# EDGAR Filing Document

**Accession Number:** 0000756913
**File Stem:** 0000756913-26-000009
**Filing Date:** 2026-3
**Character Count:** 1775565
**Document Hash:** 104c9ab5e5a530718f84a3087deabd13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000756913-26-000009.hdr.sgml**: 20260305

**ACCESSION NUMBER**: 0000756913-26-000009

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 85

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260305

**DATE AS OF CHANGE**: 20260304

**EFFECTIVENESS DATE**: 20260305

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JOHN HANCOCK VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0000756913

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04146
- **FILM NUMBER:** 26723270

**BUSINESS ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-663-3000

**MAIL ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JOHN HANCOCK TRUST
- **DATE OF NAME CHANGE:** 20050124

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANUFACTURERS INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19971022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NASL SERIES FUND INC
- **DATE OF NAME CHANGE:** 19881030

## Series and Classes Contracts Data

### Total Bond Market Trust (Series ID: S000008214)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022342 | NAV          | JAGUX           |
| C000117965 | Series I     | JTBMX           |
| C000117966 | Series II    | JAGVX           |

### Core Bond Trust (Series ID: S000008222)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022374 | NAV          | JVCNX           |
| C000022375 | Series I     | JADKX           |
| C000022376 | Series II    | JAAEX           |

### Opportunistic Fixed Income Trust (Series ID: S000008233)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022418 | NAV          | JAEKX           |
| C000022419 | Series I     | JAEJX           |
| C000022420 | Series II    | JAEHX           |

### Active Bond Trust (Series ID: S000008236)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022430 | NAV          | JAHDX           |
| C000022431 | Series I     | JAHFX           |
| C000022432 | Series II    | JAHEX           |

### High Yield Trust (Series ID: S000008240)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022446 | NAV          | JAEMX           |
| C000022447 | Series I     | JAELX           |
| C000022448 | Series II    | JAEOX           |

### Investment Quality Bond Trust (Series ID: S000008273)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022567 | NAV          | JAJNX           |
| C000022568 | Series I     | JADUX           |
| C000022569 | Series II    | JADSX           |

### Money Market Trust (Series ID: S000008290)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022640 | NAV          | JABXX           |
| C000022641 | Series I     | JHOXX           |
| C000022642 | Series II    | JAAXX           |

### Strategic Income Opportunities Trust (Series ID: S000008320)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022739 | NAV          | JVRNX           |
| C000022740 | Series I     | JESNX           |
| C000022741 | Series II    | JESPX           |

### Short Term Government Income Trust (Series ID: S000024662)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000073237 | NAV          | JAFYX           |
| C000073238 | Series I     | JAJPX           |
| C000073239 | Series II    | JAFWX           |

### Select Bond Trust (Series ID: S000026132)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000078285 | NAV          | JAGBX           |
| C000078286 | Series I     | JAFZX           |
| C000078287 | Series II    | JHBDX           |

### Ultra Short Term Bond Trust (Series ID: S000029542)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000090649 | Series I     | JAGJX           |
| C000090650 | Series II    | JAGEX           |
| C000090651 | NAV          | JAGFX           |

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#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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#### &nbsp;&nbsp;&nbsp;&nbsp; FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-04146

#### JOHN HANCOCK VARIABLE INSURANCE TRUST
(Exact name of registrant as specified in charter)

------

200 BERKELEY STREET, BOSTON, MA 02116

(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE

TREASURER

200 BERKELEY STREET

BOSTON, MA 02116

(Name and address of agent for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(617) 543-9634

#### Date of fiscal year end:

#### December 31

#### Date of reporting period:

#### December 31, 2025
ITEM 1. REPORTS TO STOCKHOLDERS

The Registrant prepared the following annual reports to shareholders for the year ended December 31, 2025:

* John Hancock Active Bond Trust 

* John Hancock Core Bond Trust 

* John Hancock High Yield Trust 

* John Hancock Investment Quality Bond Trust 

* John Hancock Money Market Trust 

* John Hancock Opportunistic Fixed Income Trust 

* John Hancock Select Bond Trust 

* John Hancock Short Term Government Income Trust 

* John Hancock Strategic Income Opportunities Trust 

* John Hancock Total Bond Market Trust 

* John Hancock Ultra Short Term Bond Trust 

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Active Bond Trust
Series I/JAHFX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Active Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Active Bond Trust<br>(Series I/JAHFX) | $73 | 0.70% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Active Bond Trust (Series I/JAHFX) returned 7.39% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income assets** \| Agency mortgage-backed securities were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6319310.jpg)

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| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Active Bond Trust (Series I/JAHFX) | 7.39% | 0.02% | 2.61% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$564477387 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1050 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$3278024 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;90% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 37.3% |
| U.S. Government Agency | 36.4% |
| U.S. Government | 14.0% |
| Asset-backed securities | 5.8% |
| Collateralized mortgage obligations – Commercial and residential | 4.1% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Term loans | 0.3% |
| Short-term investments and other | 1.1% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6319317.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ACTB-A-I

12/25

2/26

Active Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Active Bond Trust
Series II/JAHEX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Active Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Active Bond Trust<br>(Series II/JAHEX) | $93 | 0.90% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Active Bond Trust (Series II/JAHEX) returned 7.18% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income assets** \| Agency mortgage-backed securities were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6319294.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Active Bond Trust (Series II/JAHEX) | 7.18% | (0.17)% | 2.41% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$564477387 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1050 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$3278024 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;90% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 37.3% |
| U.S. Government Agency | 36.4% |
| U.S. Government | 14.0% |
| Asset-backed securities | 5.8% |
| Collateralized mortgage obligations – Commercial and residential | 4.1% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Term loans | 0.3% |
| Short-term investments and other | 1.1% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6319291.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ACTB-A-II

12/25

2/26

Active Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Active Bond Trust
Series NAV/JAHDX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Active Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Active Bond Trust<br>(Series NAV/JAHDX) | $67 | 0.65% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Active Bond Trust (Series NAV/JAHDX) returned 7.56% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income assets** \| Agency mortgage-backed securities were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6319270.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Active Bond Trust (Series NAV/JAHDX) | 7.56% | 0.09% | 2.67% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$564477387 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1050 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$3278024 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;90% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 37.3% |
| U.S. Government Agency | 36.4% |
| U.S. Government | 14.0% |
| Asset-backed securities | 5.8% |
| Collateralized mortgage obligations – Commercial and residential | 4.1% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Term loans | 0.3% |
| Short-term investments and other | 1.1% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6319265.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ACTB-A-NAV

12/25

2/26

Active Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Core Bond Trust
Series I/JADKX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Core Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Core Bond Trust<br>(Series I/JADKX) | $69 | 0.67% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Core Bond Trust (Series I/JADKX) returned 6.94% for the year ended December 31, 2025. Investment-grade fixed income bonds performed well during the period, with attractive yields, the resumption of interest rate cuts by the Federal Reserve late in the year and continued strength in U.S. economic conditions. The yield curve steepened considerably, while credit and mortgage spreads tightened on fundamental improvement and strong demand.

#### TOP PERFORMANCE CONTRIBUTORS
**Mortgage-backed securities** \| Positions in agency mortgage-backed securities, including passthroughs and collateralized mortgage obligations (CMOs), were among the largest contributors to performance. Mortgage-backed securities had a strong year as lower interest rates, a steeper yield curve, and falling interest rate volatility all supported valuations and demand.

**Corporate bonds** \| Holdings in corporate bonds across industrial, utility, and financial subsectors contributed to performance. Corporate bonds benefited from resilient economic conditions, prospects for deregulation, and strong demand from domestic and foreign investors.

#### TOP PERFORMANCE DETRACTORS
**Long-dated Treasuries** \| Certain holdings in longer-dated Treasuries detracted from performance, as the yield curve steepened and long-term interest rates actually rose slightly during the period.

**Oracle Corp.** \| Positioning in Oracle Corp. detracted as investors grew more concerned about the company's level of investment in artificial intelligence initiatives.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6318416.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Core Bond Trust (Series I/JADKX) | 6.94% | (0.57)% | 1.91% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$798934939 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;986 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$4457967 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;234% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 28.2% |
| U.S. Government | 25.0% |
| Corporate bonds | 24.2% |
| Collateralized mortgage obligations – U.S. Government Agency | 12.6% |
| Asset-backed securities | 6.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.5% |
| Foreign government obligations | 1.3% |
| Municipal bonds | 0.1% |
| Short-term investments and other | 0.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6318423.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CRBT-A-I

12/25

2/26

Core Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Core Bond Trust
Series II/JAAEX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Core Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Core Bond Trust<br>(Series II/JAAEX) | $90 | 0.87% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Core Bond Trust (Series II/JAAEX) returned 6.77% for the year ended December 31, 2025. Investment-grade fixed income bonds performed well during the period, with attractive yields, the resumption of interest rate cuts by the Federal Reserve late in the year and continued strength in U.S. economic conditions. The yield curve steepened considerably, while credit and mortgage spreads tightened on fundamental improvement and strong demand.

#### TOP PERFORMANCE CONTRIBUTORS
**Mortgage-backed securities** \| Positions in agency mortgage-backed securities, including passthroughs and collateralized mortgage obligations (CMOs), were among the largest contributors to performance. Mortgage-backed securities had a strong year as lower interest rates, a steeper yield curve, and falling interest rate volatility all supported valuations and demand.

**Corporate bonds** \| Holdings in corporate bonds across industrial, utility, and financial subsectors contributed to performance. Corporate bonds benefited from resilient economic conditions, prospects for deregulation, and strong demand from domestic and foreign investors.

#### TOP PERFORMANCE DETRACTORS
**Long-dated Treasuries** \| Certain holdings in longer-dated Treasuries detracted from performance, as the yield curve steepened and long-term interest rates actually rose slightly during the period.

**Oracle Corp.** \| Positioning in Oracle Corp. detracted as investors grew more concerned about the company's level of investment in artificial intelligence initiatives.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6318400.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Core Bond Trust (Series II/JAAEX) | 6.77% | (0.78)% | 1.70% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$798934939 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;986 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$4457967 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;234% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 28.2% |
| U.S. Government | 25.0% |
| Corporate bonds | 24.2% |
| Collateralized mortgage obligations – U.S. Government Agency | 12.6% |
| Asset-backed securities | 6.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.5% |
| Foreign government obligations | 1.3% |
| Municipal bonds | 0.1% |
| Short-term investments and other | 0.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6318397.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CRBT-A-II

12/25

2/26

Core Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Core Bond Trust
Series NAV/JVCNX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Core Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Core Bond Trust<br>(Series NAV/JVCNX) | $64 | 0.62% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Core Bond Trust (Series NAV/JVCNX) returned 7.03% for the year ended December 31, 2025. Investment-grade fixed income bonds performed well during the period, with attractive yields, the resumption of interest rate cuts by the Federal Reserve late in the year and continued strength in U.S. economic conditions. The yield curve steepened considerably, while credit and mortgage spreads tightened on fundamental improvement and strong demand.

#### TOP PERFORMANCE CONTRIBUTORS
**Mortgage-backed securities** \| Positions in agency mortgage-backed securities, including passthroughs and collateralized mortgage obligations (CMOs), were among the largest contributors to performance. Mortgage-backed securities had a strong year as lower interest rates, a steeper yield curve, and falling interest rate volatility all supported valuations and demand.

**Corporate bonds** \| Holdings in corporate bonds across industrial, utility, and financial subsectors contributed to performance. Corporate bonds benefited from resilient economic conditions, prospects for deregulation, and strong demand from domestic and foreign investors.

#### TOP PERFORMANCE DETRACTORS
**Long-dated Treasuries** \| Certain holdings in longer-dated Treasuries detracted from performance, as the yield curve steepened and long-term interest rates actually rose slightly during the period.

**Oracle Corp.** \| Positioning in Oracle Corp. detracted as investors grew more concerned about the company's level of investment in artificial intelligence initiatives.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6318376.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Core Bond Trust (Series NAV/JVCNX) | 7.03% | (0.52)% | 1.96% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$798934939 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;986 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$4457967 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;234% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 28.2% |
| U.S. Government | 25.0% |
| Corporate bonds | 24.2% |
| Collateralized mortgage obligations – U.S. Government Agency | 12.6% |
| Asset-backed securities | 6.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.5% |
| Foreign government obligations | 1.3% |
| Municipal bonds | 0.1% |
| Short-term investments and other | 0.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6318371.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CRBT-A-NAV

12/25

2/26

Core Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust High Yield Trust
Series I/JAELX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the High Yield Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### This report describes changes to the fund that occurred during the reporting period.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| High Yield Trust<br>(Series I/JAELX) | $74 | 0.71% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
High Yield Trust (Series I/JAELX) returned 7.46% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Holdings in high yield and investment-grade corporate bonds were meaningful contributors to performance.

#### TOP PERFORMANCE DETRACTORS
**Bank loans** \| Bank loans were the only asset category that detracted from absolute fund performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6316815.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| High Yield Trust (Series I/JAELX) | 7.46% | 3.97% | 6.07% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| ICE BofA U.S. High Yield Index | 8.50% | 4.50% | 6.45% |
| Bloomberg U.S. High Yield 2% Issuer Capped Index | 8.62% | 4.50% | 6.52% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$183369388 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;500 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$811069 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;147% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 94.2% |
| Term loans | 1.9% |
| Preferred securities | 0.4% |
| Common stocks | 0.1% |
| Short-term investments and other | 3.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6316822.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

**Material Fund Changes**

At a meeting held on September 24-26, 2024, the Board of Trustees of the Trust (the Board) approved changes to the fund's subadvisory arrangements such that effective February 7, 2025, Western Asset Management Company, LLC was replaced by Manulife Investment Management (US) LLC as the fund's subadvisor.

At the same meeting, the Board approved a change in the fund's management fee schedule effective February 7, 2025 whereby the annual rate is as follows: a) 0.625% of the first $75 million of aggregate net assets; b) 0.5625% of the next $75 million of aggregate net assets; c) 0.500% of the next $350 million of aggregate net assets; d) 0.475% of the next $2 billion of aggregate net assets; and e) 0.450% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the fund and John Hancock High Yield Fund, a series of John Hancock Bond Trust.

Effective February 7, 2025, the fund's investment objective is as follows: The fund seeks high current income. Capital appreciation is a secondary goal.

Additionally, effective February 7, 2025, the following risks were added to the fund's "Principal Risks" in the "Fund Summary" section of the Prospectus for the fund: Default debt risk; ESG integration risk; High portfolio turnover risk; Illiquid and restricted securities risk; Large company risk; Small and mid-sized company risk; and U.S. government agency obligations risk. Repurchase agreements risk was removed.

In connection with the Board actions described above, the principal investment strategies of the fund have been revised. The purpose of these changes was to align the fund with the investment approach of the new subadvisor. Specifically, the strategies were revised to reflect the new subadvisor's focus on industry allocation and securities selection, deciding which types of industries to emphasize at a given time and then which individual securities to buy. This includes a top-down analysis to determine which industries may benefit from current and future changes in the economy and bottom-up research to find securities that appear comparatively undervalued.

*This is a summary of certain changes to the fund since 1-1-25 . For more complete information, please refer to the fund's prospectus. The currently effective prospectus is available at dfinview.com/johnhancock?site=funds or by calling 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.*

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

HIYI-A-I

12/25

2/26

High Yield Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust High Yield Trust
Series II/JAEOX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the High Yield Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### This report describes changes to the fund that occurred during the reporting period.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| High Yield Trust<br>(Series II/JAEOX) | $94 | 0.91% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
High Yield Trust (Series II/JAEOX) returned 7.25% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Holdings in high yield and investment-grade corporate bonds were meaningful contributors to performance.

#### TOP PERFORMANCE DETRACTORS
**Bank loans** \| Bank loans were the only asset category that detracted from absolute fund performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6316787.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| High Yield Trust (Series II/JAEOX) | 7.25% | 3.74% | 5.86% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| ICE BofA U.S. High Yield Index | 8.50% | 4.50% | 6.45% |
| Bloomberg U.S. High Yield 2% Issuer Capped Index | 8.62% | 4.50% | 6.52% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$183369388 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;500 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$811069 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;147% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 94.2% |
| Term loans | 1.9% |
| Preferred securities | 0.4% |
| Common stocks | 0.1% |
| Short-term investments and other | 3.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6316796.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

**Material Fund Changes**

At a meeting held on September 24-26, 2024, the Board of Trustees of the Trust (the Board) approved changes to the fund's subadvisory arrangements such that effective February 7, 2025, Western Asset Management Company, LLC was replaced by Manulife Investment Management (US) LLC as the fund's subadvisor.

At the same meeting, the Board approved a change in the fund's management fee schedule effective February 7, 2025 whereby the annual rate is as follows: a) 0.625% of the first $75 million of aggregate net assets; b) 0.5625% of the next $75 million of aggregate net assets; c) 0.500% of the next $350 million of aggregate net assets; d) 0.475% of the next $2 billion of aggregate net assets; and e) 0.450% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the fund and John Hancock High Yield Fund, a series of John Hancock Bond Trust.

Effective February 7, 2025, the fund's investment objective is as follows: The fund seeks high current income. Capital appreciation is a secondary goal.

Additionally, effective February 7, 2025, the following risks were added to the fund's "Principal Risks" in the "Fund Summary" section of the Prospectus for the fund: Default debt risk; ESG integration risk; High portfolio turnover risk; Illiquid and restricted securities risk; Large company risk; Small and mid-sized company risk; and U.S. government agency obligations risk. Repurchase agreements risk was removed.

In connection with the Board actions described above, the principal investment strategies of the fund have been revised. The purpose of these changes was to align the fund with the investment approach of the new subadvisor. Specifically, the strategies were revised to reflect the new subadvisor's focus on industry allocation and securities selection, deciding which types of industries to emphasize at a given time and then which individual securities to buy. This includes a top-down analysis to determine which industries may benefit from current and future changes in the economy and bottom-up research to find securities that appear comparatively undervalued.

*This is a summary of certain changes to the fund since 1-1-25 . For more complete information, please refer to the fund's prospectus. The currently effective prospectus is available at dfinview.com/johnhancock?site=funds or by calling 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.*

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

HIYI-A-II

12/25

2/26

High Yield Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust High Yield Trust
Series NAV/JAEMX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the High Yield Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### This report describes changes to the fund that occurred during the reporting period.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| High Yield Trust<br>(Series NAV/JAEMX) | $68 | 0.66% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
High Yield Trust (Series NAV/JAEMX) returned 7.45% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Holdings in high yield and investment-grade corporate bonds were meaningful contributors to performance.

#### TOP PERFORMANCE DETRACTORS
**Bank loans** \| Bank loans were the only asset category that detracted from absolute fund performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6316763.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| High Yield Trust (Series NAV/JAEMX) | 7.45% | 4.02% | 6.14% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| ICE BofA U.S. High Yield Index | 8.50% | 4.50% | 6.45% |
| Bloomberg U.S. High Yield 2% Issuer Capped Index | 8.62% | 4.50% | 6.52% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$183369388 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;500 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$811069 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;147% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 94.2% |
| Term loans | 1.9% |
| Preferred securities | 0.4% |
| Common stocks | 0.1% |
| Short-term investments and other | 3.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6316770.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

**Material Fund Changes**

At a meeting held on September 24-26, 2024, the Board of Trustees of the Trust (the Board) approved changes to the fund's subadvisory arrangements such that effective February 7, 2025, Western Asset Management Company, LLC was replaced by Manulife Investment Management (US) LLC as the fund's subadvisor.

At the same meeting, the Board approved a change in the fund's management fee schedule effective February 7, 2025 whereby the annual rate is as follows: a) 0.625% of the first $75 million of aggregate net assets; b) 0.5625% of the next $75 million of aggregate net assets; c) 0.500% of the next $350 million of aggregate net assets; d) 0.475% of the next $2 billion of aggregate net assets; and e) 0.450% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the fund and John Hancock High Yield Fund, a series of John Hancock Bond Trust.

Effective February 7, 2025, the fund's investment objective is as follows: The fund seeks high current income. Capital appreciation is a secondary goal.

