660,866 
Greektown Holdings LLC,           
   Sr Note (H)(S)  10.750  12/01/13  D  18,763  14,166,065 
Indianapolis Downs LLC & Capital Corp.,           
   Sr Sec Note (S)  11.000  11/01/12  B  4,330  3,442,350 
   Sr Sub Note (S)  15.500  11/01/13  CCC+  539  431,172 

Page 2 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Casinos & Gaming (continued)           
Isle of Capris Casinos, Inc.,           
   Gtd Sr Sub Note  7.000%  03/01/14  B-  $25,029  $17,895,735 
Jacobs Entertainment, Inc.,           
   Gtd Sr Note  9.750  06/15/14  B  515  365,650 
Little Traverse Bay Bands of Odawa Indians,           
   Sr Note (S)  10.250  02/15/14  B-  9,480  7,892,100 
Majestic Holdco, LLC,           
   Gtd Sr Sec Note, Step Coupon (S)  12.500  10/15/11  CCC-  10,000  200,000 
Majestic Star Casino LLC,           
   Gtd Sr Sec Note  9.500  10/15/10  B-  20,640  12,487,200 
   Sr Note  9.750  01/15/11  CCC-  8,675  889,188 
Mashantucket Western Pequot Tribe,           
   Bond Ser A (S)  8.500  11/15/15  BB+  7,645  5,580,850 
MTR Gaming Group, Inc.,           
   Gtd Sr Note Ser B  9.750  04/01/10  B  350  340,375 
   Gtd Sr Sub Note Ser B  9.000  06/01/12  CCC  4,320  3,553,200 
Seminole Hard Rock Entertainment,           
   Sr Sec Note (P)(S)  5.276  03/15/14  BB  2,850  2,280,000 
Silver Slipper Casino,           
   Note (B)(G)  13.000  12/17/09  Caa1  4,373  4,211,959 
Trump Entertainment Resorts, Inc.,           
   Gtd Sr Sec Note  8.500  06/01/15  CCC+  29,340  13,423,050 
 
Commercial Printing 0.99%          9,496,950 
Quebecor World Capital Corp.,           
   Gtd Sr Note (H)(G)  6.125  11/15/13  D  9,970  3,564,275 
   Gtd Sr Note (H)(G)  4.875  11/15/08  D  1,210  429,550 
   Sr Note (G)(H)(S)  8.750  03/15/16  D  1,850  818,625 
Quebecor World, Inc.,           
   Sr Note (G)(H)(S)  9.750  01/15/15  D  10,410  4,684,500 
 
Commodity Chemicals 0.76%          7,234,108 
Applied Extrusion Technologies, Inc.,           
   Sr Note (B)(G)(L)(S)  12.000  03/15/12  CCC+  536  472,108 
Braskem SA,           
   Note (S)  11.750  01/22/14  BB+  5,600  6,762,000 
 
Diversified Commercial & Professional Services 0.98%        9,377,610 
MSX International, Inc.,           
   Gtd Sr Sec Note (S)  12.500  04/01/12  B2  4,230  2,876,400 
Muzak LLC,           
   Gtd Sr Sub Note  9.875  03/15/09  CCC-  7,346  6,501,210 
 
Diversified Financial Services 2.50%          23,888,096 
Buffalo Thunder Development Authority,           
   Sr Sec Note (S)  9.375  12/15/14  B  5,485  3,071,600 
FDR Management Group, LLC,           
   Note (B)(G)  18.000  05/31/12  CCC+  8,418  7,653,996 
Residential Accredit Loans, Inc.,           
   CMO-REMIC Ser 2006-QO4 (G)  Zero  11/20/37  CCC  65,000  9,750,000 
TAM Capital Inc.,           
   Gtd Sr Note  7.375  04/25/17  B+  4,375  3,412,500 

Page 3 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Diversified Metals & Mining 0.40%          $3,803,138 
Katanga Mining Ltd.,           
   Sr Sub Note (Canada) (D)(G)  14.000%  11/30/13  CCC+  $2,171  1,901,569 
   Sub Note (Canada) (D)(G)  14.000  11/30/13  CCC+  2,171  1,901,569 
 
Environmental & Facilities Services 0.28%          2,708,438 
Blaze Recycling & Metals, Inc.,           
   Gtd Sr Sec Note (S)(G)  10.875  07/15/12  B  2,675  2,708,438 
 
Household Products 0.36%          3,426,500 
Yankee Aquisition Corp.,           
   Gtd Sr Sub Note  8.500  02/15/15  B-  4,450  3,426,500 
 
Housewares & Specialties 0.88%          8,369,625 
Vitro SA de CV,           
   Gtd Sr Note  9.125  02/01/17  B  7,250  5,618,750 
   Sr Note  11.750  11/01/13  B  2,950  2,750,875 
 
