John Hancock
California Tax-Free Income Fund
Quarterly portfolio holdings 8/31/19
Funds investments
As of 8-31-19 (unaudited)
Rate (%) | Maturity date | Par value^ | Value | |||||||||||||
Municipal bonds 97.8% (Cost $196,683,428) |
$ | 214,866,005 | ||||||||||||||
California 96.9% |
212,891,258 | |||||||||||||||
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ABAG Finance Authority for Nonprofit Corps. |
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Sharp HealthCare, Series A |
5.000 | 08-01-43 | 2,000,000 | 2,250,820 | ||||||||||||
Burbank Unified School District |
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Convertible Capital Appreciation Election 2013, GO (0.000% to 8-1-23, then 4.500% thereafter) |
0.000 | 08-01-37 | 1,770,000 | 1,807,117 | ||||||||||||
California Community Housing Agency |
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Annadel Apartments, Series A (A) |
5.000 | 04-01-49 | 1,000,000 | 1,122,840 | ||||||||||||
California Community Housing Agency |
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Verdant at Green Valley Project, Series A (A) |
5.000 | 08-01-49 | 1,000,000 | 1,133,610 | ||||||||||||
California County Tobacco Securitization Agency |
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Fresno County Funding Corp. |
6.000 | 06-01-35 | 1,765,000 | 1,766,236 | ||||||||||||
California County Tobacco Securitization Agency |
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Kern County Tobacco Funding Corp., Series 2014 |
5.000 | 06-01-40 | 1,500,000 | 1,602,180 | ||||||||||||
California County Tobacco Securitization Agency |
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Public Improvements |
5.250 | 06-01-21 | 2,020,000 | 2,046,038 | ||||||||||||
California Educational Facilities Authority |
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Pepperdine University |
5.000 | 10-01-49 | 2,550,000 | 3,031,517 | ||||||||||||
California Educational Facilities Authority |
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University of Redlands, Series A |
5.000 | 10-01-35 | 1,000,000 | 1,171,210 | ||||||||||||
California Health Facilities Financing Authority |
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Childrens Hospital, Series A |
5.000 | 08-15-47 | 1,000,000 | 1,196,650 | ||||||||||||
California Health Facilities Financing Authority |
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City of Hope Obligated Group |
4.000 | 11-15-45 | 1,000,000 | 1,150,860 | ||||||||||||
California Health Facilities Financing Authority |
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El Camino Hospital |
5.000 | 02-01-42 | 1,000,000 | 1,202,290 | ||||||||||||
California Health Facilities Financing Authority |
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El Camino Hospital |
5.000 | 02-01-47 | 1,425,000 | 1,702,547 | ||||||||||||
California Health Facilities Financing Authority |
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Lucile Packard Childrens Hospital, Series B |
5.000 | 08-15-55 | 1,000,000 | 1,193,900 | ||||||||||||
California Health Facilities Financing Authority |
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Lucile Salter Packard Childrens Hospital, Series A |
5.000 | 08-15-43 | 1,000,000 | 1,143,650 | ||||||||||||
California Health Facilities Financing Authority |
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Sutter Health, Series A |
5.000 | 08-15-43 | 1,000,000 | 1,183,390 | ||||||||||||
California Housing Finance |
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Series A |
4.250 | 01-15-35 | 1,000,000 | 1,196,650 | ||||||||||||
California Municipal Finance Authority |
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Channing House Project, Series A (B) |
4.000 | 05-15-40 | 1,500,000 | 1,695,675 | ||||||||||||
California Municipal Finance Authority |
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Collegiate Housing Foundation Davis-I, LLC, West Village Student Housing Project |
5.000 | 05-15-33 | 1,000,000 | 1,246,270 | ||||||||||||
California Municipal Finance Authority |
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HumanGood Obligated Group, Series A |