Additionally, effective February 7, 2025, the following risks were added to the fund's "Principal Risks" in the "Fund Summary" section of the Prospectus for the fund: Default debt risk; ESG integration risk; High portfolio turnover risk; Illiquid and restricted securities risk; Large company risk; Small and mid-sized company risk; and U.S. government agency obligations risk. Repurchase agreements risk was removed.

In connection with the Board actions described above, the principal investment strategies of the fund have been revised. The purpose of these changes was to align the fund with the investment approach of the new subadvisor. Specifically, the strategies were revised to reflect the new subadvisor's focus on industry allocation and securities selection, deciding which types of industries to emphasize at a given time and then which individual securities to buy. This includes a top-down analysis to determine which industries may benefit from current and future changes in the economy and bottom-up research to find securities that appear comparatively undervalued.

*This is a summary of certain changes to the fund since 1-1-25 . For more complete information, please refer to the fund's prospectus. The currently effective prospectus is available at dfinview.com/johnhancock?site=funds or by calling 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.*

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

HIYI-A-NAV

12/25

2/26

High Yield Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Investment Quality Bond Trust
Series I/JADUX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Investment Quality Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Investment Quality Bond Trust<br>(Series I/JADUX) | $80 | 0.77% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Investment Quality Bond Trust (Series I/JADUX) returned 6.97% for the year ended December 31, 2025. Most fixed income sectors generated positive total returns during the year, as coupon income and periods of spread tightening helped offset the impact of volatile, and in some regions, higher global sovereign yields.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The portfolio's duration positioning was the largest contributor to performance over the period. Interest payments were significant contributors to return.

**Allocation to structured finance sectors** \| Non-agency mortgage-backed securities and commercial mortgage-backed securities were meaningful contributors.

**Agency mortgage-backed securities (MBS)** \| Exposure to MBS passthroughs also aided results.

#### TOP PERFORMANCE DETRACTORS
**No detractors** \| At a time of broadly positive performance for the world financial markets, no asset categories detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6316408.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Investment Quality Bond Trust (Series I/JADUX) | 6.97% | (0.47)% | 2.37% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$214195631 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;861 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1242170 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;49% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 33.1% |
| U.S. Government Agency | 23.1% |
| Corporate bonds | 22.2% |
| Collateralized mortgage obligations – Commercial and residential | 9.2% |
| Asset-backed securities | 5.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.8% |
| Foreign government obligations | 1.5% |
| Municipal bonds | 0.8% |
| Short-term investments | 2.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6316405.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

INQB-A-I

12/25

2/26

Investment Quality Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Investment Quality Bond Trust
Series II/JADSX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Investment Quality Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Investment Quality Bond Trust<br>(Series II/JADSX) | $100 | 0.97% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Investment Quality Bond Trust (Series II/JADSX) returned 6.67% for the year ended December 31, 2025. Most fixed income sectors generated positive total returns during the year, as coupon income and periods of spread tightening helped offset the impact of volatile, and in some regions, higher global sovereign yields.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The portfolio's duration positioning was the largest contributor to performance over the period. Interest payments were significant contributors to return.

**Allocation to structured finance sectors** \| Non-agency mortgage-backed securities and commercial mortgage-backed securities were meaningful contributors.

**Agency mortgage-backed securities (MBS)** \| Exposure to MBS passthroughs also aided results.

#### TOP PERFORMANCE DETRACTORS
**No detractors** \| At a time of broadly positive performance for the world financial markets, no asset categories detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6316373.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Investment Quality Bond Trust (Series II/JADSX) | 6.67% | (0.69)% | 2.16% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$214195631 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;861 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1242170 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;49% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 33.1% |
| U.S. Government Agency | 23.1% |
| Corporate bonds | 22.2% |
| Collateralized mortgage obligations – Commercial and residential | 9.2% |
| Asset-backed securities | 5.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.8% |
| Foreign government obligations | 1.5% |
| Municipal bonds | 0.8% |
| Short-term investments | 2.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6316380.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

INQB-A-II

12/25

2/26

Investment Quality Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Investment Quality Bond Trust
Series NAV/JAJNX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Investment Quality Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Investment Quality Bond Trust<br>(Series NAV/JAJNX) | $74 | 0.72% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Investment Quality Bond Trust (Series NAV/JAJNX) returned 6.94% for the year ended December 31, 2025. Most fixed income sectors generated positive total returns during the year, as coupon income and periods of spread tightening helped offset the impact of volatile, and in some regions, higher global sovereign yields.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The portfolio's duration positioning was the largest contributor to performance over the period. Interest payments were significant contributors to return.

**Allocation to structured finance sectors** \| Non-agency mortgage-backed securities and commercial mortgage-backed securities were meaningful contributors.

**Agency mortgage-backed securities (MBS)** \| Exposure to MBS passthroughs also aided results.

#### TOP PERFORMANCE DETRACTORS
**No detractors** \| At a time of broadly positive performance for the world financial markets, no asset categories detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6316356.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Investment Quality Bond Trust (Series NAV/JAJNX) | 6.94% | (0.44)% | 2.41% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$214195631 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;861 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1242170 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;49% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 33.1% |
| U.S. Government Agency | 23.1% |
| Corporate bonds | 22.2% |
| Collateralized mortgage obligations – Commercial and residential | 9.2% |
| Asset-backed securities | 5.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.8% |
| Foreign government obligations | 1.5% |
| Municipal bonds | 0.8% |
| Short-term investments | 2.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6316365.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

INQB-A-NAV

12/25

2/26

Investment Quality Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Money Market Trust
Series I/JHOXX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Money Market Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Money Market Trust<br>(Series I/JHOXX) | $34 | 0.33% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2172994723 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;107 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$5379581 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average Maturity** | &nbsp;&nbsp;&nbsp;&nbsp;43 Days |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 56.0% |
| Repurchase agreement | 27.4% |
| U.S. Government | 16.6% |

---

**Maturity Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6313143.jpg)

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MMT-A-I

12/25

2/26

Money Market Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Money Market Trust
Series II/JAAXX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Money Market Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Money Market Trust<br>(Series II/JAAXX) | $54 | 0.53% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2172994723 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;107 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$5379581 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average Maturity** | &nbsp;&nbsp;&nbsp;&nbsp;43 Days |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 56.0% |
| Repurchase agreement | 27.4% |
| U.S. Government | 16.6% |

---

**Maturity Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6313116.jpg)

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MMT-A-II

12/25

2/26

Money Market Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Money Market Trust
Series NAV/JABXX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Money Market Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Money Market Trust<br>(Series NAV/JABXX) | $29 | 0.28% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2172994723 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;107 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$5379581 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average Maturity** | &nbsp;&nbsp;&nbsp;&nbsp;43 Days |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 56.0% |
| Repurchase agreement | 27.4% |
| U.S. Government | 16.6% |

---

**Maturity Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6313091.jpg)

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MMT-A-NAV

12/25

2/26

Money Market Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Opportunistic Fixed Income Trust
Series I/JAEJX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Opportunistic Fixed Income Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Opportunistic Fixed Income Trust<br>(Series I/JAEJX) | $87 | 0.83% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Opportunistic Fixed Income Trust (Series I/JAEJX) returned 9.51% for the year ended December 31, 2025. Most fixed income sectors generated positive total returns during the trailing twelve months as coupon income and periods of spread tightening helped offset the impact of volatile and higher global sovereign yields in some regions. Most spread sectors produced positive excess returns over duration-equivalent government bonds, with higher-yielding and emerging market sectors leading the outperformance. Political instability and policy uncertainty were prominent, with leadership changes in France and Japan, and the US experiencing its longest government shutdown on record.

#### TOP PERFORMANCE CONTRIBUTORS
**Duration and yield curve** \| At the aggregate portfolio level, duration and yield curve positioning was one of the top contributors to positive total returns overall. Currency and credit exposure were also additive to results.

**Strategic sector** \| Positive total returns were driven by strategic sector positions. Within the strategic sector, emerging market opportunities positioning was the largest positive contributor, in particular exposure to local debt had a favorable impact.

#### TOP PERFORMANCE DETRACTORS
**Relative value** \| Within the fund's relative value theme, exposure to discretionary macro rates had a negative impact on performance.

**Tactical** \| Our duration management strategies within the tactical return driver detracted.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6313078.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Opportunistic Fixed Income Trust (Series I/JAEJX) | 9.51% | 0.57% | 3.19% |
| Bloomberg Global Aggregate Bond (USD Hedged) Index | 4.86% | 0.34% | 2.39% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$143364371 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1239 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$714692 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;157% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Foreign government obligations | 39.1% |
| U.S. Government Agency | 17.6% |
| Corporate bonds | 13.9% |
| Convertible bonds | 9.4% |
| U.S. Government | 5.5% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.8% |
| Asset-backed securities | 2.7% |
| Term loans | 2.7% |
| Preferred securities | 2.6% |
| Collateralized mortgage obligations – Commercial and residential | 2.5% |
| Exchange-traded funds | 0.1% |
| Short-term investments | 1.1% |

---

**Country Composition**

---

| | |
|:---|:---|
| United States | 52.4% |
| Brazil | 6.4% |
| Czech Republic | 4.7% |
| Norway | 3.9% |
| Australia | 3.7% |
| India | 2.7% |
| Japan | 2.5% |
| South Korea | 2.4% |
| United Kingdom | 2.3% |
| Colombia | 1.8% |
| Other countries | 17.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_6313081.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

OPFI-A-I

12/25

2/26

Opportunistic Fixed Income Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Opportunistic Fixed Income Trust
Series II/JAEHX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Opportunistic Fixed Income Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Opportunistic Fixed Income Trust<br>(Series II/JAEHX) | $108 | 1.03% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Opportunistic Fixed Income Trust (Series II/JAEHX) returned 9.20% for the year ended December 31, 2025. Most fixed income sectors generated positive total returns during the trailing twelve months as coupon income and periods of spread tightening helped offset the impact of volatile and higher global sovereign yields in some regions. Most spread sectors produced positive excess returns over duration-equivalent government bonds, with higher-yielding and emerging market sectors leading the outperformance. Political instability and policy uncertainty were prominent, with leadership changes in France and Japan, and the US experiencing its longest government shutdown on record.

#### TOP PERFORMANCE CONTRIBUTORS
**Duration and yield curve** \| At the aggregate portfolio level, duration and yield curve positioning was one of the top contributors to positive total returns overall. Currency and credit exposure were also additive to results.

**Strategic sector** \| Positive total returns were driven by strategic sector positions. Within the strategic sector, emerging market opportunities positioning was the largest positive contributor, in particular exposure to local debt had a favorable impact.

#### TOP PERFORMANCE DETRACTORS
**Relative value** \| Within the fund's relative value theme, exposure to discretionary macro rates had a negative impact on performance.

**Tactical** \| Our duration management strategies within the tactical return driver detracted.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6313054.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Opportunistic Fixed Income Trust (Series II/JAEHX) | 9.20% | 0.37% | 2.99% |
| Bloomberg Global Aggregate Bond (USD Hedged) Index | 4.86% | 0.34% | 2.39% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$143364371 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1239 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$714692 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;157% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Foreign government obligations | 39.1% |
| U.S. Government Agency | 17.6% |
| Corporate bonds | 13.9% |
| Convertible bonds | 9.4% |
| U.S. Government | 5.5% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.8% |
| Asset-backed securities | 2.7% |
| Term loans | 2.7% |
| Preferred securities | 2.6% |
| Collateralized mortgage obligations – Commercial and residential | 2.5% |
| Exchange-traded funds | 0.1% |
| Short-term investments | 1.1% |

---

**Country Composition**

---

| | |
|:---|:---|
| United States | 52.4% |
| Brazil | 6.4% |
| Czech Republic | 4.7% |
| Norway | 3.9% |
| Australia | 3.7% |
| India | 2.7% |
| Japan | 2.5% |
| South Korea | 2.4% |
| United Kingdom | 2.3% |
| Colombia | 1.8% |
| Other countries | 17.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_6313063.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

OPFI-A-II

12/25

2/26

Opportunistic Fixed Income Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Opportunistic Fixed Income Trust
Series NAV/JAEKX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Opportunistic Fixed Income Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Opportunistic Fixed Income Trust<br>(Series NAV/JAEKX) | $82 | 0.78% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Opportunistic Fixed Income Trust (Series NAV/JAEKX) returned 9.60% for the year ended December 31, 2025. Most fixed income sectors generated positive total returns during the trailing twelve months as coupon income and periods of spread tightening helped offset the impact of volatile and higher global sovereign yields in some regions. Most spread sectors produced positive excess returns over duration-equivalent government bonds, with higher-yielding and emerging market sectors leading the outperformance. Political instability and policy uncertainty were prominent, with leadership changes in France and Japan, and the US experiencing its longest government shutdown on record.

#### TOP PERFORMANCE CONTRIBUTORS
**Duration and yield curve** \| At the aggregate portfolio level, duration and yield curve positioning was one of the top contributors to positive total returns overall. Currency and credit exposure were also additive to results.

**Strategic sector** \| Positive total returns were driven by strategic sector positions. Within the strategic sector, emerging market opportunities positioning was the largest positive contributor, in particular exposure to local debt had a favorable impact.

#### TOP PERFORMANCE DETRACTORS
**Relative value** \| Within the fund's relative value theme, exposure to discretionary macro rates had a negative impact on performance.

**Tactical** \| Our duration management strategies within the tactical return driver detracted.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6313036.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Opportunistic Fixed Income Trust (Series NAV/JAEKX) | 9.60% | 0.62% | 3.25% |
| Bloomberg Global Aggregate Bond (USD Hedged) Index | 4.86% | 0.34% | 2.39% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$143364371 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1239 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$714692 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;157% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Foreign government obligations | 39.1% |
| U.S. Government Agency | 17.6% |
| Corporate bonds | 13.9% |
| Convertible bonds | 9.4% |
| U.S. Government | 5.5% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.8% |
| Asset-backed securities | 2.7% |
| Term loans | 2.7% |
| Preferred securities | 2.6% |
| Collateralized mortgage obligations – Commercial and residential | 2.5% |
| Exchange-traded funds | 0.1% |
| Short-term investments | 1.1% |

---

**Country Composition**

---

| | |
|:---|:---|
| United States | 52.4% |
| Brazil | 6.4% |
| Czech Republic | 4.7% |
| Norway | 3.9% |
| Australia | 3.7% |
| India | 2.7% |
| Japan | 2.5% |
| South Korea | 2.4% |
| United Kingdom | 2.3% |
| Colombia | 1.8% |
| Other countries | 17.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_6313039.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

OPFI-A-NAV

12/25

2/26

Opportunistic Fixed Income Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Select Bond Trust
Series I/JAFZX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Select Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Select Bond Trust<br>(Series I/JAFZX) | $65 | 0.63% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Select Bond Trust (Series I/JAFZX) returned 7.47% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Agency mortgage-backed securities and investment-grade corporate bonds were meaningful contributors to overall performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6312811.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Select Bond Trust (Series I/JAFZX) | 7.47% | (0.32)% | 2.21% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5652493110 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;854 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$30577221 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;107% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 38.9% |
| Corporate bonds | 29.9% |
| U.S. Government | 15.7% |
| Asset-backed securities | 7.6% |
| Collateralized mortgage obligations – Commercial and residential | 5.2% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Municipal bonds | 0.4% |
| Short-term investments and other | 1.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6312820.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SELB-A-I

12/25

2/26

Select Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Select Bond Trust
Series II/JHBDX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Select Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Select Bond Trust<br>(Series II/JHBDX) | $86 | 0.83% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Select Bond Trust (Series II/JHBDX) returned 7.36% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Agency mortgage-backed securities and investment-grade corporate bonds were meaningful contributors to overall performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6312788.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Select Bond Trust (Series II/JHBDX) | 7.36% | (0.51)% | 2.01% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5652493110 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;854 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$30577221 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;107% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 38.9% |
| Corporate bonds | 29.9% |
| U.S. Government | 15.7% |
| Asset-backed securities | 7.6% |
| Collateralized mortgage obligations – Commercial and residential | 5.2% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Municipal bonds | 0.4% |
| Short-term investments and other | 1.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6312795.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SELB-A-II

12/25

2/26

Select Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Select Bond Trust
Series NAV/JAGBX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Select Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Select Bond Trust<br>(Series NAV/JAGBX) | $61 | 0.59% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Select Bond Trust (Series NAV/JAGBX) returned 7.52% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Agency mortgage-backed securities and investment-grade corporate bonds were meaningful contributors to overall performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6312771.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Select Bond Trust (Series NAV/JAGBX) | 7.52% | (0.27)% | 2.26% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5652493110 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;854 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$30577221 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;107% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 38.9% |
| Corporate bonds | 29.9% |
| U.S. Government | 15.7% |
| Asset-backed securities | 7.6% |
| Collateralized mortgage obligations – Commercial and residential | 5.2% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Municipal bonds | 0.4% |
| Short-term investments and other | 1.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6312768.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SELB-A-NAV

12/25

2/26

Select Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Short Term Government Income Trust
Series I/JAJPX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Short Term Government Income Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Short Term Government Income Trust<br>(Series I/JAJPX) | $72 | 0.70% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Short Term Government Income Trust (Series I/JAJPX) returned 5.14% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Agency mortgage-backed securities also contributed to overall performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| U.S. Treasuries detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6312695.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Short Term Government Income Trust (Series I/JAJPX) | 5.14% | 0.64% | 1.21% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Bloomberg U.S. Government 1-5 Year Bond Index | 5.83% | 1.29% | 1.82% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$243072346 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;91 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1287182 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;487% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 52.6% |
| U.S. Government Agency | 45.0% |
| Municipal bonds | 1.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.3% |
| Short-term investments and other | 0.5% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6312702.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SHTG-A-I

12/25

2/26

Short Term Government Income Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Short Term Government Income Trust
Series II/JAFWX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Short Term Government Income Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Short Term Government Income Trust<br>(Series II/JAFWX) | $92 | 0.90% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Short Term Government Income Trust (Series II/JAFWX) returned 4.95% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Agency mortgage-backed securities also contributed to overall performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| U.S. Treasuries detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6312678.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Short Term Government Income Trust (Series II/JAFWX) | 4.95% | 0.43% | 1.01% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Bloomberg U.S. Government 1-5 Year Bond Index | 5.83% | 1.29% | 1.82% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$243072346 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;91 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1287182 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;487% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 52.6% |
| U.S. Government Agency | 45.0% |
| Municipal bonds | 1.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.3% |
| Short-term investments and other | 0.5% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6312687.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SHTG-A-II

12/25

2/26

Short Term Government Income Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Short Term Government Income Trust
Series NAV/JAFYX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Short Term Government Income Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Short Term Government Income Trust<br>(Series NAV/JAFYX) | $67 | 0.65% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Short Term Government Income Trust (Series NAV/JAFYX) returned 5.09% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Agency mortgage-backed securities also contributed to overall performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| U.S. Treasuries detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6312730.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Short Term Government Income Trust (Series NAV/JAFYX) | 5.09% | 0.67% | 1.25% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Bloomberg U.S. Government 1-5 Year Bond Index | 5.83% | 1.29% | 1.82% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$243072346 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;91 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1287182 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;487% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 52.6% |
| U.S. Government Agency | 45.0% |
| Municipal bonds | 1.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.3% |
| Short-term investments and other | 0.5% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6312727.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SHTG-A-NAV

12/25

2/26

Short Term Government Income Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Strategic Income Opportunities Trust
Series I/JESNX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Strategic Income Opportunities Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Strategic Income Opportunities Trust<br>(Series I/JESNX) | $83 | 0.80% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Strategic Income Opportunities Trust (Series I/JESNX) returned 7.51% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Both investment-grade corporate bonds and high yield corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**Emerging market credit** \| The fund's emerging market credit positions detracted from absolute performance.