Insurance Brokers 0.11%          1,073,250 
MBIA Insurance Corp.,           
   Note (14.000% to 1-1-13 then variable) (S)  14.000  01/15/33  A  1,325  1,073,250 
SIG Capital Trust I,           
   Trust Preferred Security (B)(H)  9.500  08/15/27  D  5,000   
 
Integrated Telecommunication Services 0.67%          6,361,725 
West Corp.,           
   Gtd Sr Sub Note  11.000  10/15/16  B-  8,130  6,361,725 
 
Investment Banking & Brokerage 0.08%          722,727 
Goldman Sachs & Co.,           
   Sr Note  Zero  10/20/37  B  12,000  722,727 
 
Movies & Entertainment 0.23%          2,222,025 
Marquee Holdings, Inc.,           
   Sr Disc Note Ser B, Step Coupon  12.000  08/15/14  CCC+  2,795  2,222,025 
 
Oil & Gas Exploration & Production 0.62%          5,918,935 
Dominion Petroleum Aquisitions Ltd.,           
   Sr Sec Conv Note Ser B (B)(G)  10.000  10/01/11  CCC  6,325  5,918,935 
 
Packaged Foods & Meats 0.40%          3,785,800 
ASG Consolidated LLC,           
   Sr Disc Note, Step Coupon  11.500  11/01/11  B+  4,115  3,785,800 
 
Paper Packaging 1.07%          10,276,000 
Jefferson Smurfit Corp.,           
   Gtd Sr Note  8.250  10/01/12  B-  2,800  2,436,000 
Smurfit-Stone Container Enerprises, Inc.,           
   Sr Note  8.000  03/15/17  B-  8,090  6,472,000 
U.S. Corrugated, Inc.,           
   Sr Sec Note  10.000  06/01/13  B  1,900  1,368,000 
 
Paper Products 1.52%          14,512,655 
Abitibi-Consolidated Co. of Canada, Inc.,           
   Deb  8.850  08/01/30  CCC+  3,000  1,110,000 
   Deb  7.400  04/01/18  CCC+  3,500  1,295,000 
   Gtd Sr Note  15.500  07/15/10  CC  1,339  1,010,945 

Page 4 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
   
Paper Products (continued)           
Abitibi-Consolidated Co. of Canada, Inc.,           
   Gtd Sr Note  8.375%  04/01/15  CCC+  $9,995  $4,097,950 
   Gtd Sr Note  7.750  06/15/11  CCC+  3,000  1,380,000 
   Gtd Sr Note  6.000  06/20/13  CCC+  4,880  1,976,400 
   Sr Note (S)  13.750  04/01/11  B+  1,175  1,233,750 
APP Finance II Mauritius Ltd.,           
   Gtd Bond (G)(H)(I)  12.000  12/29/49  D  7,500  46,875 
Newark Group, Inc.,           
   Sr Sub Note  9.750  03/15/14  CCC+  4,725  2,291,625 
Pope & Talbot, Inc.,           
   Deb (G)(H)  8.375  06/01/13  D  1,561  15,610 
   Sr Note (G)(H)  8.375  06/01/13  D  5,450  54,500 
   
Photographic Products 0.01%          97,500 
PCA, LLC,           
   Gtd Sr Note (G)(H)  11.875  08/01/09  D  3,000  97,500 
  
Publishing 4.16%          39,738,587 
Idearc, Inc.,           
   Gtd Sr Note  8.000  11/15/16  B-  66,145  29,930,612 
R.H. Donnelley Corp.,           
   Sr Note Ser A-3  8.875  01/15/16  B-  9,190  4,824,750 
   Sr Note  8.875  10/15/17  B-  2,130  1,096,950 
   Sr Note  6.875  01/15/13  B-  1,175  646,250 
   Sr Disc Note Ser A-1  6.875  01/15/13  B-  5,945  3,240,025 
  
Real Estate Management & Development 0.11%          1,083,300 
Reology Corp.,           
   Sr Sub Note  12.375  04/15/15  CCC+  2,355  1,083,300 
 
Specialty Chemicals 2.98%          28,515,575 
American Pacific Corp.,           
   Gtd Sr Note  9.000  02/01/15  B+  24,315  23,585,550 
Tronox Worldwide, LLC,           
   Gtd Sr Note  9.500  12/01/12  CC  10,165  4,930,025 
 
Steel 0.00%          14,550 
LTV Corp.,           
   Gtd Sr Sub Note (B)(G)(H)  11.750  11/15/09  D  9,700  14,550 
 