5.000 | 10-01-44 | 1,000,000 | 1,184,760 | ||||||||||||
California Municipal Finance Authority |
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LINXS APM Project, Series A, AMT |
5.000 | 12-31-47 | 1,000,000 | 1,203,190 | ||||||||||||
California Municipal Finance Authority |
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Paradise Valley Estates Project, Series A (B) |
5.000 | 01-01-49 | 1,500,000 | 1,806,480 | ||||||||||||
California Municipal Finance Authority |
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Retirement Housing Foundation Obligation Group, Series A |
5.000 | 11-15-31 | 1,500,000 | 1,981,500 | ||||||||||||
California Municipal Finance Authority |
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William Jessup University |
5.000 | 08-01-39 | 1,500,000 | 1,735,950 | ||||||||||||
California Municipal Finance Authority |
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Wineville School Project, Series A (B) |
5.000 | 10-01-42 | 2,000,000 | 2,340,420 | ||||||||||||
California Pollution Control Financing Authority |
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Calplant I Project, AMT (A) |
7.500 | 07-01-32 | 1,300,000 | 1,361,100 | ||||||||||||
California Pollution Control Financing Authority |
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San Diego County Water Authority Desalination Project Pipeline (A) |
5.000 | 07-01-39 | 1,000,000 | 1,219,780 | ||||||||||||
California Pollution Control Financing Authority |
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San Diego County Water Authority Desalination Project Pipeline (A) |
5.000 | 11-21-45 | 1,500,000 | 1,812,915 |
2 JOHN HANCOCK CALIFORNIA TAX-FREE INCOME FUND | QUARTERLY REPORT | SEE NOTES TO FUNDS INVESTMENTS |
Rate (%) | Maturity date | Par value^ | Value | |||||||||||||
California (continued) |
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California Pollution Control Financing Authority |
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Waste Management, Inc., Series A1, AMT |
3.375 | 07-01-25 | 1,000,000 | $ | 1,102,680 | |||||||||||
California Pollution Control Financing Authority |
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Waste Management, Inc., Series A3, AMT |
4.300 | 07-01-40 | 4,675,000 | 5,311,361 | ||||||||||||
California Public Finance Authority |
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Henry Mayo Newhall Hospital |
5.000 | 10-15-47 | 2,000,000 | 2,288,440 | ||||||||||||
California Public Finance Authority |
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Trinity Classical Academy, Series A (A) |
5.000 | 07-01-44 | 110,000 | 117,201 | ||||||||||||
California Public Finance Authority |
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Trinity Classical Academy, Series A (A) |
5.000 | 07-01-54 | 325,000 | 343,590 | ||||||||||||
California School Finance Authority |
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Aspire Public Schools (A) |
5.000 | 08-01-46 | 3,275,000 | 3,686,700 | ||||||||||||
California School Finance Authority |
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Kipp LA Project, Series A (A) |
5.000 | 07-01-47 | 1,500,000 | 1,760,490 | ||||||||||||
California State Public Works Board |
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Various Capital Projects, Series A |
5.000 | 04-01-37 | 1,000,000 | 1,091,390 | ||||||||||||
California State Public Works Board |
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Various Correctional Facilities, Series A |
5.000 | 09-01-39 | 2,500,000 | 2,914,250 | ||||||||||||
California State University |
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College and University Revenue, Series A |
5.000 | 11-01-44 | 2,000,000 | 2,321,360 | ||||||||||||
California Statewide Communities Development Authority |
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Adventist Health System, Series A |
5.000 | 03-01-48 | 1,885,000 | 2,283,621 | ||||||||||||
California Statewide Communities Development Authority |
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American Baptist Homes West |
6.250 | 10-01-39 | 2,000,000 | 2,007,880 | ||||||||||||