**Municipal bonds** \| Municipal bond securities also detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311895.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Strategic Income Opportunities Trust (Series I/JESNX) | 7.51% | 1.55% | 3.21% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$262554275 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;474 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$2138516 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;73% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 45.2% |
| Foreign government obligations | 19.0% |
| Term loans | 9.0% |
| U.S. Government Agency | 6.0% |
| U.S. Government | 4.2% |
| Preferred securities | 4.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 3.0% |
| Collateralized mortgage obligations – Commercial and residential | 2.2% |
| Asset-backed securities | 1.7% |
| Convertible bonds | 1.7% |
| Short-term investments and other | 4.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311902.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

STIO-A-I

12/25

2/26 Strategic Income Opportunities Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Strategic Income Opportunities Trust
Series II/JESPX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Strategic Income Opportunities Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Strategic Income Opportunities Trust<br>(Series II/JESPX) | $104 | 1.00% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Strategic Income Opportunities Trust (Series II/JESPX) returned 7.22% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Both investment-grade corporate bonds and high yield corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**Emerging market credit** \| The fund's emerging market credit positions detracted from absolute performance.

**Municipal bonds** \| Municipal bond securities also detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311878.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Strategic Income Opportunities Trust (Series II/JESPX) | 7.22% | 1.34% | 3.00% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$262554275 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;474 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$2138516 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;73% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 45.2% |
| Foreign government obligations | 19.0% |
| Term loans | 9.0% |
| U.S. Government Agency | 6.0% |
| U.S. Government | 4.2% |
| Preferred securities | 4.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 3.0% |
| Collateralized mortgage obligations – Commercial and residential | 2.2% |
| Asset-backed securities | 1.7% |
| Convertible bonds | 1.7% |
| Short-term investments and other | 4.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311875.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

STIO-A-II

12/25

2/26

Strategic Income Opportunities Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Strategic Income Opportunities Trust
Series NAV/JVRNX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Strategic Income Opportunities Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Strategic Income Opportunities Trust<br>(Series NAV/JVRNX) | $78 | 0.75% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Strategic Income Opportunities Trust (Series NAV/JVRNX) returned 7.51% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Both investment-grade corporate bonds and high yield corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**Emerging market credit** \| The fund's emerging market credit positions detracted from absolute performance.

**Municipal bonds** \| Municipal bond securities also detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311918.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Strategic Income Opportunities Trust (Series NAV/JVRNX) | 7.51% | 1.61% | 3.26% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$262554275 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;474 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$2138516 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;73% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 45.2% |
| Foreign government obligations | 19.0% |
| Term loans | 9.0% |
| U.S. Government Agency | 6.0% |
| U.S. Government | 4.2% |
| Preferred securities | 4.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 3.0% |
| Collateralized mortgage obligations – Commercial and residential | 2.2% |
| Asset-backed securities | 1.7% |
| Convertible bonds | 1.7% |
| Short-term investments and other | 4.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311915.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

STIO-A-NAV

12/25

2/26 Strategic Income Opportunities Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Total Bond Market Trust
Series I/JTBMX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Total Bond Market Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Bond Market Trust<br>(Series I/JTBMX) | $31 | 0.30% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Total Bond Market Trust (Series I/JTBMX) returned 6.86% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| U.S. agency mortgage-backed securities and investment-grade corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311803.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Total Bond Market Trust (Series I/JTBMX) | 6.86% | (0.70)% | 1.69% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1078346165 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1138 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$2082336 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;55% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 46.5% |
| U.S. Government Agency | 24.8% |
| Corporate bonds | 24.8% |
| Collateralized mortgage obligations – Commercial and residential | 1.3% |
| Foreign government obligations | 0.8% |
| Asset-backed securities | 0.4% |
| Municipal bonds | 0.3% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.1% |
| Short-term investments and other | 1.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311810.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TBMT-A-I

12/25

2/26

Total Bond Market Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Total Bond Market Trust
Series II/JAGVX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Total Bond Market Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Bond Market Trust<br>(Series II/JAGVX) | $52 | 0.50% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Total Bond Market Trust (Series II/JAGVX) returned 6.67% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| U.S. agency mortgage-backed securities and investment-grade corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311786.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Total Bond Market Trust (Series II/JAGVX) | 6.67% | (0.91)% | 1.48% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1078346165 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1138 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$2082336 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;55% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 46.5% |
| U.S. Government Agency | 24.8% |
| Corporate bonds | 24.8% |
| Collateralized mortgage obligations – Commercial and residential | 1.3% |
| Foreign government obligations | 0.8% |
| Asset-backed securities | 0.4% |
| Municipal bonds | 0.3% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.1% |
| Short-term investments and other | 1.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311783.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TBMT-A-II

12/25

2/26

Total Bond Market Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Total Bond Market Trust
Series NAV/JAGUX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Total Bond Market Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Bond Market Trust<br>(Series NAV/JAGUX) | $26 | 0.25% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Total Bond Market Trust (Series NAV/JAGUX) returned 6.91% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| U.S. agency mortgage-backed securities and investment-grade corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**U.S. Treasuries** \| The fund's portfolio allocation in U.S. Treasury securities detracted from performance on an absolute basis.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311826.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Total Bond Market Trust (Series NAV/JAGUX) | 6.91% | (0.65)% | 1.75% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1078346165 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1138 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$2082336 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;55% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 46.5% |
| U.S. Government Agency | 24.8% |
| Corporate bonds | 24.8% |
| Collateralized mortgage obligations – Commercial and residential | 1.3% |
| Foreign government obligations | 0.8% |
| Asset-backed securities | 0.4% |
| Municipal bonds | 0.3% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.1% |
| Short-term investments and other | 1.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311835.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TBMT-A-NAV

12/25

2/26

Total Bond Market Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Ultra Short Term Bond Trust
Series I/JAGJX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Ultra Short Term Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Ultra Short Term Bond Trust<br>(Series I/JAGJX) | $62 | 0.61% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Ultra Short Term Bond Trust (Series I/JAGJX) returned 4.29% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Investment-grade corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**No detractors** \| At a time of broadly positive performance for the world financial markets, no asset categories detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311268.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Ultra Short Term Bond Trust (Series I/JAGJX) | 4.29% | 2.48% | 1.95% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| ICE BofA 6-Month U.S. Treasury Bill Index | 4.28% | 3.22% | 2.32% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$201338285 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;200 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1063534 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 55.0% |
| Asset-backed securities | 23.0% |
| U.S. Government Agency | 0.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.1% |
| Collateralized mortgage obligations – Commercial and residential | 0.1% |
| Short-term investments and other | 21.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311275.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ULST-A-I

12/25

2/26

Ultra Short Term Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Ultra Short Term Bond Trust
Series II/JAGEX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Ultra Short Term Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Ultra Short Term Bond Trust<br>(Series II/JAGEX) | $83 | 0.81% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Ultra Short Term Bond Trust (Series II/JAGEX) returned 4.02% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Investment-grade corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**No detractors** \| At a time of broadly positive performance for the world financial markets, no asset categories detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311291.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Ultra Short Term Bond Trust (Series II/JAGEX) | 4.02% | 2.27% | 1.75% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| ICE BofA 6-Month U.S. Treasury Bill Index | 4.28% | 3.22% | 2.32% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$201338285 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;200 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1063534 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 55.0% |
| Asset-backed securities | 23.0% |
| U.S. Government Agency | 0.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.1% |
| Collateralized mortgage obligations – Commercial and residential | 0.1% |
| Short-term investments and other | 21.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311300.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ULST-A-II

12/25

2/26

Ultra Short Term Bond Trust

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Ultra Short Term Bond Trust
Series NAV/JAGFX

#### Annual SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about the Ultra Short Term Bond Trust (the fund) for the period of January 1, 2025 to December 31, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last year ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Ultra Short Term Bond Trust<br>(Series NAV/JAGFX) | $57 | 0.56% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Ultra Short Term Bond Trust (Series NAV/JAGFX) returned 4.34% for the year ended December 31, 2025. The fixed income market delivered broad gains in 2025 as attractive yields, tighter credit spreads, and strong performance across U.S. and emerging market sectors supported returns. The U.S. Federal Reserve's three late-year rate cuts contributed to a steepening yield curve, lowering short-term yields while longer maturities rose amid fiscal and tariff related volatility, further boosting bond performance.

#### TOP PERFORMANCE CONTRIBUTORS
**Yield positioning and interest payments** \| The fund was well positioned for a steepening of the yield curve which occurred during the period. Interest payments were significant contributors to return.

**Fixed income securities** \| Investment-grade corporate bonds were meaningful contributors to absolute performance.

#### TOP PERFORMANCE DETRACTORS
**No detractors** \| At a time of broadly positive performance for the world financial markets, no asset categories detracted from absolute performance.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

#### Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6311251.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Ultra Short Term Bond Trust (Series NAV/JAGFX) | 4.34% | 2.52% | 2.01% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| ICE BofA 6-Month U.S. Treasury Bill Index | 4.28% | 3.22% | 2.32% |

---

**Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. In addition, performance does not reflect fees and expenses of any variable insurance contract which may use John Hancock Variable Insurance Trust as its underlying investment option. If such fees and expenses had been reflected, performance would be lower. It is not possible to invest directly in an index.**

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$201338285 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;200 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$1063534 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 55.0% |
| Asset-backed securities | 23.0% |
| U.S. Government Agency | 0.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.1% |
| Collateralized mortgage obligations – Commercial and residential | 0.1% |
| Short-term investments and other | 21.4% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_6311260.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 12-31-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5444.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ULST-A-NAV

12/25

2/26

Ultra Short Term Bond Trust

------

ITEM 2. CODE OF ETHICS.

As of the end of the year, December 31, 2025, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

------

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Frances G. Rathke and William K. Bacic are audit committee financial experts and are "independent", pursuant to general instructions on Form N-CSR Item 3.

------

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Audit Fees

The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to $703,306 and $691,795 for the fiscal years ended December 31, 2025 and December 31, 2024, respectively. These fees were billed to the registrant and were approved by the registrant's audit committee.

(b) Audit-Related Services

Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was a software licensing fee. Amounts billed to the registrant were $130 and $0 for fiscal years ended December 31, 2025 and December 31, 2024, respectively.

(c) Tax Fees

The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to $42,875 and $42,875 for the fiscal years ended December 31, 2025 and December 31, 2024, respectively. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.

(d) All Other Fees

Other fees amounted to $0 and $0 for the fiscal years ended December 31, 2025 and December 31, 2024, respectively.

(e)(1) Audit Committee Pre-Approval Policies and Procedures

The registrant's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The registrant's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre-approval by the Audit Committee.

All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.

(e)(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X

Audit-Related Fees, Tax Fees and All Other Fees

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f) According to the registrant's principal accountant for the fiscal year ended December 31, 2025, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.

(g) The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $1,357,667 for the fiscal year ended December 31, 2025 and $910,379 for the fiscal year ended December 31, 2024.

(h) The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.

------

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:

Frances G. Rathke – Chairperson

William H. Cunningham - retired effective December 31, 2025

William K. Bacic

Thomas R. Wright - effective January 1, 2026

------

ITEM 6. SCHEDULE OF INVESTMENTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Refer to information included in Item 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

------

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The Registrant prepared financial statements and financial highlights for the year ended December 31, 2025 for the following funds:

John Hancock Variable Insurance Trust - Bond Trusts

* John Hancock Active Bond Trust

* John Hancock Core Bond Trust

* John Hancock High Yield Trust

* John Hancock Investment Quality Bond Trust

* John Hancock Money Market Trust

* John Hancock Opportunistic Fixed Income Trust

* John Hancock Select Bond Trust

* John Hancock Short Term Government Income Trust

* John Hancock Strategic Income Opportunities Trust

* John Hancock Total Bond Market Trust

* John Hancock Ultra Short Term Bond Trust

------

![](img97bdf1c51.gif)

![](img60bd215a2.gif)

## JOHN HANCOCK

## Variable Insurance Trust

### Bond Trusts
Annual Financial Statements & Other N-CSR Items

December 31, 2025

------

## John Hancock Variable Insurance Trust

#### Annual Financial Statements & Other N-CSR Items — Table of contents

------

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_1)[(See below for each portfolio's page #)](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_1)<br>**  | **3** |
| **[Statements of assets and liabilities](#xx_ef5c4932-85f2-4199-a4e1-34742f8cd210_1)<br>**  | **122** |
| **[Statements of operations](#xx_a370d8fc-2c0b-4caa-80bb-15f757d0a270_1)<br>**  | **125** |
| **[Statements of changes in net assets](#xx_32af8541-6a2f-4a7a-b563-25e12b21a378_1)<br>**  | **128** |
| **[Financial highlights](#xx_e7d6d75a-32dc-426c-a014-c9782dfa752c_1)<br>**  | **130** |
| **[Notes to financial statements](#xx_e3e1c5a9-d2ec-44ff-8324-d0fcaae4c5b4_1)<br>**  | **136** |
| **[Report of independent registered public accounting firm](#xx_9018142b-a5a2-4dd9-8ed9-6806b98cc784_1)<br>**  | **157** |
| **[Shareholder meeting](#xx_4d81bf70-5b2c-4e15-8eb7-be2760c6750a_1)<br>**  | **158** |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Active Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_1) | [Active Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_1) | 3 |
| [Core Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_16) | [Core Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_16) | 18 |
| [High Yield Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_29) | [High Yield Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_29) | 31 |
| [Investment Quality Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_37) | [Investment Quality Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_37) | 39 |
| [Money Market Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_52) | [Money Market Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_52) | 54 |
| [Opportunistic Fixed Income Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_53) | [Opportunistic Fixed Income Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_53) | 55 |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Select Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_78) | [Select Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_78) | 80 |
| [Short Term Government Income Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_90) | [Short Term Government Income Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_90) | 92 |
| [Strategic Income Opportunities Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_92) | [Strategic Income Opportunities Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_92) | 94 |
| [Total Bond Market Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_102) | [Total Bond Market Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_102) | 104 |
| [Ultra Short Term Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_114) | [Ultra Short Term Bond Trust](#xx_4ee94875-0577-461f-ae52-1c9d1a66f6ee_114) | 116 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 50.4%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 50.4%** |  |
| **U.S. Government – 14.0%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957344 |
| &nbsp;&nbsp;&nbsp;1.375%, 08/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14529000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7143614 |
| &nbsp;&nbsp;&nbsp;1.625%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15489000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8131725 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586194 |
| &nbsp;&nbsp;&nbsp;2.000%, 02/15/2050 to 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10049000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5887231 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4687000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3319348 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000540 |
| &nbsp;&nbsp;&nbsp;3.375%, 11/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925807 |
| &nbsp;&nbsp;&nbsp;4.750%, 08/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11022000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10835990 |
| &nbsp;&nbsp;&nbsp;4.875%, 08/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5896575 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;1.625%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424479 |
| &nbsp;&nbsp;&nbsp;3.500%, 11/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2733000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2705457 |
| &nbsp;&nbsp;&nbsp;3.625%, 12/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8522000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8481387 |
| &nbsp;&nbsp;&nbsp;3.875%, 12/31/2032 to 08/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5409000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5364899 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10302000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10153909 |
| &nbsp;&nbsp;&nbsp;4.250%, 06/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3142623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78957122 |
| **U.S. Government Agency – 36.4%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508424 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2051 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217005 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2043 to 08/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6791081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6139094 |
| &nbsp;&nbsp;&nbsp;3.500%, 10/01/2046 to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14454096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13530290 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/01/2041 to 01/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10461920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10020020 |
| &nbsp;&nbsp;&nbsp;4.500%, 12/01/2037 to 02/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17205522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16971264 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/01/2052 to 12/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15831599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15928879 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/01/2053 to 09/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8477134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8697021 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 04/01/2037 to 12/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2848068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397255 |
| &nbsp;&nbsp;&nbsp;2.500%, 01/01/2036 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11928719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10414900 |
| &nbsp;&nbsp;&nbsp;3.000%, 01/01/2043 to 05/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28383874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25491825 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2042 to 08/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24546472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22958127 |
| &nbsp;&nbsp;&nbsp;4.000%, 09/01/2041 to 09/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24830050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23830491 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/01/2037 to 08/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18074975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17822201 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2034 to 12/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18722200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18863500 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/01/2034 to 09/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9697222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9929880 |
| &nbsp;&nbsp;&nbsp;6.355%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.605%), 08/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19068 |
| &nbsp;&nbsp;&nbsp;6.622%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 2.122%), 07/01/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8838 |
| &nbsp;&nbsp;&nbsp;7.000%, 09/01/2031 to 01/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32025 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2029 to 05/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4612 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 02/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553432 |
| &nbsp;&nbsp;&nbsp;6.000%, 03/15/2033 to 06/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54531 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/15/2028 to 08/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5029 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6964 |
| &nbsp;&nbsp;&nbsp;8.000%, 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205406161 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $295,138,735) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $295,138,735) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284363283 |
| **CORPORATE BONDS – 37.3%** | **CORPORATE BONDS – 37.3%** |  |
| **Communication services – 2.7%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 06/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961557 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311227 |
| Cable One, Inc.<br> 4.000%, 11/15/2030 (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221257 |