Thrifts & Mortgage Finance 2.98%          28,528,224 
DB Master Finance LLC,           
   CMO-REMIC Ser 2006-1-M1 (S)  8.285  06/20/31  BB  4,430  3,380,666 
Dominos Pizza Master Issuer LLC,           
   CMO-REMIC Ser 2007-1-M1 (S)  7.629  04/25/37  BB  12,710  7,943,750 
Global Tower Partners Acquisition Partners, LLC,           
   CMO-REMIC Sub Bond Ser 2007-1A-G (S)  7.874  05/15/37  B2  1,945  1,742,827 
HarborView Mortgage Loan Trust,           
   CMO-REMIC Ser 2007-3 Class ES IO (G)(H)  0.350  05/19/47  BB  282,910  1,768,185 
   CMO-REMIC Ser 2007-4 Class ES IO (G)(H)  0.350  07/19/47  BB  285,108  1,871,024 
   CMO-REMIC Ser 2007-6 Class ES IO (G)(H)(S)  0.343  08/19/37  BB  198,414  1,240,088 
IndyMac Index NIM Corp.,           
   CMO-REMIC Ser 2006-AR6-N3 (S)  8.833  06/25/46  BB  3,861  395,716 

Page 5 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
  
Thrifts & Mortgage Finance (continued)           
Lehman XS NIM Notes,           
   CMO-REMIC Ser 2006-GPM8-A3 (S)  9.000%  01/28/47  Ba3  $1,171  $1,068,166 
   CMO-REMIC Ser 2006-GPM8-A4 (S)  9.000  01/28/47  B2  1,730  185,975 
SBA CMBS Trust,           
   Sub Bond Ser 2006-1A Class H (S)  7.389  11/15/36  Ba3  5,460  5,229,228 
   Sub Bond Ser 2006-1A Class J (S)  7.825  11/15/36  B1  4,045  3,702,599 
 
Tobacco 1.18%          11,300,983 
Alliance One International, Inc.,           
   Gtd Sr Note  11.000  05/15/12  B+  3,850  3,917,375 
North Atlantic Holdings, Inc.,           
   Sr Disc Note (G)  12.250  03/01/14  CC  1,300  923,000 
North Atlantic Trading Co., Inc.,           
   Sr Note (G)(H)(S)  10.000  03/01/12  CCC-  8,390  6,460,608 
 
Trucking 1.38%          13,222,663 
Travelport LLC,           
   Gtd Sr Note  9.875  09/01/14  B  14,085  11,514,488 
   Gtd Sr Sub Note  11.875  09/01/16  CCC+  2,270  1,708,175 
 
Wireless Telecommunication Services 2.62%          25,007,891 
Centennial Communications Corp.,           
   Sr Note  10.000  01/01/13  CCC+  2,000  2,080,000 
   Sr Note (P)  8.541  01/01/13  CCC+  6,420  6,387,900 
Digicel Group Ltd.,           
   Sr Note (S)  8.875  01/15/15  CCC+  10,860  10,195,368 
Grupo Iusacell SA de CV,           
   Sr Sec Note (G)(S)  10.000  12/31/13  CCC  3,321  2,789,595 
Terrestar Networks, Inc.,           
   Sr Sec Note (G)(S)  15.000  02/15/14  CCC  4,617  3,555,028 
 
Defaulted bonds beyond maturity date (X) 0.22%          $2,096,643 
(Cost $35,132,627)           
 
Airlines 0.01%          79,030 
Northwest Airlines, Inc.,           
   Gtd Note (G)(H)  8.700  03/15/07  D  15,806  79,030 
 
Broadcasting & Cable TV 0.00%          11,500 
Pegasus Satellite Communications, Inc.,           
   Sr Disc Note (G)(H)  13.500  03/01/07  D  9,200  11,500 
   Sr Note (B)(G)(H)  12.375  08/01/08  D  6,500   
Xanadoo Co.,           
   Sr Note Ser B (B)(G)(H)  12.500  08/01/07  D  13,525   
 
Home Furnishings 0.00%          0 
Imperial Home Decor Group, Inc.,           
   Gtd Sr Sub Note Ser B (B)(G)  11.000  03/15/08  D  4,875   
 
Paper Products 0.21%          1,995,000 
Indah Kiat International Finance Co.,           
   Gtd Sec Note Ser C (G)(H)  12.500  06/15/06  D  2,500  1,200,000 

Page 6 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Paper Products (continued)           
Indah Kiat Finance Mauritius Ltd.,           
   Gtd Sr Note (G)(H)  10.000%  07/01/07  D  $6,000  $592,500 
Tjiwi Kimia Finance Mauritius Ltd.,           
   Sr Note (G)(H)  13.250  08/01/01  D  5,250  157,500 
   Gtd Sr Note (G)(H)  10.000  08/01/04  D  1,500  45,000 
 
Personal Products 0.00%          11,113 
Global Health Sciences, Inc.,           
   Gtd Sr Note (B)(G)(H)  11.000  05/01/08  D  3,175  11,113 
 
  
Issuer        Shares  Value 
 
Common stocks 14.73%          $140,819,522 
(Cost $256,413,639)           
 