California Statewide Communities Development Authority |
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CHF Irvine LLC |
5.000 | 05-15-40 | 2,735,000 | 3,220,271 | ||||||||||||
California Statewide Communities Development Authority |
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Front Porch Communities and Services, Series A |
5.000 | 04-01-47 | 500,000 | 593,165 | ||||||||||||
California Statewide Communities Development Authority |
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Infrastructure Program Revenue, Series B |
5.000 | 09-02-44 | 1,000,000 | 1,066,300 | ||||||||||||
California Statewide Communities Development Authority |
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Los Angeles Jewish Homes, Series S (B) |
5.000 | 08-01-44 | 2,625,000 | 2,943,203 | ||||||||||||
California Statewide Communities Development Authority |
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Redlands Community Hospital OB |
5.000 | 10-01-46 | 2,000,000 | 2,341,080 | ||||||||||||
California Statewide Communities Development Authority |
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Redwoods Project (B) |
5.375 | 11-15-44 | 1,500,000 | 1,740,810 | ||||||||||||
California Statewide Communities Development Authority |
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Senior Living of Southern California (A) |
7.250 | 11-15-41 | 1,700,000 | 1,720,774 | ||||||||||||
California Statewide Financing Authority |
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Tobacco Settlement, Series A |
6.000 | 05-01-37 | 2,500,000 | 2,516,450 | ||||||||||||
California Statewide Financing Authority |
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Tobacco Settlement, Series B |
6.000 | 05-01-37 | 3,000,000 | 3,019,740 | ||||||||||||
City of Belmont |
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Library Project, Series A (B) |
5.750 | 08-01-24 | 1,000,000 | 1,143,640 | ||||||||||||
City of Irvine |
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Community Facilities District |
5.000 | 09-01-49 | 2,000,000 | 2,220,100 | ||||||||||||
City of La Verne |
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Brethren Hillcrest Homes |
5.000 | 05-15-36 | 750,000 | 800,723 | ||||||||||||
City of Long Beach |
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Alamitos Bay Marina Project, Series 2015 |
5.000 | 05-15-45 | 1,000,000 | 1,135,360 | ||||||||||||
City of Long Beach |
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District 6-Pike Project |
6.250 | 10-01-26 | 2,265,000 | 2,268,420 | ||||||||||||
City of Long Beach |
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Series A |
5.000 | 05-15-49 | 2,000,000 | 2,532,080 | ||||||||||||
City of Los Angeles Department of Airports |
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Los Angeles International Airport, AMT |
5.000 | 05-15-43 | 2,000,000 | 2,483,740 | ||||||||||||
City of San Clemente |
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Community Facilities District, Series 2006-1 |
5.000 | 09-01-46 | 1,980,000 | 2,243,399 | ||||||||||||
City of San Francisco Public Utilities Commission |
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Green Bonds, Series A |
5.000 | 11-01-45 | 1,500,000 | 1,776,765 |
SEE NOTES TO FUNDS INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK CALIFORNIA TAX-FREE INCOME FUND 3 |
Rate (%) | Maturity date | Par value^ | Value | |||||||||||||
California (continued) |
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City of San Mateo |
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Community Facilities District, Series 2008-1 Bay Meadows |
5.500 | 09-01-44 | 2,000,000 | $ | 2,171,920 | |||||||||||
Foothill-Eastern Transportation Corridor Agency |
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Highway Revenue Tolls, Series A |
5.750 | 01-15-46 | 5,000,000 | 5,856,700 | ||||||||||||
Golden State Tobacco Securitization Corp. |
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Series A |
5.000 | 06-01-40 | 5,000,000 | 5,894,950 | ||||||||||||
Golden State Tobacco Securitization Corp. |
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Series A |