---

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2031 (B) | $&nbsp;&nbsp;324000 | $&nbsp;&nbsp;&nbsp;&nbsp;297707 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/01/2032 | &nbsp;&nbsp;218000 | &nbsp;&nbsp;&nbsp;&nbsp;195663 |
| &nbsp;&nbsp;&nbsp;7.375%, 03/01/2031 (B) | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;269409 |
| Charter Communications Operating LLC<br> 6.384%, 10/23/2035 | &nbsp;&nbsp;941000 | &nbsp;&nbsp;&nbsp;&nbsp;971164 |
| Cipher Compute LLC<br> 7.125%, 11/15/2030 (B) | &nbsp;&nbsp;181000 | &nbsp;&nbsp;&nbsp;&nbsp;184345 |
| GCI LLC<br> 4.750%, 10/15/2028 (B) | &nbsp;&nbsp;486000 | &nbsp;&nbsp;&nbsp;&nbsp;473980 |
| Gray Media, Inc.<br> 10.500%, 07/15/2029 (B) | &nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;435513 |
| IHS Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, 05/29/2030 (B) | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;351230 |
| &nbsp;&nbsp;&nbsp;8.250%, 11/29/2031 (B) | &nbsp;&nbsp;542000 | &nbsp;&nbsp;&nbsp;&nbsp;565330 |
| Iliad Holding SAS |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 04/15/2032 (B) | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;479254 |
| &nbsp;&nbsp;&nbsp;8.500%, 04/15/2031 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;215250 |
| Level 3 Financing, Inc.<br> 6.875%, 06/30/2033 (B) | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;670247 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 11/15/2030 | &nbsp;&nbsp;622000 | &nbsp;&nbsp;&nbsp;&nbsp;623314 |
| &nbsp;&nbsp;&nbsp;4.600%, 11/15/2032 | &nbsp;&nbsp;414000 | &nbsp;&nbsp;&nbsp;&nbsp;417328 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/15/2055 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;230345 |
| Millicom International Cellular SA |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 03/25/2029 (B) | &nbsp;&nbsp;304200 | &nbsp;&nbsp;&nbsp;&nbsp;306960 |
| &nbsp;&nbsp;&nbsp;7.375%, 04/02/2032 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;207845 |
| News Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 05/15/2029 (B) | &nbsp;&nbsp;403000 | &nbsp;&nbsp;&nbsp;&nbsp;391017 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/15/2032 (B) | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;221780 |
| NTT Finance Corp.<br> 5.171%, 07/16/2032 (B) | &nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp;367320 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 05/19/2032 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;171667 |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2043 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;208667 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/19/2050 | &nbsp;&nbsp;689000 | &nbsp;&nbsp;&nbsp;&nbsp;482493 |
| ROBLOX Corp.<br> 3.875%, 05/01/2030 (B) | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;707497 |
| Sirius XM Radio LLC<br> 4.000%, 07/15/2028 (B) | &nbsp;&nbsp;148000 | &nbsp;&nbsp;&nbsp;&nbsp;144680 |
| T-Mobile USA, Inc.<br> 3.875%, 04/15/2030 | 1654000 | &nbsp;&nbsp;&nbsp;1626502 |
| Verizon Communications, Inc.<br> 2.550%, 03/21/2031 | &nbsp;&nbsp;647000 | &nbsp;&nbsp;&nbsp;&nbsp;590836 |
| Vodafone Group PLC<br> 7.000%, (7.000% to 4-4-29, then 5 Year U.S. Swap Rate + 4.873% to 4-4-49, then 5 Year U.S. Swap Rate + 5.623%), 04/04/2079 | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;478809 |
| WarnerMedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.279%, 03/15/2032 | &nbsp;&nbsp;294000 | &nbsp;&nbsp;&nbsp;&nbsp;258079 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2042 | &nbsp;&nbsp;589000 | &nbsp;&nbsp;&nbsp;&nbsp;414509 |
| Windstream Services LLC<br> 8.250%, 10/01/2031 (B) | &nbsp;&nbsp;218000 | &nbsp;&nbsp;&nbsp;&nbsp;228850 |
| WMG Acquisition Corp.<br> 3.875%, 07/15/2030 (B) | &nbsp;&nbsp;362000 | &nbsp;&nbsp;&nbsp;&nbsp;347201 |
|  |  | 15028832 |
| **Consumer discretionary – 3.6%** |  |  |
| Acushnet Company<br> 5.625%, 12/01/2033 (B) | &nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97079 |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/15/2029 (B) | &nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;&nbsp;125843 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/01/2030 | &nbsp;&nbsp;344000 | &nbsp;&nbsp;&nbsp;&nbsp;339113 |
| Brightstar Lottery PLC<br> 5.750%, 01/15/2033 (B) | &nbsp;&nbsp;372000 | &nbsp;&nbsp;&nbsp;&nbsp;369335 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>3</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Brookfield Residential Properties, Inc.<br> 5.000%, 06/15/2029 (B) | $&nbsp;&nbsp;&nbsp;&nbsp;94000 | $&nbsp;&nbsp;&nbsp;&nbsp;90928 |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 05/01/2029 (B) | &nbsp;&nbsp;419000 | &nbsp;&nbsp;&nbsp;&nbsp;423646 |
| &nbsp;&nbsp;&nbsp;5.750%, 08/01/2032 (B) | 1127000 | 1156619 |
| &nbsp;&nbsp;&nbsp;5.875%, 06/15/2031 (B) | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;471004 |
| Century Communities, Inc.<br> 3.875%, 08/15/2029 (B) | &nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;179703 |
| Dealer Tire LLC<br> 8.000%, 02/01/2028 (B) | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;280222 |
| Flutter Treasury DAC<br> 5.875%, 06/04/2031 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;202780 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 11/13/2030 | 1176000 | 1109784 |
| &nbsp;&nbsp;&nbsp;5.113%, 05/03/2029 | &nbsp;&nbsp;728000 | &nbsp;&nbsp;&nbsp;&nbsp;729124 |
| &nbsp;&nbsp;&nbsp;5.800%, 03/08/2029 | &nbsp;&nbsp;337000 | &nbsp;&nbsp;&nbsp;&nbsp;344328 |
| &nbsp;&nbsp;&nbsp;6.125%, 03/08/2034 | 1195000 | 1214433 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 06/21/2030 | 1451000 | 1397692 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/04/2034 | 1423000 | 1489278 |
| Global Auto Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.750%, 01/15/2032 (B) | &nbsp;&nbsp;689000 | &nbsp;&nbsp;&nbsp;&nbsp;661543 |
| &nbsp;&nbsp;&nbsp;11.500%, 08/15/2029 (B) | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;329866 |
| Hilton Domestic Operating Company, Inc.<br> 5.500%, 03/31/2034 (B) | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;291992 |
| Hilton Grand Vacations Borrower LLC<br> 6.625%, 01/15/2032 (B) | &nbsp;&nbsp;401000 | &nbsp;&nbsp;&nbsp;&nbsp;411020 |
| KB Home<br> 4.000%, 06/15/2031 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;203609 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 06/01/2029 (B) | &nbsp;&nbsp;176000 | &nbsp;&nbsp;&nbsp;&nbsp;170179 |
| &nbsp;&nbsp;&nbsp;4.375%, 01/15/2031 (B) | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;327729 |
| &nbsp;&nbsp;&nbsp;5.500%, 10/01/2030 (B) | &nbsp;&nbsp;306000 | &nbsp;&nbsp;&nbsp;&nbsp;307215 |
| Macy's Retail Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 03/15/2030 (B) | &nbsp;&nbsp;182000 | &nbsp;&nbsp;&nbsp;&nbsp;182922 |
| &nbsp;&nbsp;&nbsp;6.125%, 03/15/2032 (B) | &nbsp;&nbsp;213000 | &nbsp;&nbsp;&nbsp;&nbsp;215583 |
| &nbsp;&nbsp;&nbsp;7.375%, 08/01/2033 (B) | &nbsp;&nbsp;372000 | &nbsp;&nbsp;&nbsp;&nbsp;394304 |
| Marriott Ownership Resorts, Inc.<br> 6.500%, 10/01/2033 (B) | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;357821 |
| MercadoLibre, Inc.<br> 4.900%, 01/15/2033 | &nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;361382 |
| MGM Resorts International<br> 4.750%, 10/15/2028 | &nbsp;&nbsp;402000 | &nbsp;&nbsp;&nbsp;&nbsp;401034 |
| Midwest Gaming Borrower LLC<br> 4.875%, 05/01/2029 (B) | &nbsp;&nbsp;496000 | &nbsp;&nbsp;&nbsp;&nbsp;487882 |
| NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 01/15/2031 (B) | &nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;248058 |
| &nbsp;&nbsp;&nbsp;6.250%, 09/15/2033 (B) | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;229903 |
| &nbsp;&nbsp;&nbsp;6.750%, 02/01/2032 (B) | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;393186 |
| Rakuten Group, Inc.<br> 9.750%, 04/15/2029 (B) | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;389224 |
| Rivers Enterprise Borrower LLC<br> 6.625%, 02/01/2033 (B) | &nbsp;&nbsp;334000 | &nbsp;&nbsp;&nbsp;&nbsp;341463 |
| Rivers Enterprise Lender LLC<br> 6.250%, 10/15/2030 (B) | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;107177 |
| Royal Caribbean Cruises, Ltd.<br> 5.375%, 01/15/2036 | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;198829 |
| S&S Holdings LLC<br> 8.375%, 10/01/2031 (B) | &nbsp;&nbsp;426000 | &nbsp;&nbsp;&nbsp;&nbsp;408205 |
| Taylor Morrison Communities, Inc.<br> 5.750%, 11/15/2032 (B) | &nbsp;&nbsp;&nbsp;&nbsp;79000 | &nbsp;&nbsp;&nbsp;&nbsp;81282 |
| The Michaels Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/01/2028 (B) | &nbsp;&nbsp;449000 | &nbsp;&nbsp;&nbsp;&nbsp;431650 |
| &nbsp;&nbsp;&nbsp;7.875%, 05/01/2029 (B) | &nbsp;&nbsp;229000 | &nbsp;&nbsp;&nbsp;&nbsp;211389 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| TopBuild Corp.<br> 5.625%, 01/31/2034 (B) | $380000 | $&nbsp;&nbsp;&nbsp;&nbsp;384403 |
| Travel + Leisure Company |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 03/01/2030 (B) | 101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98481 |
| &nbsp;&nbsp;&nbsp;6.125%, 09/01/2033 (B) | 439000 | &nbsp;&nbsp;&nbsp;&nbsp;445607 |
| Under Armour, Inc.<br> 7.250%, 07/15/2030 (B) | 101000 | &nbsp;&nbsp;&nbsp;&nbsp;101098 |
| Valvoline, Inc.<br> 3.625%, 06/15/2031 (B) | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;284859 |
| Viking Cruises, Ltd.<br> 5.875%, 10/15/2033 (B) | 447000 | &nbsp;&nbsp;&nbsp;&nbsp;453912 |
| Wayfair LLC<br> 6.750%, 11/15/2032 (B) | 224000 | &nbsp;&nbsp;&nbsp;&nbsp;230290 |
|  |  | 20164008 |
| **Consumer staples – 0.7%** |  |  |
| Albertsons Companies, Inc.<br> 5.750%, 03/31/2034 (B) | 311000 | &nbsp;&nbsp;&nbsp;&nbsp;312258 |
| Froneri Lux FinCo SARL<br> 6.000%, 08/01/2032 (B) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;202730 |
| JBS USA Lux SA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 | 527000 | &nbsp;&nbsp;&nbsp;&nbsp;493152 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | 466000 | &nbsp;&nbsp;&nbsp;&nbsp;486836 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/20/2035 (B) | 133000 | &nbsp;&nbsp;&nbsp;&nbsp;139848 |
| MARB BondCo PLC<br> 3.950%, 01/29/2031 (B) | 712000 | &nbsp;&nbsp;&nbsp;&nbsp;645159 |
| Mars, Inc.<br> 5.000%, 03/01/2032 (B) | 323000 | &nbsp;&nbsp;&nbsp;&nbsp;332930 |
| NBM US Holdings, Inc.<br> 6.625%, 08/06/2029 (B) | 448000 | &nbsp;&nbsp;&nbsp;&nbsp;452928 |
| Pilgrim's Pride Corp.<br> 6.250%, 07/01/2033 | 671000 | &nbsp;&nbsp;&nbsp;&nbsp;717306 |
|  |  | &nbsp;&nbsp;&nbsp;3783147 |
| **Energy – 5.3%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 01/15/2030 (B) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;145075 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2031 (B) | 289000 | &nbsp;&nbsp;&nbsp;&nbsp;278969 |
| Antero Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 10/15/2033 (B) | 374000 | &nbsp;&nbsp;&nbsp;&nbsp;376259 |
| &nbsp;&nbsp;&nbsp;5.750%, 07/01/2034 (B) | 428000 | &nbsp;&nbsp;&nbsp;&nbsp;431236 |
| &nbsp;&nbsp;&nbsp;6.625%, 02/01/2032 (B) | 446000 | &nbsp;&nbsp;&nbsp;&nbsp;461648 |
| Ascent Resources Utica Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 06/30/2029 (B) | 433000 | &nbsp;&nbsp;&nbsp;&nbsp;434136 |
| &nbsp;&nbsp;&nbsp;6.625%, 10/15/2032 (B) | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;149729 |
| &nbsp;&nbsp;&nbsp;6.625%, 07/15/2033 (B) | 172000 | &nbsp;&nbsp;&nbsp;&nbsp;178028 |
| Blue Racer Midstream LLC<br> 7.250%, 07/15/2032 (B) | 430000 | &nbsp;&nbsp;&nbsp;&nbsp;456347 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;5.550%, 10/30/2035 (B) | 267000 | &nbsp;&nbsp;&nbsp;&nbsp;272975 |
| &nbsp;&nbsp;&nbsp;5.950%, 06/30/2033 | 558000 | &nbsp;&nbsp;&nbsp;&nbsp;591688 |
| Columbia Pipelines Holding<br> Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.999%, 11/17/2032 (B) | 378000 | &nbsp;&nbsp;&nbsp;&nbsp;377966 |
| &nbsp;&nbsp;&nbsp;5.681%, 01/15/2034 (B) | 721000 | &nbsp;&nbsp;&nbsp;&nbsp;742867 |
| Columbia Pipelines Operating Company LLC<br> 6.036%, 11/15/2033 (B) | 447000 | &nbsp;&nbsp;&nbsp;&nbsp;478495 |
| Comstock Resources, Inc.<br> 5.875%, 01/15/2030 (B) | 226000 | &nbsp;&nbsp;&nbsp;&nbsp;219820 |
| Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 04/01/2032 (B) | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;287985 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2031 (B) | 499000 | &nbsp;&nbsp;&nbsp;&nbsp;511667 |
| Devon Energy Corp.<br> 5.200%, 09/15/2034 | 223000 | &nbsp;&nbsp;&nbsp;&nbsp;222017 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 06/15/2031 (B) | 954000 | &nbsp;&nbsp;&nbsp;&nbsp;934006 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>4</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| DT Midstream, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.800%, 12/15/2034 (B) | $214000 | $222088 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, (5.500% to 7-15-27, then 3 month CME Term SOFR + 3.680% to 7-15-47, then 3 month CME Term SOFR + 4.430%), 07/15/2077 | 507000 | 502378 |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 7-15-30, then 5 Year CMT + 5.314% to 7-15-50, then 5 Year CMT + 6.064%), 07/15/2080 | 629000 | 634976 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-1-28, then 3 month CME Term SOFR + 3.903% to 3-1-48, then 3 month CME Term SOFR + 4.653%), 03/01/2078 | 490000 | 495561 |
| &nbsp;&nbsp;&nbsp;8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | 171000 | 196080 |
| Energean Israel Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 03/30/2028 (B) | 151000 | 148925 |
| &nbsp;&nbsp;&nbsp;5.875%, 03/30/2031 (B) | 260000 | 251188 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, 09/01/2034 | 305000 | 313880 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 11-15-26, then 5 Year CMT + 5.694%), 11/15/2026 (D) | 964000 | 968245 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 2-15-31, then 5 Year CMT + 2.676%), 02/15/2056 | 298000 | 297014 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 2-15-36, then 5 Year CMT + 2.475%), 02/15/2056 | 518000 | 519978 |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 5-15-30, then 5 Year CMT + 5.306%), 05/15/2030 (D) | 761000 | 779228 |
| Enterprise Products Operating LLC<br> 5.250%, (5.250% to 8-16-27, then 3 month CME Term SOFR + 3.295%), 08/16/2077 | 909000 | 907444 |
| EQT Corp.<br> 7.500%, 06/01/2030 | 115000 | 126496 |
| Expand Energy Corp.<br> 4.750%, 02/01/2032 | 406000 | 400522 |
| Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, 05/15/2032 | 238000 | 248094 |
| &nbsp;&nbsp;&nbsp;8.000%, 05/15/2033 | 270000 | 280288 |
| Global Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, 07/01/2033 (B) | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;79423 |
| &nbsp;&nbsp;&nbsp;8.250%, 01/15/2032 (B) | 212000 | 223295 |
| Gulfstream Natural Gas System LLC<br> 5.600%, 07/23/2035 (B) | 223000 | 228556 |
| Hess Midstream Operations LP<br> 6.500%, 06/01/2029 (B) | 105000 | 108434 |
| Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 01/15/2034 (B) | 220000 | 226014 |
| &nbsp;&nbsp;&nbsp;7.375%, 07/15/2032 (B) | &nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;67531 |
| Leviathan Bond, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 06/30/2027 (B) | 666000 | 669842 |
| &nbsp;&nbsp;&nbsp;6.750%, 06/30/2030 (B) | 113000 | 114991 |
| Long Ridge Energy LLC<br> 8.750%, 02/15/2032 (B) | 336000 | 357652 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 09/01/2032 | 289000 | 290952 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2033 | 355000 | 356668 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 01/01/2032 | 229000 | 234496 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Occidental Petroleum Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.450%, 09/15/2036 | $&nbsp;&nbsp;563000 | $&nbsp;&nbsp;&nbsp;&nbsp;600003 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2030 | &nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;672853 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 07/15/2033 | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;281091 |
| &nbsp;&nbsp;&nbsp;7.200%, 11/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60719 |
| Plains All American Pipeline LP<br> 4.700%, 01/15/2031 | &nbsp;&nbsp;196000 | &nbsp;&nbsp;&nbsp;&nbsp;197105 |
| Repsol E&P Capital Markets US LLC<br> 5.204%, 09/16/2030 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;202830 |
| Sabine Pass Liquefaction LLC<br> 4.500%, 05/15/2030 | &nbsp;&nbsp;817000 | &nbsp;&nbsp;&nbsp;&nbsp;820308 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 10/01/2029 (B) | &nbsp;&nbsp;376000 | &nbsp;&nbsp;&nbsp;&nbsp;366471 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/30/2030 | &nbsp;&nbsp;569000 | &nbsp;&nbsp;&nbsp;&nbsp;555643 |
| &nbsp;&nbsp;&nbsp;4.625%, 05/01/2030 (B) | &nbsp;&nbsp;214000 | &nbsp;&nbsp;&nbsp;&nbsp;207896 |
| &nbsp;&nbsp;&nbsp;5.625%, 03/15/2031 (B) | &nbsp;&nbsp;197000 | &nbsp;&nbsp;&nbsp;&nbsp;198443 |
| &nbsp;&nbsp;&nbsp;5.875%, 03/15/2034 (B) | &nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;344969 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/01/2033 (B) | &nbsp;&nbsp;219000 | &nbsp;&nbsp;&nbsp;&nbsp;224326 |
| &nbsp;&nbsp;&nbsp;7.250%, 05/01/2032 (B) | &nbsp;&nbsp;324000 | &nbsp;&nbsp;&nbsp;&nbsp;342577 |
| &nbsp;&nbsp;&nbsp;7.875%, (7.875% to 9-18-30, then 5 Year CMT + 4.230%), 09/18/2030 (B)(D) | &nbsp;&nbsp;593000 | &nbsp;&nbsp;&nbsp;&nbsp;609174 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 02/15/2035 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;338036 |
| &nbsp;&nbsp;&nbsp;6.150%, 03/01/2029 | &nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;314761 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | &nbsp;&nbsp;523000 | &nbsp;&nbsp;&nbsp;&nbsp;499044 |
| Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 05/22/2030 (B) | &nbsp;&nbsp;783000 | &nbsp;&nbsp;&nbsp;&nbsp;815034 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/15/2032 (B) | 1043000 | &nbsp;&nbsp;&nbsp;1193708 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 01/15/2030 (B)(C) | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;303165 |
| &nbsp;&nbsp;&nbsp;9.000%, (9.000% to 9-30-29, then 5 Year CMT + 5.440%), 09/30/2029 (B)(D) | &nbsp;&nbsp;988000 | &nbsp;&nbsp;&nbsp;&nbsp;780254 |
| &nbsp;&nbsp;&nbsp;9.500%, 02/01/2029 (B) | &nbsp;&nbsp;538000 | &nbsp;&nbsp;&nbsp;&nbsp;557625 |
| Viper Energy Partners LLC<br> 4.900%, 08/01/2030 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;394473 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;4.050%, 02/01/2030 | &nbsp;&nbsp;496000 | &nbsp;&nbsp;&nbsp;&nbsp;485921 |
| &nbsp;&nbsp;&nbsp;5.450%, 11/15/2034 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;287043 |
| Whistler Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 09/30/2029 (B) | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;235040 |
| &nbsp;&nbsp;&nbsp;5.700%, 09/30/2031 (B) | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;238695 |
|  |  | 29928359 |
| **Financials – 12.4%** |  |  |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.548%, (5.548% to 7-31-32, then Overnight SOFR + 1.780%), 07/31/2033 | &nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;546975 |
| &nbsp;&nbsp;&nbsp;5.737%, (5.737% to 5-15-28, then SOFR Compouned Index + 1.960%), 05/15/2029 | &nbsp;&nbsp;256000 | &nbsp;&nbsp;&nbsp;&nbsp;262500 |
| &nbsp;&nbsp;&nbsp;6.184%, (6.184% to 7-26-34, then Overnight SOFR + 2.290%), 07/26/2035 | &nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp;371031 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/01/2031 | &nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;530048 |
| Ambac Assurance Corp.<br> 5.100%, 01/14/2026 (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 |
| Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;6.700%, 07/29/2031 | &nbsp;&nbsp;426000 | &nbsp;&nbsp;&nbsp;&nbsp;449511 |
| &nbsp;&nbsp;&nbsp;6.900%, 04/13/2029 | &nbsp;&nbsp;767000 | &nbsp;&nbsp;&nbsp;&nbsp;804222 |
| Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 01/15/2031 (B) | &nbsp;&nbsp;564000 | &nbsp;&nbsp;&nbsp;&nbsp;553467 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>5</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Ares Strategic Income Fund (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, 09/09/2028 (B) | $&nbsp;&nbsp;245000 | $&nbsp;&nbsp;&nbsp;&nbsp;247048 |
| &nbsp;&nbsp;&nbsp;5.600%, 02/15/2030 | &nbsp;&nbsp;408000 | &nbsp;&nbsp;&nbsp;&nbsp;409806 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;82000 | &nbsp;&nbsp;&nbsp;&nbsp;83075 |
| &nbsp;&nbsp;&nbsp;5.800%, 09/09/2030 (B) | &nbsp;&nbsp;506000 | &nbsp;&nbsp;&nbsp;&nbsp;510899 |