Airlines 6.17%          58,974,311 
Air France-KLM, ADR        174,118  4,170,126 
ATA Holdings Corp. (I)        382,783  370,841 
Northwest Airlines Corp. (I)        4,732,210  46,281,014 
Pinnacle Airlines Corp. (I)        439,100  2,090,116 
UAL Corp.        150,000  1,666,500 
US Airways Group, Inc. (I)        517,752  4,395,714 
 
Aluminum 0.01%          129,790 
Golden Northwest Aluminum, Inc. Class A (B)(I)        43  289 
Golden Northwest Aluminum, Inc. Class B (B)(I)        19,271  129,501 
 
Broadcasting & Cable TV 6.24%          59,662,805 
Canadian Satellite Radio Holdings, Inc. Class A (I)        703,169  2,417,185 
Charter Communications, Inc. Class A (I)        10,200,000  10,710,000 
Comcast Corp. Special Class A        1,129,460  23,876,784 
Granite Broadcasting Corp. (B)(I)        11,688  81,816 
Sirius XM Radio, Inc. (I)        7,876,120  10,475,240 
Time Warner Cable, Inc. Class A (I)        452,403  12,101,780 
 
Casinos & Gaming 0.09%          822,397 
Fontainebleau Las Vegas (B)(I)        249,211  822,397 
Gabrielino Tribal Gaming Authority (B)(I)        90,000   
Gabrielino Tribal Gaming Authority (B)(I)        125,000   
 
Commodity Chemicals 0.03%          329,479 
Applied Extrusion Technologies, Inc. Class A (B)(I)(L)        51,082  329,479 
  
Diversified Commercial & Professional Services 0.00%        2 
FDR Management Group, LLC (B)(I)        2,129,596  2 
 
Electric Utilities 0.00%          0 
Mirant Corp. (B)(I)        10,500,000   
 
Environmental & Facilities Services 0.21%          2,048,725 
Kaiser Group Holdings, Inc. (I)        81,949  2,048,725 
 
Forest Products 0.05%          472,536 
Tembec Inc. (I)        181,133  472,536 

Page 7 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

Issuer    Shares  Value 
 
Industrial Machinery 0.00%      $0 
Glasstech, Inc. Class B (B)(I)(W)    4,430   
Glasstech, Inc. Class C (B)(I)    10   
 
Marine 0.06%      545,760 
Paragon Shipping, Inc. (I)(S)    36,000  545,760 
 
Oil & Gas Exploration & Production 0.82%      7,792,877 
Dominion Petroleum Ltd. (I)    13,467,101  3,805,029 
Po Valley Energy Ltd. (I)    3,100,000  3,987,848 
 
Other Diversified Financial Services 0.03%      283,468 
Adelphia Recovery Trust (I)    8,722,093  283,468 
 
Paper Products 0.20%      1,885,850 
APP China Group Ltd. (B)(I)    37,717  1,885,850 
 
Publishing 0.31%      2,975,000 
MediaNews Group, Inc. (I)    29,750  2,975,000 
 
Specialty Chemicals 0.36%      3,452,610 
American Pacific Corp. (I)    200,500  3,452,610 
 
Wireless Telecommunication Services 0.15%      1,443,912 
USA Mobility, Inc.    128,120  1,443,912 
   
    Par value   
Issuer, description    (000)  Value 
 
Lessor equipment trust certificates 0.00%      $6,061 
(Cost $0)       
 
Airlines 0.00%      6,061 
US Airways, Inc.,       
   Lessor Equip Trust Ctf (N436US) (N437US)       
   (N528US) (N651US) (N652US) (B)(H)    $606  6,061 
 
  Credit     
Issuer, description  rating (A)  Shares  Value 
Preferred Stocks 8.34%      $79,752,656 
(Cost $73,429,196)       
 
Airlines 2.79%      26,624,970 
Continental Airlines Finance Trust II, 6.00%  CCC  1,123,404  26,610,632 
Northwest Airlines Corp., 9.50% (B)(G)  D  143,381  14,338 
   
Broadcasting & Cable TV 1.45%      13,814,000 
Pegasus Satellite Communications, Inc., 12.75%,       
Ser B (G)(H)(I)  D  4,831  0 
Xanadoo Co., 6.50%, Ser C (G)  D  345,350  13,814,000 
   
Diversified Capital Markets 0.18%      1,729,603 
iSTAR Financial, Inc., 7.50%  BB+  151,057  1,729,603 

Page 8 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

                    Credit     
Issuer, description    rating (A)  Shares  Value 
 
Industrial Machinery 0.27%          $2,627,610 
Glasstech, Inc., 12.75%, Ser B (B)(G)    B  4,475  2,484,610 
Glasstech, Inc., Ser A (B)(G)(I)    B  143  143,000 
Glasstech, Inc., Ser C (B)(G)(I)    B  11  0 
 
Multi-Line Insurance 0.24%          2,326,556 
CIT Group, Inc., 7.75%    BBB-  201,608  2,326,556 
 