5.000 | 06-01-45 | 3,250,000 | 3,810,918 | ||||||||||||
Inland Valley Development Agency |
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Series A |
5.000 | 09-01-44 | 2,500,000 | 2,841,700 | ||||||||||||
Lancaster School District |
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School Improvements (B)(C) |
1.044 | 04-01-22 | 1,380,000 | 1,342,933 | ||||||||||||
Los Angeles Community Facilities District |
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Cascades Business Park |
6.400 | 09-01-22 | 310,000 | 313,432 | ||||||||||||
Los Angeles County Public Works Financing Authority |
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Series D |
5.000 | 12-01-45 | 3,000,000 | 3,572,100 | ||||||||||||
Los Angeles County Regional Financing Authority |
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Montecedro, Inc. Project, Series A (B) |
5.000 | 11-15-44 | 1,355,000 | 1,510,540 | ||||||||||||
Los Angeles Department of Water & Power |
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Power Systems, Series D |
5.000 | 07-01-44 | 1,000,000 | 1,163,590 | ||||||||||||
Marin Healthcare District |
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Election of 2013, GO |
4.000 | 08-01-45 | 1,000,000 | 1,096,120 | ||||||||||||
Morgan Hill Redevelopment Agency |
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Series A |
5.000 | 09-01-33 | 1,750,000 | 2,007,163 | ||||||||||||
M-S-R Energy Authority |
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Natural Gas Revenue, Series B |
6.500 | 11-01-39 | 1,500,000 | 2,396,055 | ||||||||||||
Norman Y. Mineta San Jose International Airport SJC |
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Series A, AMT |
5.000 | 03-01-47 | 3,000,000 | 3,567,300 | ||||||||||||
Oakland Unified School District/Alameda County |
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Election of 2012, GO |
6.625 | 08-01-38 | 1,000,000 | 1,108,870 | ||||||||||||
Oakland Unified School District/Alameda County |
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Series A, GO |
5.000 | 08-01-40 | 1,500,000 | 1,758,840 | ||||||||||||
Orange County Community Facilities District |
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2017-1 Esencia Village, Series A |
5.000 | 08-15-47 | 2,000,000 | 2,379,180 | ||||||||||||
Pacifica School District |
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Series C, GO (B)(C) |
1.576 | 08-01-26 | 1,000,000 | 896,050 | ||||||||||||
Port of Los Angeles |
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Series A, AMT |
5.000 | 08-01-44 | 2,000,000 | 2,302,800 | ||||||||||||
River Islands Public Financing Authority |
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Community Facilities District, Series 2003-1 |
5.000 | 09-01-48 | 1,250,000 | 1,418,300 | ||||||||||||
River Islands Public Financing Authority |
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Community Facilities District, Series 2003-1 |
5.500 | 09-01-45 | 2,000,000 | 2,182,860 | ||||||||||||
Riverside County Transportation Commission |
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Senior Lien, Series A |
5.750 | 06-01-48 | 1,000,000 | 1,116,690 | ||||||||||||
San Diego County Regional Airport Authority |
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Consol Rental Car Facilities, Series A |
5.000 | 07-01-44 | 4,925,000 | 5,673,846 | ||||||||||||
San Diego Public Facilities Financing Authority |
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Series A |
5.000 | 10-15-44 | 1,000,000 | 1,192,160 | ||||||||||||
San Diego Unified School District |
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Series I, GO (C) |
3.648 | 07-01-39 | 1,250,000 | 607,838 | ||||||||||||
San Francisco City & County Airport Commission International Airport |
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Special Facilities Lease, SFO Fuel Company LLC, Series A, AMT |
5.000 | 01-01-47 | 2,000,000 | 2,435,600 | ||||||||||||
San Francisco City & County Redevelopment Agency |
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Department of General Services Lease, No. 6, Mission Bay South, Series A |