| &nbsp;&nbsp;&nbsp;6.200%, 03/21/2032 | &nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;364061 |
| &nbsp;&nbsp;&nbsp;6.350%, 08/15/2029 | &nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;155376 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;4.721%, 10/08/2029 (B) | &nbsp;&nbsp;328000 | &nbsp;&nbsp;&nbsp;&nbsp;328021 |
| &nbsp;&nbsp;&nbsp;5.322%, 11/13/2031 (B) | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;334563 |
| Athene Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 01/15/2031 | &nbsp;&nbsp;141000 | &nbsp;&nbsp;&nbsp;&nbsp;133217 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 10-15-34, then 5 Year CMT + 2.607%), 10/15/2054 | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;227568 |
| Atlas Warehouse Lending Company LP<br> 6.250%, 01/15/2030 (B) | &nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;281103 |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;4.551%, 11/06/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;600636 |
| &nbsp;&nbsp;&nbsp;9.625%, (9.625% to 11-21-33, then 5 Year CMT + 5.298%), 05/21/2033 (D) | &nbsp;&nbsp;613000 | &nbsp;&nbsp;&nbsp;&nbsp;738011 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.592%, (2.592% to 4-29-30, then Overnight SOFR + 2.150%), 04/29/2031 | &nbsp;&nbsp;792000 | &nbsp;&nbsp;&nbsp;&nbsp;737970 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then Overnight SOFR + 1.320%), 04/22/2032 | 1431000 | 1313163 |
| &nbsp;&nbsp;&nbsp;4.571%, (4.571% to 4-27-32, then Overnight SOFR + 1.830%), 04/27/2033 | &nbsp;&nbsp;477000 | &nbsp;&nbsp;&nbsp;&nbsp;475831 |
| &nbsp;&nbsp;&nbsp;5.425%, (5.425% to 8-15-34, then Overnight SOFR + 1.913%), 08/15/2035 | 1261000 | 1289657 |
| &nbsp;&nbsp;&nbsp;5.518%, (5.518% to 10-25-34, then Overnight SOFR + 1.738%), 10/25/2035 | &nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;172069 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 5-1-30, then 5 Year CMT + 2.684%), 05/01/2030 (D) | &nbsp;&nbsp;818000 | &nbsp;&nbsp;&nbsp;&nbsp;852316 |
| Bank of Montreal<br> 7.700%, (7.700% to 5-26-29, then 5 Year CMT + 3.452%), 05/26/2084 | &nbsp;&nbsp;717000 | &nbsp;&nbsp;&nbsp;&nbsp;761245 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.367%, (5.367% to 2-25-30, then Overnight SOFR + 1.230%), 02/25/2031 | &nbsp;&nbsp;488000 | &nbsp;&nbsp;&nbsp;&nbsp;504382 |
| &nbsp;&nbsp;&nbsp;8.000%, (8.000% to 9-15-29, then 5 Year CMT + 5.431%), 03/15/2029 (D) | &nbsp;&nbsp;568000 | &nbsp;&nbsp;&nbsp;&nbsp;606040 |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 09/10/2030 | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;457931 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2030 | &nbsp;&nbsp;423000 | &nbsp;&nbsp;&nbsp;&nbsp;419850 |
| &nbsp;&nbsp;&nbsp;5.950%, 07/16/2029 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;316287 |
| &nbsp;&nbsp;&nbsp;7.300%, 11/27/2028 | &nbsp;&nbsp;304000 | &nbsp;&nbsp;&nbsp;&nbsp;322461 |
| Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 08/15/2030 (B) | &nbsp;&nbsp;162000 | &nbsp;&nbsp;&nbsp;&nbsp;165292 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/15/2033 (B) | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;215588 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;5.497%, (5.497% to 5-20-29, then Overnight SOFR + 1.590%), 05/20/2030 (B) | &nbsp;&nbsp;667000 | &nbsp;&nbsp;&nbsp;&nbsp;689985 |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-17-27, then 5 Year CMT + 4.969%), 11/17/2027 (B)(D) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;213336 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| BPCE SA<br> 5.936%, (5.936% to 5-30-24, then Overnight SOFR + 1.850%), 05/30/2035 (B) | $430000 | $448432 |
| Brookfield Finance, Inc.<br> 6.300%, (6.300% to 10-15-34, then 5 Year CMT + 2.076%), 01/15/2055 | 428000 | 424083 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.174%, (6.174% to 5-25-33, then Overnight SOFR + 2.661%), 05/25/2034 | 643000 | 682857 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 2-15-31, then 5 Year CMT + 3.001%), 02/15/2031 (D) | 414000 | 420737 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 04/30/2030 | 100000 | &nbsp;&nbsp;&nbsp;95447 |
| &nbsp;&nbsp;&nbsp;5.253%, (5.253% to 3-5-30, then Overnight SOFR + 1.259%), 03/05/2031 | 347000 | 356559 |
| &nbsp;&nbsp;&nbsp;5.718%, (5.718% to 7-23-31, then Overnight SOFR + 1.910%), 07/23/2032 | 893000 | 936229 |
| CNO Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/30/2029 | 651000 | 660425 |
| &nbsp;&nbsp;&nbsp;6.450%, 06/15/2034 | 286000 | 302571 |
| CNO Global Funding<br> 4.700%, 12/11/2030 (B) | 208000 | 208267 |
| Comerica, Inc.<br> 5.982%, (5.982% to 1-30-29, then Overnight SOFR + 2.155%), 01/30/2030 | 305000 | 318181 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/14/2030 (B) | 932000 | 885898 |
| &nbsp;&nbsp;&nbsp;5.862%, (5.862% to 1-9-35, then Overnight SOFR + 1.740%), 01/09/2036 (B) | 541000 | 570655 |
| &nbsp;&nbsp;&nbsp;6.316%, (6.316% to 10-3-28, then Overnight SOFR + 1.860%), 10/03/2029 (B) | 646000 | 680842 |
| Danske Bank A/S<br> 5.019%, (5.019% to 3-4-30, then 1 Year CMT + 0.930%), 03/04/2031 (B) | 564000 | 575985 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;3.742%, (3.742% to 1-7-32, then Overnight SOFR + 2.257%), 01/07/2033 | 703000 | 652984 |
| &nbsp;&nbsp;&nbsp;4.469%, (4.469% to 12-10-30, then Overnight SOFR + 1.100%), 12/10/2031 | 169000 | 168425 |
| &nbsp;&nbsp;&nbsp;5.297%, (5.297% to 5-9-30, then Overnight SOFR + 1.720%), 05/09/2031 | 366000 | 374991 |
| &nbsp;&nbsp;&nbsp;6.819%, (6.819% to 11-20-28, then Overnight SOFR + 2.510%), 11/20/2029 | 410000 | 437180 |
| Enact Holdings, Inc.<br> 6.250%, 05/28/2029 | 570000 | 596557 |
| F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 10/04/2034 | 149000 | 151573 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/04/2029 | 223000 | 232317 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;4.772%, (4.772% to 7-28-29, then SOFR Compounded Index + 2.127%), 07/28/2030 | 226000 | 228708 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>6</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Fifth Third Bancorp (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.631%, (5.631% to 1-29-31, then Overnight SOFR + 1.840%), 01/29/2032 | $343000 | $360008 |
| &nbsp;&nbsp;&nbsp;6.967%, (3 month CME Term SOFR + 3.295%), 01/30/2026 (A)(D) | 355000 | 355702 |
| First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.231%, (5.231% to 3-12-30, then Overnight SOFR + 1.410%), 03/12/2031 | 539000 | 547197 |
| &nbsp;&nbsp;&nbsp;5.600%, (5.600% to 9-5-30, then 5 Year CMT + 1.850%), 09/05/2035 | 513000 | 512108 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 12-15-30, then 5 Year CMT + 3.301%), 12/15/2030 (D) | 347000 | 354800 |
| First Horizon Corp.<br> 5.514%, (5.514% to 3-7-30, then Overnight SOFR + 1.766%), 03/07/2031 | 323000 | 333658 |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 05/01/2031 (B) | 432000 | 432260 |
| &nbsp;&nbsp;&nbsp;7.875%, 04/01/2033 (B) | 208000 | 215397 |
| GA Global Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/18/2030 (B) | 608000 | 600738 |
| &nbsp;&nbsp;&nbsp;5.200%, 12/09/2031 (B) | 378000 | 383644 |
| Global Atlantic Financial Company<br> 7.950%, (7.950% to 7-15-29, then 5 Year CMT + 3.608%), 10/15/2054 (B) | 162000 | 167261 |
| HPS Corporate Lending Fund<br> 5.950%, 04/14/2032 | 398000 | 403724 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.272%, (5.272% to 1-15-30, then Overnight SOFR + 1.276%), 01/15/2031 | 330000 | 339554 |
| &nbsp;&nbsp;&nbsp;6.141%, (6.141% to 11-18-34, then 5 Year CMT + 1.700%), 11/18/2039 | 169000 | 176109 |
| &nbsp;&nbsp;&nbsp;6.208%, (6.208% to 8-21-28, then Overnight SOFR + 2.020%), 08/21/2029 | 249000 | 261152 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 10-15-30, then 5 Year CMT + 2.653%), 10/15/2030 (D) | 246000 | 246208 |
| ING Groep NV<br> 6.114%, (6.114% to 9-11-33, then Overnight SOFR + 2.090%), 09/11/2034 | 200000 | 216088 |
| ION Platform Finance US, Inc.<br> 7.875%, 09/30/2032 (B) | 356000 | 337793 |
| Jefferies Financial Group, Inc.<br> 6.200%, 04/14/2034 | 470000 | 496036 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then Overnight SOFR + 2.040%), 04/22/2031 | 401000 | 373542 |
| &nbsp;&nbsp;&nbsp;4.603%, (4.603% to 10-22-29, then Overnight SOFR + 1.040%), 10/22/2030 | 586000 | 594228 |
| &nbsp;&nbsp;&nbsp;4.995%, (4.995% to 7-22-29, then Overnight SOFR + 1.125%), 07/22/2030 | 582000 | 597502 |
| &nbsp;&nbsp;&nbsp;5.012%, (5.012% to 1-23-29, then Overnight SOFR + 1.310%), 01/23/2030 | 568000 | 582030 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| JPMorgan Chase & Co. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.294%, (5.294% to 7-22-34, then Overnight SOFR + 1.460%), 07/22/2035 | $&nbsp;&nbsp;817000 | $&nbsp;&nbsp;&nbsp;&nbsp;842884 |
| &nbsp;&nbsp;&nbsp;5.502%, (5.502% to 1-24-35, then Overnight SOFR + 1.315%), 01/24/2036 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;543462 |
| &nbsp;&nbsp;&nbsp;5.576%, (5.576% to 7-23-35, then Overnight SOFR + 1.635%), 07/23/2036 | 1358000 | 1404782 |
| &nbsp;&nbsp;&nbsp;5.581%, (5.581% to 4-22-29, then Overnight SOFR + 1.160%), 04/22/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;417291 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;5.121%, (5.121% to 4-4-30, then SOFR Compounded Index + 1.227%), 04/04/2031 | &nbsp;&nbsp;556000 | &nbsp;&nbsp;&nbsp;&nbsp;571020 |
| &nbsp;&nbsp;&nbsp;6.401%, (6.401% to 3-6-34, then SOFR Compounded Index + 2.420%), 03/06/2035 | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;215067 |
| Lazard Group LLC<br> 4.375%, 03/11/2029 | &nbsp;&nbsp;552000 | &nbsp;&nbsp;&nbsp;&nbsp;553050 |
| Liberty Mutual Group, Inc.<br> 4.125%, (4.125% to 12-15-26, then 5 Year CMT + 3.315%), 12/15/2051 (B) | &nbsp;&nbsp;203000 | &nbsp;&nbsp;&nbsp;&nbsp;200167 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;6.068%, (6.068% to 6-13-35, then 1 Year CMT + 1.600%), 06/13/2036 | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;239743 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 9-27-35, then 5 Year CMT + 2.681%), 09/27/2035 (D) | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;377374 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 9-27-31, then 5 Year CMT + 3.150%), 09/27/2031 (D) | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;236148 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, (5.125% to 11-1-26, then 3 month CME Term SOFR + 3.782%), 11/01/2026 (D) | &nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;115796 |
| &nbsp;&nbsp;&nbsp;5.179%, (5.179% to 7-8-30, then Overnight SOFR + 1.400%), 07/08/2031 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;282322 |
| &nbsp;&nbsp;&nbsp;5.385%, (5.385% to 1-16-35, then Overnight SOFR + 1.610%), 01/16/2036 | &nbsp;&nbsp;434000 | &nbsp;&nbsp;&nbsp;&nbsp;441010 |
| &nbsp;&nbsp;&nbsp;5.400%, (5.400% to 7-30-30, then 5 Year CMT + 1.430%), 07/30/2035 | &nbsp;&nbsp;494000 | &nbsp;&nbsp;&nbsp;&nbsp;498873 |
| Macquarie Bank, Ltd.<br> 3.624%, 06/03/2030 (B) | &nbsp;&nbsp;307000 | &nbsp;&nbsp;&nbsp;&nbsp;293671 |
| MassMutual Global Funding II<br> 4.350%, 09/17/2031 (B) | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;451697 |
| MetLife, Inc.<br> 6.400%, (6.400% to 12-15-36, then 3 month CME Term SOFR + 2.467%), 12/15/2036 | &nbsp;&nbsp;556000 | &nbsp;&nbsp;&nbsp;&nbsp;583348 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then Overnight SOFR + 1.178%), 07/21/2032 | &nbsp;&nbsp;203000 | &nbsp;&nbsp;&nbsp;&nbsp;180383 |
| &nbsp;&nbsp;&nbsp;2.484%, (2.484% to 9-16-31, then Overnight SOFR + 1.360%), 09/16/2036 | &nbsp;&nbsp;796000 | &nbsp;&nbsp;&nbsp;&nbsp;699933 |
| &nbsp;&nbsp;&nbsp;5.173%, (5.173% to 1-16-29, then Overnight SOFR + 1.450%), 01/16/2030 | &nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;898246 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>7</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Morgan Stanley (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.320%, (5.320% to 7-19-34, then Overnight SOFR + 1.555%), 07/19/2035 | $&nbsp;&nbsp;700000 | $&nbsp;&nbsp;&nbsp;&nbsp;720581 |
| MSCI, Inc.<br> 3.625%, 11/01/2031 (B) | &nbsp;&nbsp;652000 | &nbsp;&nbsp;&nbsp;&nbsp;612080 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;7.300%, (7.300% to 5-19-35, then 5 Year CMT + 2.937%), 11/19/2034 (D) | &nbsp;&nbsp;498000 | &nbsp;&nbsp;&nbsp;&nbsp;528283 |
| &nbsp;&nbsp;&nbsp;8.125%, (8.125% to 5-10-34, then 5 Year CMT + 3.752%), 11/10/2033 (D) | &nbsp;&nbsp;383000 | &nbsp;&nbsp;&nbsp;&nbsp;430929 |
| NMI Holdings, Inc.<br> 6.000%, 08/15/2029 | &nbsp;&nbsp;223000 | &nbsp;&nbsp;&nbsp;&nbsp;230912 |
| OneMain Finance Corp.<br> 6.125%, 05/15/2030 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;530185 |
| PHH Escrow Issuer LLC<br> 9.875%, 11/01/2029 (B) | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;195103 |
| Popular, Inc.<br> 7.250%, 03/13/2028 | &nbsp;&nbsp;466000 | &nbsp;&nbsp;&nbsp;&nbsp;491080 |
| Radian Group, Inc.<br> 6.200%, 05/15/2029 | &nbsp;&nbsp;223000 | &nbsp;&nbsp;&nbsp;&nbsp;233779 |
| Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.502%, (5.502% to 9-6-34, then Overnight SOFR + 2.060%), 09/06/2035 | 1035000 | 1066098 |
| &nbsp;&nbsp;&nbsp;5.722%, (5.722% to 6-6-29, then Overnight SOFR + 1.490%), 06/06/2030 | &nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;243951 |
| Reinsurance Group of America, Inc.<br> 6.650%, (6.650% to 9-15-35, then 5 Year CMT + 2.392%), 09/15/2055 | &nbsp;&nbsp;447000 | &nbsp;&nbsp;&nbsp;&nbsp;461884 |
| Rocket Companies, Inc.<br> 6.375%, 08/01/2033 (B) | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;135540 |
| Royal Bank of Canada<br> 6.500%, (6.500% to 11-24-35, then 5 Year CMT + 2.462%), 11/24/2085 | &nbsp;&nbsp;793000 | &nbsp;&nbsp;&nbsp;&nbsp;789771 |
| Sixth Street Lending Partners |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2030 | &nbsp;&nbsp;248000 | &nbsp;&nbsp;&nbsp;&nbsp;251311 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/15/2030 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;195007 |
| Societe Generale SA<br> 5.375%, (5.375% to 11-18-30, then 5 Year CMT + 4.514%), 11/18/2030 (B)(D) | &nbsp;&nbsp;431000 | &nbsp;&nbsp;&nbsp;&nbsp;411966 |
| Starwood Property Trust, Inc.<br> 6.000%, 04/15/2030 (B) | &nbsp;&nbsp;326000 | &nbsp;&nbsp;&nbsp;&nbsp;334607 |
| Stonebriar ABF Issuer LLC<br> 8.125%, 12/15/2030 (B) | &nbsp;&nbsp;421000 | &nbsp;&nbsp;&nbsp;&nbsp;433293 |
| Synovus Bank<br> 5.957%, (5.957% to 1-15-31, then 5 Year CMT + 2.300%), 01/15/2036 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;251387 |
| Teachers Insurance & Annuity Association of America<br> 4.270%, 05/15/2047 (B) | &nbsp;&nbsp;629000 | &nbsp;&nbsp;&nbsp;&nbsp;516247 |
| The Bank of New York Mellon Corp.<br> 4.942%, (4.942% to 2-11-30, then Overnight SOFR + 0.887%), 02/11/2031 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;339337 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.615%, (2.615% to 4-22-31, then Overnight SOFR + 1.281%), 04/22/2032 | 1523000 | 1388691 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| The Goldman Sachs<br> Group, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, (2.650% to 10-21-31, then Overnight SOFR + 1.264%), 10/21/2032 | $&nbsp;&nbsp;539000 | $&nbsp;&nbsp;&nbsp;&nbsp;486515 |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.812%, (4.812% to 10-21-31, then Overnight SOFR + 1.259%), 10/21/2032 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;569898 |
| &nbsp;&nbsp;&nbsp;5.575%, (5.575% to 1-29-35, then Overnight SOFR + 1.394%), 01/29/2036 | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;394111 |
| &nbsp;&nbsp;&nbsp;5.939%, (5.939% to 8-18-33, then Overnight SOFR + 1.946%), 08/18/2034 | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;404740 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-15-30, then 7 Year CMT + 2.808%), 03/15/2030 (D) | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;454250 |
| TrueNoord Capital DAC<br> 8.750%, 03/01/2030 (B) | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;248215 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.153%, (5.153% to 8-5-31, then Overnight SOFR + 1.571%), 08/05/2032 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;578116 |
| &nbsp;&nbsp;&nbsp;5.867%, (5.867% to 6-8-33, then Overnight SOFR + 2.361%), 06/08/2034 | 1200000 | 1276914 |
| &nbsp;&nbsp;&nbsp;6.123%, (6.123% to 10-28-32, then Overnight SOFR + 2.300%), 10/28/2033 | &nbsp;&nbsp;379000 | &nbsp;&nbsp;&nbsp;&nbsp;409514 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;4.839%, (4.839% to 2-1-33, then Overnight SOFR + 1.600%), 02/01/2034 | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;659813 |
| &nbsp;&nbsp;&nbsp;5.083%, (5.083% to 5-15-30, then Overnight SOFR + 1.296%), 05/15/2031 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;402009 |
| &nbsp;&nbsp;&nbsp;5.384%, (5.384% to 1-23-29, then Overnight SOFR + 1.560%), 01/23/2030 | &nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;376990 |
| &nbsp;&nbsp;&nbsp;5.836%, (5.836% to 6-10-33, then Overnight SOFR + 2.260%), 06/12/2034 | &nbsp;&nbsp;604000 | &nbsp;&nbsp;&nbsp;&nbsp;644402 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;5.428%, (5.428% to 2-8-29, then 1 Year CMT + 1.520%), 02/08/2030 (B) | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;467469 |
| &nbsp;&nbsp;&nbsp;6.301%, (6.301% to 9-22-33, then 1 Year CMT + 2.000%), 09/22/2034 (B) | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;436339 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 8-10-30, then 5 Year SOFR ICE Swap Rate + 3.077%), 02/10/2030 (B)(D) | &nbsp;&nbsp;274000 | &nbsp;&nbsp;&nbsp;&nbsp;280001 |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 2-10-35, then 5 Year SOFR ICE Swap Rate + 3.179%), 08/10/2034 (B)(D) | &nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;373014 |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-13-33, then 5 Year CMT + 4.758%), 11/13/2033 (B)(D) | &nbsp;&nbsp;369000 | &nbsp;&nbsp;&nbsp;&nbsp;432747 |
| Webster Financial Corp.<br> 5.784%, (5.784% to 9-11-30, then 5 Year CMT + 2.125%), 09/11/2035 | &nbsp;&nbsp;196000 | &nbsp;&nbsp;&nbsp;&nbsp;195883 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>8</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then Overnight SOFR + 1.500%), 03/02/2033 | $1847000 | $&nbsp;&nbsp;&nbsp;1723873 |
| &nbsp;&nbsp;&nbsp;5.211%, (5.211% to 12-3-34, then Overnight SOFR + 1.380%), 12/03/2035 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;429043 |
| &nbsp;&nbsp;&nbsp;5.244%, (5.244% to 1-24-30, then Overnight SOFR + 1.110%), 01/24/2031 | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;346899 |
| &nbsp;&nbsp;&nbsp;6.491%, (6.491% to 10-23-33, then Overnight SOFR + 2.060%), 10/23/2034 | &nbsp;&nbsp;814000 | &nbsp;&nbsp;&nbsp;&nbsp;901052 |
|  |  | 70071450 |
| **Health care – 2.0%** |  |  |
| AbbVie, Inc.<br> 5.050%, 03/15/2034 | &nbsp;&nbsp;199000 | &nbsp;&nbsp;&nbsp;&nbsp;204510 |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2033 | 1744000 | &nbsp;&nbsp;&nbsp;1805321 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/02/2053 | &nbsp;&nbsp;656000 | &nbsp;&nbsp;&nbsp;&nbsp;642354 |
| Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50123 |
| &nbsp;&nbsp;&nbsp;4.900%, 12/15/2030 | &nbsp;&nbsp;149000 | &nbsp;&nbsp;&nbsp;&nbsp;150141 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2030 | &nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;&nbsp;427589 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2030 | &nbsp;&nbsp;273000 | &nbsp;&nbsp;&nbsp;&nbsp;251224 |
| CVS Health Corp.<br> 5.000%, 09/15/2032 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;561369 |
| DaVita, Inc.<br> 4.625%, 06/01/2030 (B) | &nbsp;&nbsp;294000 | &nbsp;&nbsp;&nbsp;&nbsp;285883 |
| Endo Finance Holdings, Inc.<br> 8.500%, 04/15/2031 (B) | &nbsp;&nbsp;237000 | &nbsp;&nbsp;&nbsp;&nbsp;250495 |
| Fresenius Medical Care US Finance III, Inc.<br> 2.375%, 02/16/2031 (B) | &nbsp;&nbsp;868000 | &nbsp;&nbsp;&nbsp;&nbsp;771030 |
| Genmab A/S<br> 6.250%, 12/15/2032 (B) | &nbsp;&nbsp;207000 | &nbsp;&nbsp;&nbsp;&nbsp;212143 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 11/15/2030 | &nbsp;&nbsp;169000 | &nbsp;&nbsp;&nbsp;&nbsp;168361 |
| &nbsp;&nbsp;&nbsp;4.600%, 11/15/2032 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;257645 |
| &nbsp;&nbsp;&nbsp;5.450%, 04/01/2031 | &nbsp;&nbsp;464000 | &nbsp;&nbsp;&nbsp;&nbsp;484276 |
| Horizon Mutual Holdings, Inc.<br> 6.200%, 11/15/2034 (B) | &nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;547401 |