Wireless Telecommunication Services 3.41%          32,629,917 
Rural Cellular Corp., 12.25%,           
   Payment-In-Kind    B3  23,861  32,629,917 
 
Issuer        Shares  Value 
 
Stapled Units 0.92%          $8,792,071 
(Cost $4,644,068)           
 
Forest Products 0.92%          8,792,071 
TimberWest Forest Corp., (G)        729,900  8,792,071 
 
 
  Interest  Maturity  Credit  Par value   
Issuer, description  rate  date  rating (A)  (000)  Value 
 
Tax-exempt long-term bonds 0.16%          $1,490,080 
(Cost $2,000,000)           
 
Other Revenue 0.16%          1,490,080 
Dallas-Fort Worth Texas International Airport Facility           
   Improvement Corp.           
   Rev Ref Airport Facil Imp  9.125%  05/01/29   CCC+  $2,000  1,490,080 
 
 
      Credit  Par value   
Issuer, description, maturity date      rating (A)  (000)  Value 
 
Tranche Loans 5.45%          $52,116,032 
(Cost $67,312,599)           
 
Airlines 4.28%          40,930,255 
Delta Air Lines, Inc,           
   Tranche (2nd Lien Fac), 04-30-14      B  $12,950  9,388,750 
   Tranche A (Fac LN329495), 04-30-12      BB-  7,831  6,577,956 
East Valley Tourist Development Authority,           
   Tranche (Fac LN5501750) 8-06-12      B3  2,925  2,866,500 
United Air Lines, Inc.,           
   Tranche B (Fac LN316631), 02-01-14      B+  2,122  1,547,049 
US Airways Group, Inc.,           
   Tranche LCC, 03-23-14      B+  30,000  20,550,000 
 
Broadcasting & Cable TV 0.12%          1,161,225 
Sirius Satellite Radio, Inc.,           
   Tranche SIRI (Fac LN342596), 12-20-12      B  1,290  1,161,225 
 
Forest Products 0.06%          568,872 
Tembec, Inc.,           
   Tranche (Fac LNTEMBEC1), 02-28-12 (G)      B-  618  568,872 

Page 9 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

      Credit  Par value   
Issuer, description, maturity date      rating (A)  (000)  Value 
 
Integrated Telecommunication Services 0.00%          $4,350 
Local TV on Satellite, LLC,           
   Tranche B (Fac LN331268), 05-07-13      B+  $5  4,350 
 
Paper Products 0.11%          1,035,493 
Abitibi Bowater, Inc.,           
   Tranche B 3/31/2009      B+  1,041  1,035,493 
 
Publishing 0.52%          4,936,117 
Star Tribune Co.,           
   Tranche (2nd Lien Fac), 03-01-15 (G)      CCC+  12,795  639,750 
   Tranche T1 (1st Lien Note Fac LN321132),           
     03-01-14 (G)      B+  7,582  3,032,829 
   Tranche T1 (Fac LN321132), 03-01-14 (G)      CCC+  3,159  1,263,538 
 
Trucking 0.36%          3,479,720 
Saint Acquisition Corp.,           
   Tranche B (Fac LN333702), 05-06-14      B+  4,702  3,479,720 
 
  Exercise  Expiration    Number of   
Issuer,  Price  Date    Contracts  Value 
 
Options Purchased 0.66%          $6,269,000 
(Cost $5,182,863)           
 
Calls 0.66%          6,269,000 
Comcast Corp.  $25.00   Jan-2010       2,581  516,200 
Comcast Corp.  20.00   Jan-2010       8,590  3,607,800 
Comcast Corp.  15.00   Jan-2010       2,860  2,145,000 
 
Warrants 0.04%          $406,540 
(Cost $5,872,532)           
 
 
Issuer        Shares  Value 
  
Airlines 0.00%          0 
ATA Holdings Corp. (I)        11,942   
 
Broadcasting & Cable TV 0.00%          8,766 
Granite Broadcasting Corp., Class A (I)        29,220  6,428 
Sirius XM Radio, Inc. (I)        9,350  2,338 
 
Casinos & Gaming 0.00%          0 
Silver Slipper Casino (B)(I)        1,929   
 
Diversified Metals & Mining 0.04%          357,129 
Doe Run Resources Corp. (B)(I)        1   
Katanga Mining Ltd. (I)        80,000  357,129 
 
Food Retail 0.00%          40,645 
Pathmark Stores, Inc. (B)(I)        62,796  40,645 
 
Restaurants 0.00%          0 
Planet Hollywood International, Inc. (B)(I)        2,816   
 
Textiles 0.00%          0 
HF Holdings, Inc. (B)(I)        28,092   

Page 10 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

    Par value   
Issuer, description  Interest Rate  (000)  Value 
 
Short-term investments 0.01%      $82,017 
(Cost $82,017)       
 
Cash Equivalents 0.01%      82,017 
John Hancock Cash Investment Trust (T)(W)  2.7293(Y)  $82  82,017 
 
Total investments (Cost $1,397,411,648)† 101.72%      $972,340,304 
 
Other assets and liabilities, net (1.72%)      ($16,449,857) 
 
Total net assets 100.00%      $955,890,447 

The percentage shown for each investment category is the total value of that category as a percentage of the net assets of the Fund.