5.150 | 08-01-35 | 1,250,000 | 1,257,075 | ||||||||||||
San Francisco City & County Redevelopment Agency |
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Mission Bay Project, Series A |
5.000 | 08-01-43 | 1,000,000 | 1,146,660 | ||||||||||||
San Joaquin Hills Transportation Corridor Agency |
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Highway Revenue Tolls, Escrowed to Maturity (C) |
0.992 | 01-01-22 | 6,500,000 | 6,349,525 | ||||||||||||
San Joaquin Hills Transportation Corridor Agency |
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Highway Revenue Tolls, Series A |
5.000 | 01-15-44 | 2,500,000 | 2,870,375 |
4 JOHN HANCOCK CALIFORNIA TAX-FREE INCOME FUND | QUARTERLY REPORT | SEE NOTES TO FUNDS INVESTMENTS |
Rate (%) | Maturity date | Par value^ | Value | |||||||||||||
California (continued) |
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San Mateo Joint Powers Financing Authority |
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Capital Projects Program (B) |
5.000 | 07-01-21 | 1,815,000 | $ | 1,909,289 | |||||||||||
Santa Ana Financing Authority |
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Police Administration & Holding Facility (B) |
6.250 | 07-01-24 | 5,000,000 | 5,711,200 | ||||||||||||
Santa Ana Financing Authority |
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Prerefunded, Police Administration & Holding Facility (B) |
6.250 | 07-01-24 | 5,000,000 | 5,760,450 | ||||||||||||
Santa Margarita Water District |
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Community Facilities District, Series 2013-1 |
5.625 | 09-01-43 | 775,000 | 863,265 | ||||||||||||
South Orange County Public Financing Authority |
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Series A |
5.000 | 08-15-33 | 1,000,000 | 1,085,810 | ||||||||||||
South Orange County Public Financing Authority |
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Series A |
5.000 | 08-15-34 | 450,000 | 488,214 | ||||||||||||
Southern California Public Power Authority |
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Apex Power Project, Series A |
5.000 | 07-01-38 | 1,000,000 | 1,161,620 | ||||||||||||
Southern California Public Power Authority |
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Natural Gas Project Revenue, Series A |
5.250 | 11-01-26 | 2,000,000 | 2,457,340 | ||||||||||||
State of California |
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Various Purpose, GO |
5.000 | 04-01-29 | 1,000,000 | 1,338,730 | ||||||||||||
State of California |
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Various Purpose, GO |
5.000 | 04-01-32 | 2,000,000 | 2,815,860 | ||||||||||||
Stockton Public Financing Authority |
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Delta Water Supply Project, Series A |
6.250 | 10-01-40 | 1,150,000 | 1,377,597 | ||||||||||||
Sweetwater Union High School District |
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Election of 2006, Series 2016 B, GO |
4.000 | 08-01-42 | 500,000 | 549,585 | ||||||||||||
Tobacco Securitization Authority of Southern California |
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Series A1 |
5.000 | 06-01-37 | 1,500,000 | 1,506,360 | ||||||||||||
University of California |
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Series AZ |
5.000 | 05-15-48 | 4,000,000 | 4,962,840 | ||||||||||||
West Covina Redevelopment Agency |
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Fashion Plaza |
6.000 | 09-01-22 | 2,825,000 | 3,024,643 | ||||||||||||
William S. Hart Union High School District |
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Community Facilities District, Series 2015-1 |
5.000 | 09-01-47 | 1,000,000 | 1,151,837 | ||||||||||||
Puerto Rico 0.9% |
1,974,747 | |||||||||||||||
|
|
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Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue |
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Series A-1 |
4.750 | 07-01-53 | 1,926,000 | 1,974,747 | ||||||||||||
Yield* (%) | Maturity date | Par value^ | Value | |||||||||||||
Short-term investments 1.2% (Cost $2,720,946) |
$ | 2,721,000 | ||||||||||||||
U.S. Government Agency 0.2% |