| IQVIA, Inc.<br> 6.250%, 02/01/2029 | &nbsp;&nbsp;217000 | &nbsp;&nbsp;&nbsp;&nbsp;228744 |
| Regeneron Pharmaceuticals, Inc.<br> 1.750%, 09/15/2030 | &nbsp;&nbsp;669000 | &nbsp;&nbsp;&nbsp;&nbsp;596826 |
| Royalty Pharma PLC<br> 5.150%, 09/02/2029 | &nbsp;&nbsp;274000 | &nbsp;&nbsp;&nbsp;&nbsp;281586 |
| Solventum Corp.<br> 5.450%, 03/13/2031 | &nbsp;&nbsp;746000 | &nbsp;&nbsp;&nbsp;&nbsp;778168 |
| Tenet Healthcare Corp.<br> 5.500%, 11/15/2032 (B) | &nbsp;&nbsp;583000 | &nbsp;&nbsp;&nbsp;&nbsp;590994 |
| Teva Pharmaceutical Finance Company LLC<br> 6.150%, 02/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90291 |
| Teva Pharmaceutical Finance Netherlands III BV<br> 4.100%, 10/01/2046 | &nbsp;&nbsp;614000 | &nbsp;&nbsp;&nbsp;&nbsp;464310 |
| Teva Pharmaceutical Finance Netherlands IV BV<br> 5.750%, 12/01/2030 | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;430448 |
| Universal Health Services, Inc.<br> 2.650%, 10/15/2030 | &nbsp;&nbsp;622000 | &nbsp;&nbsp;&nbsp;&nbsp;567226 |
|  |  | 11098458 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials – 2.9%** |  |  |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 01/30/2032 | $1610000 | $1486544 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 1-31-31, then 5 Year CMT + 2.441%), 01/31/2056 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;293973 |
| Aeropuertos Dominicanos Siglo XXI SA<br> 7.000%, 06/30/2034 (B) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;315000 |
| Air Canada 2020-1 Class C Pass Through Trust<br> 10.500%, 07/15/2026 (B) | &nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;264119 |
| American Airlines 2016-1 Class A Pass Through Trust<br> 4.100%, 01/15/2028 | &nbsp;&nbsp;530079 | &nbsp;&nbsp;&nbsp;&nbsp;522880 |
| American Airlines 2016-3 Class A Pass Through Trust<br> 3.250%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;33243 | &nbsp;&nbsp;&nbsp;&nbsp;31885 |
| American Airlines 2017-1 Class A Pass Through Trust<br> 4.000%, 02/15/2029 | &nbsp;&nbsp;312180 | &nbsp;&nbsp;&nbsp;&nbsp;302942 |
| American Airlines 2017-1 Class AA Pass Through Trust<br> 3.650%, 02/15/2029 | &nbsp;&nbsp;407963 | &nbsp;&nbsp;&nbsp;&nbsp;400661 |
| American Airlines 2017-2 Class A Pass Through Trust<br> 3.600%, 10/15/2029 | &nbsp;&nbsp;253078 | &nbsp;&nbsp;&nbsp;&nbsp;241195 |
| American Airlines 2019-1 Class A Pass Through Trust<br> 3.500%, 02/15/2032 | &nbsp;&nbsp;630008 | &nbsp;&nbsp;&nbsp;&nbsp;581547 |
| American Airlines 2019-1 Class AA Pass Through Trust<br> 3.150%, 02/15/2032 | &nbsp;&nbsp;470050 | &nbsp;&nbsp;&nbsp;&nbsp;444296 |
| American Airlines 2019-1 Class B Pass Through Trust<br> 3.850%, 02/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;72173 | &nbsp;&nbsp;&nbsp;&nbsp;70648 |
| American Airlines 2021-1 Class A Pass Through Trust<br> 2.875%, 07/11/2034 | &nbsp;&nbsp;732561 | &nbsp;&nbsp;&nbsp;&nbsp;669151 |
| American Airlines 2021-1 Class B Pass Through Trust<br> 3.950%, 07/11/2030 | &nbsp;&nbsp;429970 | &nbsp;&nbsp;&nbsp;&nbsp;414699 |
| American Airlines 2025-1 Class A Pass Through Trust<br> 4.900%, 05/11/2038 | &nbsp;&nbsp;487000 | &nbsp;&nbsp;&nbsp;&nbsp;483072 |
| American Airlines 2025-1 Class B Pass Through Trust<br> 5.650%, 11/11/2034 | &nbsp;&nbsp;171000 | &nbsp;&nbsp;&nbsp;&nbsp;171976 |
| American Airlines, Inc.<br> 7.250%, 02/15/2028 (B) | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;202416 |
| Ashtead Capital, Inc.<br> 5.550%, 05/30/2033 (B) | &nbsp;&nbsp;547000 | &nbsp;&nbsp;&nbsp;&nbsp;564375 |
| BlueLinx Holdings, Inc.<br> 6.000%, 11/15/2029 (B) | &nbsp;&nbsp;383000 | &nbsp;&nbsp;&nbsp;&nbsp;375285 |
| British Airways 2018-1 Class A Pass Through Trust<br> 4.125%, 09/20/2031 (B) | &nbsp;&nbsp;&nbsp;&nbsp;52722 | &nbsp;&nbsp;&nbsp;&nbsp;51104 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2032 (B) | &nbsp;&nbsp;439000 | &nbsp;&nbsp;&nbsp;&nbsp;418021 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2034 (B) | &nbsp;&nbsp;468000 | &nbsp;&nbsp;&nbsp;&nbsp;483880 |
| CIMIC Finance USA Pty, Ltd.<br> 7.000%, 03/25/2034 (B) | &nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;284455 |
| Cimpress PLC<br> 7.375%, 09/15/2032 (B) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;346801 |
| Delta Air Lines, Inc.<br> 5.250%, 07/10/2030 | &nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;255864 |
| Efesto Bidco SpA Efesto US LLC<br> 7.500%, 02/15/2032 (B) | &nbsp;&nbsp;332000 | &nbsp;&nbsp;&nbsp;&nbsp;335357 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>9</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| Flowserve Corp.<br> 3.500%, 10/01/2030 | $&nbsp;&nbsp;327000 | $&nbsp;&nbsp;&nbsp;&nbsp;311779 |
| Garda World Security Corp.<br> 6.500%, 01/15/2031 (B) | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;296753 |
| JB Poindexter & Company, Inc.<br> 8.750%, 12/15/2031 (B) | &nbsp;&nbsp;386000 | &nbsp;&nbsp;&nbsp;&nbsp;404326 |
| JetBlue 2019-1 Class AA Pass Through Trust<br> 2.750%, 05/15/2032 | &nbsp;&nbsp;338915 | &nbsp;&nbsp;&nbsp;&nbsp;304038 |
| MasTec, Inc.<br> 5.900%, 06/15/2029 | &nbsp;&nbsp;256000 | &nbsp;&nbsp;&nbsp;&nbsp;266710 |
| The Boeing Company<br> 6.528%, 05/01/2034 | 1490000 | &nbsp;&nbsp;&nbsp;1648475 |
| United Airlines 2016-1 Class A Pass Through Trust<br> 3.450%, 07/07/2028 | &nbsp;&nbsp;464034 | &nbsp;&nbsp;&nbsp;&nbsp;452304 |
| United Airlines 2019-1 Class A Pass Through Trust<br> 4.550%, 08/25/2031 | &nbsp;&nbsp;437990 | &nbsp;&nbsp;&nbsp;&nbsp;425918 |
| United Airlines 2020-1 Class A Pass Through Trust<br> 5.875%, 10/15/2027 | &nbsp;&nbsp;168329 | &nbsp;&nbsp;&nbsp;&nbsp;172596 |
| United Airlines 2023-1 Class A Pass Through Trust<br> 5.800%, 01/15/2036 | &nbsp;&nbsp;611096 | &nbsp;&nbsp;&nbsp;&nbsp;638349 |
| United Airlines 2024-1 Class A Pass Through Trust<br> 5.875%, 02/15/2037 | &nbsp;&nbsp;442209 | &nbsp;&nbsp;&nbsp;&nbsp;452987 |
| United Airlines 2024-1 Class AA Pass Through Trust<br> 5.450%, 02/15/2037 | &nbsp;&nbsp;523313 | &nbsp;&nbsp;&nbsp;&nbsp;537995 |
| United Airlines, Inc.<br> 4.625%, 04/15/2029 (B) | &nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;153332 |
| Weir Group, Inc.<br> 5.350%, 05/06/2030 (B) | &nbsp;&nbsp;231000 | &nbsp;&nbsp;&nbsp;&nbsp;237381 |
| Williams Scotsman, Inc.<br> 6.625%, 06/15/2029 (B) | &nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;195213 |
|  |  | 16510302 |
| **Information technology – 2.8%** |  |  |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.419%, 04/15/2033 | 1332000 | &nbsp;&nbsp;&nbsp;1232985 |
| &nbsp;&nbsp;&nbsp;4.550%, 02/15/2032 | &nbsp;&nbsp;223000 | &nbsp;&nbsp;&nbsp;&nbsp;223622 |
| &nbsp;&nbsp;&nbsp;4.800%, 02/15/2036 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;503241 |
| &nbsp;&nbsp;&nbsp;4.900%, 07/15/2032 | &nbsp;&nbsp;787000 | &nbsp;&nbsp;&nbsp;&nbsp;803529 |
| CDW LLC<br> 5.100%, 03/01/2030 | &nbsp;&nbsp;181000 | &nbsp;&nbsp;&nbsp;&nbsp;184320 |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 08/15/2033 (B) | &nbsp;&nbsp;166000 | &nbsp;&nbsp;&nbsp;&nbsp;164516 |
| &nbsp;&nbsp;&nbsp;8.250%, 06/30/2032 (B) | &nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;164071 |
| CoreWeave, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.000%, 02/01/2031 (B) | &nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;333613 |
| &nbsp;&nbsp;&nbsp;9.250%, 06/01/2030 (B) | &nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;256617 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2031 | &nbsp;&nbsp;671000 | &nbsp;&nbsp;&nbsp;&nbsp;670042 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/06/2032 | &nbsp;&nbsp;552000 | &nbsp;&nbsp;&nbsp;&nbsp;551275 |
| &nbsp;&nbsp;&nbsp;5.100%, 02/15/2036 | &nbsp;&nbsp;337000 | &nbsp;&nbsp;&nbsp;&nbsp;332809 |
| &nbsp;&nbsp;&nbsp;5.300%, 04/01/2032 | &nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;582142 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/15/2034 | &nbsp;&nbsp;858000 | &nbsp;&nbsp;&nbsp;&nbsp;881101 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, 01/25/2036 (B) | &nbsp;&nbsp;639000 | &nbsp;&nbsp;&nbsp;&nbsp;668034 |
| &nbsp;&nbsp;&nbsp;6.250%, 01/25/2035 (B) | &nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp;949050 |
| Kioxia Holdings Corp.<br> 6.625%, 07/24/2033 (B) | &nbsp;&nbsp;731000 | &nbsp;&nbsp;&nbsp;&nbsp;760149 |
| Marvell Technology, Inc.<br> 5.950%, 09/15/2033 | &nbsp;&nbsp;268000 | &nbsp;&nbsp;&nbsp;&nbsp;286540 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.703%, 04/15/2032 | $453000 | $&nbsp;&nbsp;&nbsp;&nbsp;406281 |
| &nbsp;&nbsp;&nbsp;5.300%, 01/15/2031 | 422000 | &nbsp;&nbsp;&nbsp;&nbsp;437116 |
| &nbsp;&nbsp;&nbsp;5.650%, 11/01/2032 | 423000 | &nbsp;&nbsp;&nbsp;&nbsp;444634 |
| &nbsp;&nbsp;&nbsp;5.800%, 01/15/2035 | 347000 | &nbsp;&nbsp;&nbsp;&nbsp;365681 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/15/2030 | 786000 | &nbsp;&nbsp;&nbsp;&nbsp;713854 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/24/2031 | 592000 | &nbsp;&nbsp;&nbsp;&nbsp;541624 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 09/27/2034 | 373000 | &nbsp;&nbsp;&nbsp;&nbsp;345877 |
| &nbsp;&nbsp;&nbsp;4.800%, 09/26/2032 | 319000 | &nbsp;&nbsp;&nbsp;&nbsp;307970 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/03/2032 | 377000 | &nbsp;&nbsp;&nbsp;&nbsp;376949 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | 893000 | &nbsp;&nbsp;&nbsp;&nbsp;741082 |
| Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2031 (B) | 471000 | &nbsp;&nbsp;&nbsp;&nbsp;435743 |
| &nbsp;&nbsp;&nbsp;4.375%, 10/15/2029 | 311000 | &nbsp;&nbsp;&nbsp;&nbsp;306461 |
| TD SYNNEX Corp.<br> 5.300%, 10/10/2035 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;514916 |
| WULF Compute LLC<br> 7.750%, 10/15/2030 (B) | 167000 | &nbsp;&nbsp;&nbsp;&nbsp;172051 |
|  |  | 15657895 |
| **Materials – 0.9%** |  |  |
| Alcoa Nederland Holding BV<br> 7.125%, 03/15/2031 (B) | 128000 | &nbsp;&nbsp;&nbsp;&nbsp;136000 |
| Ardagh Metal Packaging Finance USA LLC<br> 6.250%, 01/30/2031 (B) | 294000 | &nbsp;&nbsp;&nbsp;&nbsp;300696 |
| Aris Mining Corp.<br> 8.000%, 10/31/2029 (B) | 293000 | &nbsp;&nbsp;&nbsp;&nbsp;305600 |
| Cemex SAB de CV<br> 3.875%, 07/11/2031 (B) | 486000 | &nbsp;&nbsp;&nbsp;&nbsp;465372 |
| Clydesdale Acquisition Holdings, Inc.<br> 6.875%, 01/15/2030 (B) | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;343375 |
| CSN Resources SA<br> 4.625%, 06/10/2031 (B) | 598000 | &nbsp;&nbsp;&nbsp;&nbsp;459923 |
| First Quantum Minerals, Ltd.<br> 8.000%, 03/01/2033 (B) | 224000 | &nbsp;&nbsp;&nbsp;&nbsp;239220 |
| Freeport-McMoRan, Inc.<br> 5.400%, 11/14/2034 | 382000 | &nbsp;&nbsp;&nbsp;&nbsp;393860 |
| Graphic Packaging International LLC<br> 3.500%, 03/01/2029 (B) | 198000 | &nbsp;&nbsp;&nbsp;&nbsp;189437 |
| JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 01/31/2031 (B) | 106000 | &nbsp;&nbsp;&nbsp;&nbsp;108197 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/31/2032 (B) | 383000 | &nbsp;&nbsp;&nbsp;&nbsp;393171 |
| Novelis Corp.<br> 4.750%, 01/30/2030 (B) | 459000 | &nbsp;&nbsp;&nbsp;&nbsp;443394 |
| Quikrete Holdings, Inc.<br> 6.375%, 03/01/2032 (B) | 306000 | &nbsp;&nbsp;&nbsp;&nbsp;318509 |
| Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 03/15/2034 (B) | 388000 | &nbsp;&nbsp;&nbsp;&nbsp;389134 |
| &nbsp;&nbsp;&nbsp;6.250%, 08/01/2033 (B) | 299000 | &nbsp;&nbsp;&nbsp;&nbsp;305440 |
| Toucan FinCo, Ltd.<br> 9.500%, 05/15/2030 (B) | 384000 | &nbsp;&nbsp;&nbsp;&nbsp;383465 |
|  |  | &nbsp;&nbsp;&nbsp;5174793 |
| **Real estate – 1.0%** |  |  |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 12/15/2032 | 398000 | &nbsp;&nbsp;&nbsp;&nbsp;398086 |
| &nbsp;&nbsp;&nbsp;5.550%, 07/15/2033 | 342000 | &nbsp;&nbsp;&nbsp;&nbsp;358119 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/15/2033 | 342000 | &nbsp;&nbsp;&nbsp;&nbsp;360333 |
| CoStar Group, Inc.<br> 2.800%, 07/15/2030 (B) | 676000 | &nbsp;&nbsp;&nbsp;&nbsp;619610 |
| FIBRA Prologis<br> 5.500%, 11/26/2035 (B) | 266000 | &nbsp;&nbsp;&nbsp;&nbsp;267064 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>10</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Iron Mountain Information Management Services, Inc.<br> 5.000%, 07/15/2032 (B) | $330000 | $&nbsp;&nbsp;&nbsp;&nbsp;315039 |
| Iron Mountain, Inc.<br> 5.250%, 07/15/2030 (B) | 249000 | &nbsp;&nbsp;&nbsp;&nbsp;245988 |
| Millrose Properties, Inc.<br> 6.375%, 08/01/2030 (B) | 490000 | &nbsp;&nbsp;&nbsp;&nbsp;501380 |
| Prologis Targeted U.S. Logistics Fund LP<br> 4.250%, 01/15/2031 (B) | 199000 | &nbsp;&nbsp;&nbsp;&nbsp;197530 |
| Trust 2401<br> 7.375%, 02/13/2034 (B) | 554000 | &nbsp;&nbsp;&nbsp;&nbsp;614774 |
| Uniti Group LP<br> 6.500%, 02/15/2029 (B) | 179000 | &nbsp;&nbsp;&nbsp;&nbsp;171897 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2029 (B) | 296000 | &nbsp;&nbsp;&nbsp;&nbsp;290246 |
| &nbsp;&nbsp;&nbsp;5.125%, 11/15/2031 | 655000 | &nbsp;&nbsp;&nbsp;&nbsp;663535 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | 546000 | &nbsp;&nbsp;&nbsp;&nbsp;549777 |
| XHR LP<br> 6.625%, 05/15/2030 (B) | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;221898 |
|  |  | 5775276 |
| **Utilities – 3.0%** |  |  |
| AES Panama Generation Holdings SRL<br> 4.375%, 05/31/2030 (B) | 315526 | &nbsp;&nbsp;&nbsp;&nbsp;296445 |
| AltaGas, Ltd.<br> 7.200%, (7.200% to 10-15-34, then 5 Year CMT + 3.573%), 10/15/2054 (B) | 209000 | &nbsp;&nbsp;&nbsp;&nbsp;216679 |
| American Electric Power Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 03/01/2033 | 122000 | &nbsp;&nbsp;&nbsp;&nbsp;128124 |
| &nbsp;&nbsp;&nbsp;5.800%, (5.800% to 3-15-31, then 5 Year CMT + 2.128%), 03/15/2056 | 271000 | &nbsp;&nbsp;&nbsp;&nbsp;269038 |
| &nbsp;&nbsp;&nbsp;6.050%, (6.050% to 3-15-36, then 5 Year CMT + 1.940%), 03/15/2056 | 129000 | &nbsp;&nbsp;&nbsp;&nbsp;126746 |
| Capital Power US Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.257%, 06/01/2028 (B) | 216000 | &nbsp;&nbsp;&nbsp;&nbsp;220183 |
| &nbsp;&nbsp;&nbsp;6.189%, 06/01/2035 (B) | 365000 | &nbsp;&nbsp;&nbsp;&nbsp;381051 |
| CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.950%, (5.950% to 4-1-31, then 5 Year CMT + 2.223%), 04/01/2056 | 323000 | &nbsp;&nbsp;&nbsp;&nbsp;325463 |
| &nbsp;&nbsp;&nbsp;6.850%, (6.850% to 2-15-35, then 5 Year CMT + 2.946%), 02/15/2055 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;133310 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 2-15-30, then 5 Year CMT + 3.254%), 02/15/2055 | 296000 | &nbsp;&nbsp;&nbsp;&nbsp;308687 |
| Constellation Energy Generation LLC<br> 6.500%, 10/01/2053 | 261000 | &nbsp;&nbsp;&nbsp;&nbsp;284352 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, (6.000% to 2-15-31, then 5 Year CMT + 2.262%), 02/15/2056 | 436000 | &nbsp;&nbsp;&nbsp;&nbsp;438011 |
| &nbsp;&nbsp;&nbsp;6.200%, (6.200% to 2-15-36, then 5 Year CMT + 2.006%), 02/15/2056 | 539000 | &nbsp;&nbsp;&nbsp;&nbsp;539367 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-1-30, then 5 Year CMT + 2.386%), 02/01/2055 | 405000 | &nbsp;&nbsp;&nbsp;&nbsp;420968 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 6-1-34, then 5 Year CMT + 2.511%), 06/01/2054 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;200309 |
| Duke Energy Corp.<br> 5.750%, 09/15/2033 | 442000 | &nbsp;&nbsp;&nbsp;&nbsp;468046 |
| Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, 04/22/2029 (B) | 651000 | &nbsp;&nbsp;&nbsp;&nbsp;677799 |
| &nbsp;&nbsp;&nbsp;9.125%, (9.125% to 6-15-33, then 5 Year CMT + 5.411%), 03/15/2033 (B)(D) | 621000 | &nbsp;&nbsp;&nbsp;&nbsp;722194 |
| Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, (5.875% to 6-15-31, then 5 Year CMT + 2.179%), 06/15/2056 | 546000 | &nbsp;&nbsp;&nbsp;&nbsp;545659 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Entergy Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, (6.100% to 6-15-36, then 5 Year CMT + 2.013%), 06/15/2056 | $273000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272576 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 03/15/2031 | 204000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210599 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 3-15-35, then 5 Year CMT + 1.975%), 03/15/2055 | 129000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134230 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 151000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138866 |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 8-15-30, then 5 Year CMT + 2.053%), 08/15/2055 | 299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308642 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 8-15-35, then 5 Year CMT + 1.979%), 08/15/2055 | 108000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113783 |
| &nbsp;&nbsp;&nbsp;6.700%, (6.700% to 9-1-29, then 5 Year CMT + 2.364%), 09/01/2054 | 262000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272206 |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 05/01/2030 | 174000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169049 |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 7-15-31, then 5 Year CMT + 2.035%), 07/15/2056 | 435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437817 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2031 (B) | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313052 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2032 (B) | 626000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584533 |
| &nbsp;&nbsp;&nbsp;4.450%, 06/15/2029 (B) | 356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354428 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2034 (B) | 244000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246481 |
| &nbsp;&nbsp;&nbsp;6.000%, 02/01/2033 (B) | 303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308999 |
| &nbsp;&nbsp;&nbsp;7.000%, 03/15/2033 (B) | 497000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549378 |
| &nbsp;&nbsp;&nbsp;10.250%, (10.250% to 3-15-28, then 5 Year CMT + 5.920%), 03/15/2028 (B)(D) | 371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405073 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238355 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/15/2034 | 430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446584 |
| PacifiCorp<br> 7.375%, (7.375% to 9-15-30, then 5 Year CMT + 3.319%), 09/15/2055 | 399000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406680 |
| PG&E Corp.<br> 7.375%, (7.375% to 3-15-30, then 5 Year CMT + 3.883%), 03/15/2055 | 698000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726961 |
| Sempra |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 08/01/2033 | 351000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366541 |
| &nbsp;&nbsp;&nbsp;6.400%, (6.400% to 10-1-34, then 5 Year CMT + 2.632%), 10/01/2054 | 422000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429229 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 10-1-29, then 5 Year CMT + 2.789%), 10/01/2054 | 398000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409455 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2034 | 356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374786 |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 3-15-35, then 5 Year CMT + 2.069%), 03/15/2055 | 537000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560457 |
| Vistra Corp.<br> 8.000%, (8.000% to 10-15-26, then 5 Year CMT + 6.930%), 10/15/2026 (B)(D) | 172000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176324 |
| Vistra Operations Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 07/15/2029 (B) | 781000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775554 |
| &nbsp;&nbsp;&nbsp;6.950%, 10/15/2033 (B) | 431000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480280 |
| WEC Energy Group, Inc.<br> 5.625%, (5.625% to 5-15-31, then 5 Year CMT + 1.905%), 05/15/2056 | 272000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273713 |
|  |  | &nbsp;&nbsp;&nbsp;17187062 |
| TOTAL CORPORATE BONDS (Cost $205,831,816) |  | $210379582 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>11</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS – 0.0%** |  |  |
| Golden State Tobacco Securitization Corp. (California)<br> 4.214%, 06/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;231000 | $&nbsp;&nbsp;&nbsp;&nbsp;168922 |
| TOTAL MUNICIPAL BONDS (Cost $231,000) | TOTAL MUNICIPAL BONDS (Cost $231,000) | $&nbsp;&nbsp;&nbsp;&nbsp;168922 |
| **TERM LOANS (E) – 0.3%** | **TERM LOANS (E) – 0.3%** |  |
| **Financials – 0.1%** |  |  |
| AmWINS Group, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 5.966%, 01/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp;309734 | &nbsp;&nbsp;&nbsp;&nbsp;310508 |
| **Health care – 0.0%** |  |  |