ADR American Depositary Receipt

IO Interest only (carries notional principal amount)

NIM Net Interest Margin

SBA Small Business Administration

(A) Credit ratings are unaudited and are rated by Moody’s Investors Service where Standard & Poor’s ratings are not available unless indicated otherwise.

(B) These securities are fair valued in good faith under procedures established by the Board of Trustees. The securities amounted $28,883,312 or 3.02% of the Fund's net assets as of August 31, 2008

(D) Par value of foreign bonds is expressed in local currency, as shown parenthetically in security description.

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

(H) Non-income-producing issuer filed for protection under the Federal Bankruptcy Code or is in default of interest payment.

(I) Non-income producing security.

(L) All or a portion of this security is on loan as of August 31, 2008.

(P) Variable rate obligation. The coupon rate shown represents the rate at period end.

(S) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $231,430,705 or 24.21% of the net assets of the Fund as of August 31, 2008.

(T) Represents investment of securities lending collateral.

(W) Issuer is an affiliate of John Hancock Advisers, LLC or the Fund owns 5% or more of the outstanding voting securities of the issuer.

(X) Non-income-producing, issuers are in bankruptcy and are in default of interest payments. The aggregrate value of these bonds is $2,096,643 or 0.22% of the Fund's net assets as of August 31, 2008

(Y) Represents current yield on August 31, 2008.

† At August 31, 2008, the aggregate cost of investment securities for federal income tax purposes was $1,399,421,205. Net unrealized depreciation aggregated $427,080,901, of which $28,958,320 related to appreciated investment securities and $456,039,221 related to depreciated investment securities.

Page 11 


John Hancock High Yield Fund
Securities owned by the Fund on
August 31, 2008 (Unaudited)

  PRINCIPAL     
  AMOUNT    UNREALIZED 
  COVERED BY  SETTLEMENT  APPRECIATION 
CURRENCY  CONTRACT  DATE  (DEPRECIATION) 
Buys       
Canadian Dollar  $16,355,947  Sep-2008  ($641,918) 
 
Sells       
Australian Dollar  ($5,456,000)  Sep-2008  $438,443 
Canadian Dollar  (38,913,388)  Sep-2008  1,549,614 
Euro  (4,630,000)  Sep-2008  376,787 
Pound Sterling  (2,507,000)  Sep-2008  312,551 
      2,677,395 
 
Total      $2,035,477 

The Fund had the following credit default swap contracts open on August 31, 2008:

            UNREALIZED 
  NOTIONAL  SELL  RECEIVED  TERMINATION    APPRECIATION/ 
ISSUER  AMOUNT  PROTECTION  FIXED RATE  DATE  COUNTERPARTY  DEPRECIATION 
Abitibi-Consolidated, Inc.  $3,000,000  SELL  8.00%  Sep 2012  Morgan Stanley  ($1,178,830) 
AMR Corp.  3,000,000  SELL  6.60  Sep 2012  Morgan Stanley  (1,427,842) 
AMR Corp.  5,000,000  SELL  5.00  Sep 2010  Morgan Stanley  (487,009) 
AMR Corp.  3,000,000  SELL  5.00  Sep 2010  Morgan Stanley  (183,700) 
AMR Corp.  3,000,000  SELL  5.00  Sep 2010  Morgan Stanley  (210,698) 
AMR Corp.  2,000,000  SELL  5.00  Mar 2013  Lehman Brothers  (732,479) 
BoWater, Inc.  3,000,000  SELL  7.00  Sep 2012  Morgan Stanley  (716,187) 
Delta Air Lines, Inc.             
  10,000,000  SELL  5.00  Sep 2013  Morgan Stanley  65,854 
Texas Competitive             
Electric Holdings Co. LLC             
  10,000,000  SELL  4.60  Jun 2013  Morgan Stanley  (323,246) 
Texas Competitive             
Electric Holdings Co. LLC  5,000,000  SELL  5.85  Jun 2013  Morgan Stanley  19,791 
Total            ($5,174,346) 

Page 12 


Notes to portfolio of investments

Security valuation

The net asset value of common shares of the Fund is determined daily as of the close of the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. Short-term debt investments that have a remaining maturity of 60 days or less are valued at amortized cost, and thereafter assume a constant amortization to maturity of any discount or premium, which approximates market value. Investments in John Hancock Cash Investment Trust (JHCIT), an affiliate of John Hancock Advisers, LLC (the Adviser), a wholly owned subsidiary of John Hancock Financial Services, Inc., a subsidiary of Manulife Financial Corporation (MFC), are valued at their net asset value each business day. All other securities held by the Fund are valued at the last sale price or official closing price (closing bid price or last evaluated quote if no sale has occurred) as of the close of business on the principal securities exchange (domestic or foreign) on which they trade or, lacking any sales, at the closing bid price. Securities traded only in the over-the-counter market are valued at the last bid price quoted by brokers making markets in the securities at the close of trading. Securities for which there are no such quotations, principally debt securities, are valued based on the evaluated prices provided by an independent pricing service, which utilizes both dealer-supplied and electronic data processing techniques, which take into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data.