500,000 | |||||||||||||||
|
|
|||||||||||||||
Federal Agricultural Mortgage Corp. Discount Note |
2.030 | 09-03-19 | 250,000 | 250,000 | ||||||||||||
Federal Home Loan Bank Discount Note |
1.900 | 09-03-19 | 250,000 | 250,000 | ||||||||||||
Par value^ | Value | |||||||||||||||
Repurchase agreement 1.0% |
$ | 2,221,000 | ||||||||||||||
|
|
|||||||||||||||
Barclays Tri-Party Repurchase Agreement dated 8-30-19 at 2.120% to be repurchased at $2,099,494 on 9-3-19, collateralized by $1,698,300 U.S. Treasury Bonds, 3.125% due 5-15-48 (valued at $2,141,499, including interest) |
2,099,000 | 2,099,000 | ||||||||||||||
Repurchase Agreement with State Street Corp. dated 8-30-19 at 1.050% to be repurchased at $122,014 on 9-3-19, collateralized by $95,000 U.S. Treasury Bonds, 6.375% due 8-15-27 (valued at $130,074, including interest) |
122,000 | 122,000 | ||||||||||||||
Total investments (Cost $199,404,374) 99.0% |
$ | 217,587,005 | ||||||||||||||
Other assets and liabilities, net 1.0% |
2,136,912 | |||||||||||||||
Total net assets 100.0% |
$ | 219,723,917 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^ | All par values are denominated in U.S. dollars unless otherwise indicated. |
SEE NOTES TO FUNDS INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK CALIFORNIA TAX-FREE INCOME FUND 5 |
Security Abbreviations and Legend
AMT | Interest earned from these securities may be considered a tax preference item for purpose of the Federal Alternative Minimum Tax. |
GO | General Obligation |
(A) | 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. |
(B) | Bond is insured by one or more of the companies listed in the insurance coverage table below. |
(C) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
Insurance coverage | As a % of total investments |
|||
National Public Finance Guarantee Corp. |
6.6 | |||
California Mortgage Insurance |
4.5 | |||
Build America Mutual Assurance Company |
1.1 | |||
Assured Guaranty Municipal Corp. |
0.6 | |||
Ambac Financial Group, Inc. |
0.5 | |||
TOTAL |
13.3 |
The fund had the following sector composition as a percentage of net assets on 8-31-19:
General obligation bonds |
5.5 | % | ||
Revenue bonds |
92.3 | % | ||
Health care |
16.2 | % | ||
Facilities |
15.0 | % | ||
Other revenue |
12.6 | % | ||
Transportation |
10.2 | % | ||
Tobacco |
10.1 | % | ||
Education |
10.0 | % | ||
Airport |
5.9 | % | ||
Development |
5.4 | % | ||
Housing |
3.6 | % | ||
Utilities |
1.8 | % | ||
Water and sewer |
1.0 | % | ||
Pollution |
0.5 | % | ||
Short-term investments and other |
2.2 | % | ||
TOTAL |
100.0 | % |
6 JOHN HANCOCK CALIFORNIA TAX-FREE INCOME FUND | QUARTERLY REPORT | SEE NOTES TO FUNDS INVESTMENTS |
Notes to Funds investments (unaudited)
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value may be determined as of the regularly scheduled close of the NYSE pursuant to the funds Valuation Policies and Procedures.
In order to value the securities, the fund uses the following valuation techniques: Debt obligations are typically valued based on the evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the funds Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.
The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the funds own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
As of August 31, 2019, all investments are categorized as Level 2 under the hierarchy described above.
For additional information on the funds significant accounting policies, please refer to the funds most recent semiannual or annual shareholder report and prospectus.
7 |
More information
How to contact us
Internet | www.jhinvestments.com | |||
Regular mail: | Express mail: | |||
John Hancock Signature Services, Inc. | John Hancock Signature Services, Inc. | |||
P.O. Box 55913 | 2000 Crown Colony Drive | |||
Boston, MA 02205-5913 | Suite 55913 | |||
Quincy, MA 02169-0953 | ||||
Phone | Customer service representatives | 800-225-5291 | ||
EASI-Line | 800-338-8080 | |||
TDD line | 800-231-5469 |
53Q1 | 08/19 | |||
This report is for the information of the shareholders of John Hancock California Tax-Free Income Fund. | 10/19 |
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