| Endo Finance Holdings, Inc., 2024 1st Lien Term Loan (1 month CME Term SOFR + 3.750%) 7.466%, 04/23/2031 | &nbsp;&nbsp;&nbsp;&nbsp;188613 | &nbsp;&nbsp;&nbsp;&nbsp;186962 |
| **Industrials – 0.1%** |  |  |
| GFL ES US LLC, 2025 Term Loan B (3 month CME Term SOFR + 2.500%) 6.273%, 03/03/2032 | &nbsp;&nbsp;&nbsp;&nbsp;227430 | &nbsp;&nbsp;&nbsp;&nbsp;228112 |
| Gloves Buyer, Inc., 2025 Term Loan (1 month CME Term SOFR + 4.000%) 7.716%, 05/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;551431 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;779543 |
| **Information technology – 0.0%** |  |  |
| Clearwater Analytics LLC, 2025 Term Loan B (6 month CME Term SOFR + 2.000%) 6.210%, 04/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;103740 | &nbsp;&nbsp;&nbsp;&nbsp;103546 |
| **Materials – 0.1%** |  |  |
| Quikrete Holdings, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 5.966%, 02/10/2032 | &nbsp;&nbsp;&nbsp;&nbsp;277900 | &nbsp;&nbsp;&nbsp;&nbsp;278695 |
| TOTAL TERM LOANS (Cost $1,658,927) | TOTAL TERM LOANS (Cost $1,658,927) | $1659254 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 5.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 5.1%** |  |
| **Commercial and residential – 4.1%** |  |  |
| A&D Mortgage Trust<br> Series 2025-NQM5, Class A1 (5.120% to 11-1-29, then 6.120% thereafter)<br> 5.120%, 12/25/2070 (B) | &nbsp;&nbsp;&nbsp;&nbsp;271430 | &nbsp;&nbsp;&nbsp;&nbsp;271732 |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.035%, 01/20/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;177383 | &nbsp;&nbsp;&nbsp;&nbsp;150965 |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A1 (4.800% to 2-1-28, then 5.800% thereafter),<br> 4.800%, 11/26/2068 (B) | &nbsp;&nbsp;&nbsp;&nbsp;354427 | &nbsp;&nbsp;&nbsp;&nbsp;353680 |
| &nbsp;&nbsp;&nbsp;Series 2025-10, Class A1,<br> 4.960%, 09/25/2070 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;201121 | &nbsp;&nbsp;&nbsp;&nbsp;201344 |
| &nbsp;&nbsp;&nbsp;Series 2025-11, Class A1,<br> 4.975%, 10/25/2070 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;307222 | &nbsp;&nbsp;&nbsp;&nbsp;307645 |
| Arroyo Mortgage Trust<br> Series 2021-1R, Class A1<br> 1.175%, 10/25/2048 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;105399 | &nbsp;&nbsp;&nbsp;&nbsp;95402 |
| Avenue of Americas<br> Series 2025-1301, Class A<br> 5.059%, 08/11/2042 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;428000 | &nbsp;&nbsp;&nbsp;&nbsp;433277 |
| BAHA Trust<br> Series 2024-MAR, Class A<br> 5.972%, 12/10/2041 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;554000 | &nbsp;&nbsp;&nbsp;&nbsp;573406 |
| BAMLL Commercial Mortgage Securities Trust<br> Series 2019-BPR, Class ENM<br> 3.719%, 11/05/2032 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;98083 |
| BANK<br> Series 2021-BN34, Class XA IO<br> 0.958%, 06/15/2063 | 12614828 | &nbsp;&nbsp;&nbsp;&nbsp;459233 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BANK5 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-5YR18, Class A3,<br> 5.145%, 12/15/2058 | $&nbsp;&nbsp;&nbsp;&nbsp;384000 | $394718 |
| &nbsp;&nbsp;&nbsp;Series 2025-5YR19, Class A3,<br> 5.270%, 12/15/2058 | &nbsp;&nbsp;&nbsp;&nbsp;259000 | 267681 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-C6, Class A2,<br> 2.690%, 02/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;72228 | &nbsp;&nbsp;&nbsp;68076 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C29, Class A3,<br> 5.208%, 09/15/2057 | &nbsp;&nbsp;&nbsp;&nbsp;151000 | 155189 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C31, Class A3,<br> 5.609%, 12/15/2057 | &nbsp;&nbsp;&nbsp;&nbsp;168000 | 175131 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C38, Class A3,<br> 5.146%, 11/15/2058 | &nbsp;&nbsp;&nbsp;&nbsp;307000 | 315821 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-B12, Class A2,<br> 3.001%, 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;133480 | 129251 |
| &nbsp;&nbsp;&nbsp;Series 2024-V12, Class A3,<br> 5.738%, 12/15/2057 | &nbsp;&nbsp;&nbsp;&nbsp;523000 | 547151 |
| BMO Mortgage Trust<br> Series 2024-5C8, Class A3<br> 5.625%, 12/15/2057 (F) | &nbsp;&nbsp;&nbsp;&nbsp;163000 | 169681 |
| BRAVO Residential Funding Trust<br> Series 2021-NQM1, Class A1<br> 0.941%, 02/25/2049 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;110599 | 101924 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class A,<br> 3.202%, 12/09/2041 (B) | &nbsp;&nbsp;&nbsp;&nbsp;229000 | 217404 |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class D,<br> 3.944%, 12/09/2041 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;300000 | 285763 |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;267000 | 267863 |
| CENT Trust<br> Series 2025-CITY, Class A<br> 4.920%, 07/10/2040 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;297000 | 300612 |
| CHL Mortgage Pass-Through Trust<br> Series 2004-HYB2, Class 4A<br> 6.722%, 07/20/2034 (F) | &nbsp;&nbsp;&nbsp;&nbsp;230039 | 225626 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-C7, Class XA IO,<br> 0.816%, 12/15/2072 | 14183599 | 402560 |
| &nbsp;&nbsp;&nbsp;Series 2023-SMRT, Class A,<br> 5.820%, 10/12/2040 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;340000 | 350388 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.924%, 08/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;160325 | 136149 |
| &nbsp;&nbsp;&nbsp;Series 2025-6, Class A1 (5.529% to 7-1-29, then 6.529% thereafter),<br> 5.529%, 08/25/2070 (B) | &nbsp;&nbsp;&nbsp;&nbsp;215575 | 217537 |
| COLT Trust<br> Series 2020-RPL1, Class A1<br> 1.390%, 01/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;326283 | 284014 |
| Commercial Mortgage Trust (Citigroup/Deutsche Bank AG)<br> Series 2018-COR3, Class XA IO<br> 0.436%, 05/10/2051 | &nbsp;&nbsp;4947632 | &nbsp;&nbsp;&nbsp;41009 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;90496 | &nbsp;&nbsp;&nbsp;81332 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.015%, 04/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;118573 | 103783 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>12</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Credit Suisse Mortgage<br> Capital Certificates (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM6, Class A1,<br> 1.174%, 07/25/2066 (B)(F) | $&nbsp;&nbsp;341498 | $293254 |
| Cross Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-H8, Class A1,<br> 5.003%, 11/25/2070 (B)(F) | &nbsp;&nbsp;261558 | 262064 |
| &nbsp;&nbsp;&nbsp;Series 2025-H9, Class A1,<br> 5.036%, 11/25/2070 (B)(F) | &nbsp;&nbsp;339262 | 340075 |
| DSLA Mortgage Loan Trust<br> Series 2004-AR3, Class 2A2B (1 month CME Term SOFR + 1.014%)<br> 4.746%, 07/19/2044 (A) | &nbsp;&nbsp;190119 | 184160 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.797%, 02/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;44559 | &nbsp;&nbsp;&nbsp;39070 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (B)(F) | &nbsp;&nbsp;156110 | 132887 |
| &nbsp;&nbsp;&nbsp;Series 2025-INV4, Class A1,<br> 5.100%, 10/25/2070 (B) | &nbsp;&nbsp;195261 | 195801 |
| Flagstar Mortgage Trust<br> Series 2021-1, Class A2<br> 2.500%, 02/01/2051 (B)(F) | &nbsp;&nbsp;284303 | 237592 |
| FREMF Mortgage Trust<br> Series 2019-KF69, Class B (30 day Average SOFR + 2.414%)<br> 6.423%, 08/25/2029 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;87868 | &nbsp;&nbsp;&nbsp;84526 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.874%, 01/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;97987 | &nbsp;&nbsp;&nbsp;87835 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.036%, 05/25/2066 (B)(F) | &nbsp;&nbsp;105675 | &nbsp;&nbsp;&nbsp;92329 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (B)(F) | &nbsp;&nbsp;163061 | 143761 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM5, Class A1,<br> 0.000%, 08/25/2070 (B)(F) | &nbsp;&nbsp;356251 | 356742 |
| GS Mortgage-Backed Securities Trust<br> Series 2021-NQM1, Class A1<br> 1.017%, 07/25/2061 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;67316 | &nbsp;&nbsp;&nbsp;61336 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2007-3, Class ES IO,<br> 0.350%, 05/19/2037 (B) | 5749066 | &nbsp;&nbsp;&nbsp;89781 |
| &nbsp;&nbsp;&nbsp;Series 2007-4, Class ES IO,<br> 0.350%, 07/19/2037 | 5873583 | &nbsp;&nbsp;&nbsp;90347 |
| &nbsp;&nbsp;&nbsp;Series 2007-6, Class ES IO,<br> 0.343%, 08/19/2037 (B) | 6420759 | &nbsp;&nbsp;&nbsp;73129 |
| Hudson Yards Mortgage Trust<br> Series 2025-SPRL, Class A<br> 5.467%, 01/13/2040 (B)(F) | &nbsp;&nbsp;476000 | 493512 |
| Imperial Fund Mortgage Trust<br> Series 2021-NQM1, Class A1<br> 1.071%, 06/25/2056 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;91128 | &nbsp;&nbsp;&nbsp;80111 |
| JPMorgan Chase Commercial Mortgage Securities Trust<br> Series 2020-NNN, Class AFX<br> 2.812%, 01/16/2037 (B) | &nbsp;&nbsp;258000 | 232200 |
| MASTR Adjustable Rate Mortgages Trust<br> Series 2004-13, Class 2A1<br> 6.290%, 04/21/2034 (F) | &nbsp;&nbsp;&nbsp;&nbsp;34225 | &nbsp;&nbsp;&nbsp;33677 |
| MFA Trust<br> Series 2021-NQM1, Class A1<br> 1.153%, 04/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;58589 | &nbsp;&nbsp;&nbsp;55438 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Morgan Stanley Capital I Trust<br> Series 2019-L3, Class XA IO<br> 0.603%, 11/15/2052 | $19730636 | $393362 |
| Morgan Stanley Residential Mortgage Loan Trust<br> Series 2025-NQM10, Class A1<br> 5.119%, 11/25/2070 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;244000 | 244690 |
| Natixis Commercial Mortgage Securities Trust<br> Series 2018-ALXA, Class C<br> 4.316%, 01/15/2043 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;91927 |
| NRZT<br> Series 2025-NQM6, Class A1<br> 5.085%, 10/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;418973 | 420281 |
| NXPT Commercial Mortgage Trust<br> Series 2024-STOR, Class A<br> 4.312%, 11/05/2041 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;328000 | 325481 |
| NYMT Loan Trust<br> Series 2022-CP1, Class A1<br> 2.042%, 07/25/2061 (B) | &nbsp;&nbsp;&nbsp;&nbsp;90422 | &nbsp;&nbsp;&nbsp;85174 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A3,<br> 2.500%, 05/25/2060 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;78335 | &nbsp;&nbsp;&nbsp;67068 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.101%, 05/25/2061 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;265647 | 220236 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM18, Class A1,<br> 5.057%, 09/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;160718 | 161226 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM19, Class A1,<br> 4.869%, 10/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;321867 | 321929 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM20, Class A1,<br> 5.021%, 10/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;361241 | 362235 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM21, Class A1,<br> 4.989%, 10/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;238736 | 239280 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM23, Class A1,<br> 4.872%, 10/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;438000 | 438065 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR3, Class D,<br> 4.450%, 04/17/2039 (B) | &nbsp;&nbsp;&nbsp;&nbsp;950000 | 938835 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A,<br> 3.400%, 02/17/2042 (B) | &nbsp;&nbsp;&nbsp;&nbsp;382468 | 366959 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR2, Class A,<br> 3.305%, 04/17/2042 (B) | &nbsp;&nbsp;&nbsp;&nbsp;259149 | 247035 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR5, Class A,<br> 3.850%, 10/17/2042 (B) | &nbsp;&nbsp;&nbsp;&nbsp;326000 | 315752 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR6, Class A,<br> 4.000%, 12/17/2042 (B) | &nbsp;&nbsp;&nbsp;&nbsp;228000 | 221215 |
| Provident Funding Mortgage Trust<br> Series 2020-F1, Class A2<br> 2.000%, 01/25/2036 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;214007 | 192509 |
| ROCK Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class A,<br> 5.388%, 11/13/2041 (B) | &nbsp;&nbsp;&nbsp;&nbsp;446000 | 458211 |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class D,<br> 7.109%, 11/13/2041 (B) | &nbsp;&nbsp;&nbsp;&nbsp;557000 | 583625 |
| Sequoia Mortgage Trust<br> Series 2005-3, Class A1 (1 month CME Term SOFR + 0.514%)<br> 4.248%, 05/20/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;15865 | &nbsp;&nbsp;&nbsp;14721 |
| SLG Office Trust<br> Series 2021-OVA, Class D<br> 2.851%, 07/15/2041 (B) | &nbsp;&nbsp;&nbsp;&nbsp;352000 | 306881 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>13</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Structured Asset Securities Corp.<br> Series 1998-RF2, Class A<br> 4.739%, 07/15/2027 (B)(F) | $&nbsp;&nbsp;&nbsp;&nbsp;23829 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23791 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-6, Class M2,<br> 3.750%, 04/25/2055 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;801578 | &nbsp;&nbsp;&nbsp;&nbsp;794237 |
| &nbsp;&nbsp;&nbsp;Series 2018-4, Class A1,<br> 3.000%, 06/25/2058 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;162465 | &nbsp;&nbsp;&nbsp;&nbsp;154886 |
| &nbsp;&nbsp;&nbsp;Series 2019-1, Class A1,<br> 3.750%, 03/25/2058 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;109831 | &nbsp;&nbsp;&nbsp;&nbsp;107297 |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A1,<br> 2.900%, 10/25/2059 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;93539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90235 |
| &nbsp;&nbsp;&nbsp;Series 2020-4, Class A1,<br> 1.750%, 10/25/2060 (B) | &nbsp;&nbsp;&nbsp;&nbsp;246786 | &nbsp;&nbsp;&nbsp;&nbsp;226124 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A1A,<br> 4.578%, 10/27/2064 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;562411 | &nbsp;&nbsp;&nbsp;&nbsp;564147 |
| VDCM Commercial Mortgage Trust<br> Series 2025-AZ, Class A<br> 5.061%, 07/13/2044 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;324000 | &nbsp;&nbsp;&nbsp;&nbsp;327763 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;178484 | &nbsp;&nbsp;&nbsp;&nbsp;157460 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;106526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90246 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;150575 | &nbsp;&nbsp;&nbsp;&nbsp;131377 |
| &nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1,<br> 0.820%, 10/25/2063 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;32126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31145 |
| &nbsp;&nbsp;&nbsp;Series 2025-11, Class A1,<br> 4.914%, 11/25/2070 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;451075 | &nbsp;&nbsp;&nbsp;&nbsp;451500 |
| &nbsp;&nbsp;&nbsp;Series 2025-R2, Class A1,<br> 5.086%, 07/25/2067 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;211000 | &nbsp;&nbsp;&nbsp;&nbsp;211415 |
| Washington Mutual Mortgage Pass Through Certificates<br> Series 2005-1, Class 6A1<br> 6.500%, 03/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;128627 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-5C4, Class A3,<br> 5.673%, 05/15/2058 | &nbsp;&nbsp;&nbsp;&nbsp;319000 | &nbsp;&nbsp;&nbsp;&nbsp;333417 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C6, Class A3,<br> 5.186%, 10/15/2058 | &nbsp;&nbsp;&nbsp;&nbsp;368000 | &nbsp;&nbsp;&nbsp;&nbsp;378453 |
| WHARF Commercial Mortgage Trust<br> Series 2025-DC, Class A<br> 5.349%, 07/15/2040 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;369000 | &nbsp;&nbsp;&nbsp;&nbsp;379180 |
|  |  | 23441054 |
| **U.S. Government Agency – 1.0%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 290, Class IO,<br> 3.500%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;373631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27564 |
| &nbsp;&nbsp;&nbsp;Series 3387, Class SB IO,<br> 2.322%, 11/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;437907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42502 |
| &nbsp;&nbsp;&nbsp;Series K109, Class X1 IO,<br> 1.568%, 04/25/2030 | &nbsp;&nbsp;3038176 | &nbsp;&nbsp;&nbsp;&nbsp;167693 |
| &nbsp;&nbsp;&nbsp;Series K121, Class X1 IO,<br> 1.014%, 10/25/2030 | 12461573 | &nbsp;&nbsp;&nbsp;&nbsp;485533 |
| &nbsp;&nbsp;&nbsp;Series T-41, Class 3A,<br> 4.449%, 07/25/2032 (F) | &nbsp;&nbsp;&nbsp;&nbsp;29619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27425 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2001-50, Class BA,<br> 7.000%, 10/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1993 |
| &nbsp;&nbsp;&nbsp;Series 2002-W3, Class A5,<br> 7.500%, 11/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;32541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34181 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-137, Class WI IO,<br> 3.500%, 12/25/2032 | $&nbsp;&nbsp;&nbsp;&nbsp;337513 | $&nbsp;&nbsp;&nbsp;25970 |
| &nbsp;&nbsp;&nbsp;Series 2022-22, Class B,<br> 2.000%, 07/25/2054 | &nbsp;&nbsp;1007717 | 604195 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2008-90, Class IO,<br> 2.018%, 12/16/2050 | &nbsp;&nbsp;1937464 | 241561 |
| &nbsp;&nbsp;&nbsp;Series 2010-147, Class SA IO,<br> 2.322%, 05/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp;102861 | &nbsp;&nbsp;&nbsp;&nbsp;2406 |
| &nbsp;&nbsp;&nbsp;Series 2010-85, Class SB IO,<br> 2.751%, 03/16/2040 | &nbsp;&nbsp;&nbsp;&nbsp;257232 | &nbsp;&nbsp;&nbsp;12045 |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.634%, 01/16/2053 | &nbsp;&nbsp;&nbsp;&nbsp;193021 | &nbsp;&nbsp;&nbsp;&nbsp;2868 |
| &nbsp;&nbsp;&nbsp;Series 2012-120, Class IO,<br> 0.645%, 02/16/2053 | &nbsp;&nbsp;2814694 | &nbsp;&nbsp;&nbsp;41942 |
| &nbsp;&nbsp;&nbsp;Series 2015-86, Class IO,<br> 0.403%, 05/16/2052 | 18581349 | 255347 |
| &nbsp;&nbsp;&nbsp;Series 2016-174, Class IO,<br> 0.725%, 11/16/2056 | &nbsp;&nbsp;&nbsp;&nbsp;231809 | &nbsp;&nbsp;&nbsp;&nbsp;7131 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.202%, 04/16/2057 | &nbsp;&nbsp;&nbsp;&nbsp;455709 | &nbsp;&nbsp;&nbsp;&nbsp;4590 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.627%, 01/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;345615 | &nbsp;&nbsp;&nbsp;12439 |
| &nbsp;&nbsp;&nbsp;Series 2017-135, Class IO,<br> 0.693%, 10/16/2058 | &nbsp;&nbsp;&nbsp;&nbsp;815104 | &nbsp;&nbsp;&nbsp;24907 |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.485%, 02/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;358820 | &nbsp;&nbsp;&nbsp;&nbsp;9194 |
| &nbsp;&nbsp;&nbsp;Series 2017-159, Class IO,<br> 0.414%, 06/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;550472 | &nbsp;&nbsp;&nbsp;13414 |
| &nbsp;&nbsp;&nbsp;Series 2017-169, Class IO,<br> 0.521%, 01/16/2060 | &nbsp;&nbsp;1600910 | &nbsp;&nbsp;&nbsp;43784 |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.489%, 12/16/2058 | &nbsp;&nbsp;1210110 | &nbsp;&nbsp;&nbsp;24579 |
| &nbsp;&nbsp;&nbsp;Series 2017-22, Class IO,<br> 0.771%, 12/16/2057 | &nbsp;&nbsp;&nbsp;&nbsp;165540 | &nbsp;&nbsp;&nbsp;&nbsp;5936 |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.496%, 07/16/2058 | &nbsp;&nbsp;&nbsp;&nbsp;327679 | &nbsp;&nbsp;&nbsp;&nbsp;7668 |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.651%, 11/16/2057 | &nbsp;&nbsp;&nbsp;&nbsp;454294 | &nbsp;&nbsp;&nbsp;16927 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.688%, 05/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;198889 | &nbsp;&nbsp;&nbsp;&nbsp;6840 |
| &nbsp;&nbsp;&nbsp;Series 2018-158, Class IO,<br> 0.798%, 05/16/2061 | &nbsp;&nbsp;1509597 | &nbsp;&nbsp;&nbsp;89952 |
| &nbsp;&nbsp;&nbsp;Series 2018-35, Class IO,<br> 0.544%, 03/16/2060 | &nbsp;&nbsp;1316927 | &nbsp;&nbsp;&nbsp;40595 |
| &nbsp;&nbsp;&nbsp;Series 2018-43, Class IO,<br> 0.455%, 05/16/2060 | &nbsp;&nbsp;&nbsp;&nbsp;981644 | &nbsp;&nbsp;&nbsp;30913 |
| &nbsp;&nbsp;&nbsp;Series 2018-69, Class IO,<br> 0.609%, 04/16/2060 | &nbsp;&nbsp;&nbsp;&nbsp;342380 | &nbsp;&nbsp;&nbsp;15349 |
| &nbsp;&nbsp;&nbsp;Series 2018-81, Class IO,<br> 0.486%, 01/16/2060 | &nbsp;&nbsp;&nbsp;&nbsp;259468 | &nbsp;&nbsp;&nbsp;10652 |
| &nbsp;&nbsp;&nbsp;Series 2018-9, Class IO,<br> 0.444%, 01/16/2060 | &nbsp;&nbsp;1542464 | &nbsp;&nbsp;&nbsp;45406 |
| &nbsp;&nbsp;&nbsp;Series 2019-131, Class IO,<br> 0.803%, 07/16/2061 | &nbsp;&nbsp;1189582 | &nbsp;&nbsp;&nbsp;67492 |
| &nbsp;&nbsp;&nbsp;Series 2020-100, Class IO,<br> 0.787%, 05/16/2062 | &nbsp;&nbsp;1381903 | &nbsp;&nbsp;&nbsp;82392 |
| &nbsp;&nbsp;&nbsp;Series 2020-108, Class IO,<br> 0.847%, 06/16/2062 | &nbsp;&nbsp;3001926 | 171744 |
| &nbsp;&nbsp;&nbsp;Series 2020-114, Class IO,<br> 0.799%, 09/16/2062 | &nbsp;&nbsp;3167651 | 164917 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>14</sub>