Other assets and securities for which no such quotations are readily available are valued at fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees. Generally, trading in non-U.S. securities is substantially completed each day at various times prior to the close of trading on the NYSE. The values of such securities used in computing the net asset value of the Fund’s shares are generally determined as of such times. Occasionally, significant events that affect the values of such securities may occur between the times at which such values are generally determined and the close of the NYSE. Upon such an occurrence, these securities will be valued at fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees.

In deciding whether to make a fair value adjustment to the price of a security, the Board of Trustees or their designee may review a variety of factors, including developments in foreign markets, the performance of U.S. securities markets and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. The Fund may also fair value securities in other situations, for example, when a particular foreign market is closed, but the Fund is calculating the net asset value. In view of these factors, it is likely that a Fund investing significant amounts of assets in securities in foreign markets will be fair valued more frequently than a Fund investing significant amounts of assets in frequently traded, U.S. exchange listed securities of large-capitalization U.S. issuers.

For purposes of determining when fair value adjustments may be appropriate with respect to investments in securities in foreign markets that close prior to the NYSE, the Fund will, on an ongoing basis, monitor for “significant market events.” A significant market event may be a certain percentage change in the value of an index that tracks foreign markets in which the Fund has significant investments. If a significant market event occurs due to a change in the value of the index, the pricing for investments in foreign markets that have closed prior to the NYSE will promptly be reviewed and potential adjustments to the net asset value will be recommended to the Fund’s Pricing Committee where applicable.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity.


The Fund adopted Statement of Financial Accounting Standards No. 157 (FAS 157), Fair Value Measurements, effective with the beginning of the Fund’s fiscal year. FAS 157 established a three-tier hierarchy to prioritize the assumptions, referred to as inputs, used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.

Level 3 – Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable, such as when there is little or no market activity for an investment, unobservable inputs may be used. Unobservable inputs reflect the Fund’s own assumptions about the factors that market participants would use in pricing an investment and would be based on the best information available.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund’s net assets as of August 31, 2008:

  Investments in  Other Financial 
Valuation Inputs       Securities  Instruments* 
 
Level 1 – Quoted Prices  $172,525,228   
Level 2 – Other Significant Observable Inputs  700,127,928                 ($3,138,869) 
Level 3 – Significant Unobservable Inputs  99,687,148   
Total  $972,340,304                 ($3,138,869) 

* Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

  Investments  Other Financial 
  in Securities  Instruments 
Balance as of May 31, 2008  $149,899,329  - 
Accrued discounts/premiums  1,816,020  - 
Realized gain (loss)  3,340,785  - 
Change in unrealized appreciation  (22,477,472)  - 
(depreciation)     
Net purchases (sales)  (32,891,514)  - 
Transfers in and/or out of Level 3    - 
Balance as of August 31, 2008  $99,687,148  - 


Investment risk

The Fund may invest a portion of its assets in issuers and/or securities of issuers that hold mortgage securities, including subprime mortgage securities. The value of these securities is sensitive to changes in economic conditions, including delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.

Investing in high yield securities

Investing in high yield securities may involve greater risks and considerations not typically associated with investing in U.S. government bonds and other high quality fixed-income securities. These securities are non-investment grade securities, often referred to as “junk bonds.” Economic downturns may disrupt the high yield market and impair the ability of issuers to repay principal and interest. Also, an increase in interest rates would likely have an adverse impact on the value of such obligations. Moreover, high yield securities may be less liquid due to the extent that there is no established retail secondary market and because of a decline in the value of such securities.

Interest-rate risk

Fixed-income securities are affected by changes in interest rates. When interest rates decline, the market value of the fixed-income securities generally can be expected to rise. Conversely, when interest rates rise, the market value of fixed-income securities generally can be expected to decline. The longer the duration or maturity of a fixed-income security, the more susceptible it is to interest rate risk.

Securities lending

The Fund may lend portfolio securities from time to time in order to earn additional income. The Fund retains beneficial ownership of the securities it has loaned and continues to receive interest and dividends paid by the issuer of securities and to participate in any changes in their value. On the settlement date of the loan, the Fund receives cash collateral against the loaned securities and maintains the cash collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required cash collateral is delivered to the Fund on the next business day. Cash collateral received is invested in the JHCIT. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. The Fund may receive compensation for lending their securities either in the form of fees, guarantees, and/or by retaining a portion of interest on the investment of any cash received as collateral.

The Fund has entered into an agreement with Morgan Stanley & Co., Inc. and MS Securities Services, Inc. (collectively, Morgan Stanley) which permits the Fund to lend securities to Morgan Stanley on a principal basis. Morgan Stanley is the primary borrower of securities of the Fund. The risk of having one primary borrower of Fund securities (as opposed to several borrowers in an agency relationship) is that should Morgan Stanley fail financially, all securities lent will be affected by the failure and by any delays in recovery of the securities.

Options

The Fund may purchase and sell put and call options on securities (whether or not it holds the securities in its portfolio).

When the Fund writes a put or call option, an amount equal to the premium received by the Fund is recorded as a liability and is subsequently “marked-to-market” to reflect the current market value of the option written. If an option expires or if the Fund enters into an offsetting purchase option, the Fund realizes a gain (or loss if the cost of an offsetting purchase option exceeds the premium received when the option was written). If a written call option is exercised, the Fund realizes a gain or loss from the sale of the underlying security with the proceeds of the sale increased by the premium originally


received. If a written put option is exercised, the amount of the premium originally received reduces the cost of the security that the Fund purchases upon exercise of the option.

When the Fund purchases a put or call option, the premium paid by the Fund is included in the Portfolio of Investments and subsequently “marked-to-market” to reflect the current market value of the option. If the purchased option expires, the Fund realizes a loss for the cost of the option. If the Fund enters into a closing sale transaction, the Fund realizes a gain or loss, depending on whether proceeds from the closing sale transaction are greater or less than the original cost of the option. If the Fund exercises a call option, the cost of the securities acquired by exercising the call is increased by the premium paid to buy the call. If the Fund exercises a put option, it realizes a gain or loss from the sale of the underlying security and the proceeds from such sale are decreased by the premium originally paid.

The Fund may use options to manage exposure to fluctuations in currency values. Writing puts and buying calls may increase the Fund’s exposure to the underlying instrument. Buying puts and writing calls may decrease the Fund’s exposure to the underlying instrument. Losses may arise from changes in the value of the underlying instruments, if there is an illiquid secondary market for the contracts or if the counterparties do not perform under the terms of the contract.

Swap contracts

The Fund may enter into swap transactions in order to hedge the value of the Fund’s portfolio against interest rate fluctuations or to enhance the Fund’s income or to manage the Fund’s exposure to credit or market risk.

Credit default swaps involve the exchange of a fixed rate premium for protection against the loss in value of an underlying debt instrument in the event of a defined credit event (such as payment default or bankruptcy). Under the terms of the swap, one party acts as a “guarantor” receiving a periodic payment that is a fixed percentage applied to a notional principal amount. In return the party agrees to purchase the notional amount of the underlying instrument, at par, if a credit event occurs during the term of the swap. The Fund may enter into credit default swaps in which either it or its counterparty act as guarantors. By acting as the guarantor of a swap, the Fund assumes the market and credit risk of the underlying instrument including liquidity and loss of value.

The Fund records changes in the value of the swap as unrealized gains or losses on swap contracts. Net periodic payments accrued but not yet received (paid) are included in change in the unrealized appreciation/depreciation. Accrued interest income and interest expense on the swap contracts are recorded as realized gain (loss). Any upfront payments received by the Fund are amortized to maturity.

Swap contracts are subject to risks related to the counterparty’s ability to perform under the contract, and may decline in value if the counterparty’s creditworthiness deteriorates. The risks may arise from unanticipated movement in interest rates. The Fund may also suffer losses if it is unable to terminate outstanding swap contracts or reduce its exposure through offsetting transactions.

Forward foreign currency contracts

The Fund may purchase and sell forward foreign currency contracts in order to hedge a specific transaction or Fund position. Forward foreign currency contracts are valued at forward foreign currency exchange rates and marked to market daily.

The U.S. dollar value of foreign currency underlying all contractual commitments held at the end of the period, the resulting net unrealized appreciation (depreciation) and related net receivable or payable amount are determined using forward foreign currency exchange rates supplied by a quotation service. The Fund could be exposed to risks in excess of amounts recognized in the table on the previous page, if the counterparties to the contracts are unable to meet the terms of their contracts or if the value of the forward foreign currency contract changes unfavorably.




ITEM 2. CONTROLS AND PROCEDURES.

(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-Q, the registrant's principal executive officer and principal 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 registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 3. EXHIBITS.

Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.


SIGNATURES 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Bond Trust

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

Date: October 30, 2008

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

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

Date: October 30, 2008

By: /s/ Charles A. Rizzo
-------------------------------------
Charles A. Rizzo
Chief Financial Officer

Date: October 30, 2008