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.886%, 06/16/2062 | 2322111 | $&nbsp;&nbsp;&nbsp;&nbsp;144985 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.608%, 08/16/2062 | 1288244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58966 |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.759%, 05/16/2062 | &nbsp;&nbsp;714571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41531 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.799%, 09/16/2062 | 3449855 | &nbsp;&nbsp;&nbsp;&nbsp;198262 |
| &nbsp;&nbsp;&nbsp;Series 2020-143, Class IB IO,<br> 0.883%, 03/16/2062 | 3983257 | &nbsp;&nbsp;&nbsp;&nbsp;250629 |
| &nbsp;&nbsp;&nbsp;Series 2020-150, Class IO,<br> 0.966%, 12/16/2062 | 2106430 | &nbsp;&nbsp;&nbsp;&nbsp;142545 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.836%, 11/16/2062 | 2799030 | &nbsp;&nbsp;&nbsp;&nbsp;179531 |
| &nbsp;&nbsp;&nbsp;Series 2020-28, Class IO,<br> 0.822%, 11/16/2061 | 4906679 | &nbsp;&nbsp;&nbsp;&nbsp;272667 |
| &nbsp;&nbsp;&nbsp;Series 2020-92, Class IO,<br> 0.881%, 02/16/2062 | 3187163 | &nbsp;&nbsp;&nbsp;&nbsp;176595 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class IO,<br> 0.870%, 09/16/2062 | 3503457 | &nbsp;&nbsp;&nbsp;&nbsp;221966 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.822%, 02/16/2063 | &nbsp;&nbsp;859949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52517 |
| &nbsp;&nbsp;&nbsp;Series 2022-150, Class IO,<br> 0.823%, 06/16/2064 | &nbsp;&nbsp;296685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16738 |
| &nbsp;&nbsp;&nbsp;Series 2022-17, Class IO,<br> 0.802%, 06/16/2064 | 1913092 | &nbsp;&nbsp;&nbsp;&nbsp;107528 |
| &nbsp;&nbsp;&nbsp;Series 2022-181, Class IO,<br> 0.720%, 07/16/2064 | &nbsp;&nbsp;915342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55158 |
| &nbsp;&nbsp;&nbsp;Series 2022-21, Class IO,<br> 0.785%, 10/16/2063 | &nbsp;&nbsp;845121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51812 |
| &nbsp;&nbsp;&nbsp;Series 2023-177, Class IO,<br> 0.857%, 06/16/2065 | 1976427 | &nbsp;&nbsp;&nbsp;&nbsp;116480 |
| &nbsp;&nbsp;&nbsp;Series 2023-197, Class IO,<br> 1.241%, 09/16/2065 | &nbsp;&nbsp;598282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49742 |
| &nbsp;&nbsp;&nbsp;Series 2023-30, Class IO,<br> 1.001%, 11/16/2064 | 1211685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80104 |
| &nbsp;&nbsp;&nbsp;Series 2024-179, Class XI IO,<br> 0.831%, 12/16/2066 | 4489751 | &nbsp;&nbsp;&nbsp;&nbsp;318076 |
| &nbsp;&nbsp;&nbsp;Series 2025-126, Class IO,<br> 0.768%, 05/16/2067 | 2270298 | &nbsp;&nbsp;&nbsp;&nbsp;160163 |
|  |  | &nbsp;&nbsp;&nbsp;5566041 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $32,762,054) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $32,762,054) | $29007095 |
| **ASSET-BACKED SECURITIES – 5.8%** | **ASSET-BACKED SECURITIES – 5.8%** |  |
| ABPCI Direct Lending Fund I, Ltd.<br> Series 2020-1A, Class A<br> 3.199%, 12/29/2030 (B) | &nbsp;&nbsp;&nbsp;&nbsp;70383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69783 |
| Aligned Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 1.937%, 08/15/2046 (B) | &nbsp;&nbsp;122000 | &nbsp;&nbsp;&nbsp;&nbsp;119815 |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 6.500%, 11/16/2048 (B) | &nbsp;&nbsp;193000 | &nbsp;&nbsp;&nbsp;&nbsp;195750 |
| AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A<br> 3.655%, 06/17/2042 (B) | &nbsp;&nbsp;177000 | &nbsp;&nbsp;&nbsp;&nbsp;170799 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR2, Class A<br> 4.275%, 11/17/2042 (B) | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;260117 |
| Aqua Finance Trust<br> Series 2021-A, Class A<br> 1.540%, 07/17/2046 (B) | &nbsp;&nbsp;&nbsp;&nbsp;46904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43153 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Arby's Funding LLC<br> Series 2020-1A, Class A2<br> 3.237%, 07/30/2050 (B) | $450063 | $438351 |
| Capital One Prime Auto Receivables Trust<br> Series 2025-1, Class A3<br> 3.850%, 07/15/2030 | 164000 | 164076 |
| Carvana Auto Receivables Trust<br> Series 2025-P4, Class A3<br> 4.140%, 12/10/2030 | 273000 | 273725 |
| Centex Home Equity Loan Trust<br> Series 2005-A, Class M4 (1 month CME Term SOFR + 1.314%)<br> 5.046%, 01/25/2035 (A) | 156736 | 153341 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1<br> 1.690%, 07/15/2060 (B) | 388423 | 326813 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1<br> 1.530%, 03/15/2061 (B) | 357630 | 288685 |
| CLI Funding IX LLC<br> Series 2025-1A, Class A<br> 5.350%, 06/20/2050 (B) | 336153 | 340814 |
| CLI Funding VI LLC<br> Series 2020-1A, Class A<br> 2.080%, 09/18/2045 (B) | 289967 | 273642 |
| CLI Funding VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.640%, 02/18/2046 (B) | 224889 | 209343 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A<br> 2.720%, 01/18/2047 (B) | 556747 | 518277 |
| Compass Datacenters Issuer II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 5.250%, 02/25/2049 (B) | 320000 | 321775 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A1<br> 5.316%, 05/25/2050 (B) | 322000 | 324896 |
| Compass Datacenters Issuer III LLC<br> Series 2025-2A, Class A2<br> 5.835%, 02/25/2050 (B) | 175000 | 177609 |
| Concord Music Royalties LLC<br> Series 2025-2A, Class A<br> 5.785%, 07/20/2075 (B) | 306000 | 308045 |
| Consolidated Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 6.000%, 05/20/2055 (B) | 392000 | 401114 |
| &nbsp;&nbsp;&nbsp;Series 2025-4A, Class A2<br> 5.522%, 12/20/2055 (B) | 217000 | 218049 |
| ContiMortgage Home Equity Loan Trust<br> Series 1995-2, Class A5<br> 8.100%, 08/15/2025 (G) | &nbsp;&nbsp;&nbsp;5120 | &nbsp;&nbsp;&nbsp;&nbsp;5246 |
| CyrusOne Data Centers Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 4.300%, 04/20/2048 (B) | 523000 | 515627 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 4.500%, 05/20/2049 (B) | 493000 | 481134 |
| DataBank Issuer<br> Series 2021-1A, Class A2<br> 2.060%, 02/27/2051 (B) | 225000 | 223983 |
| DB Master Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A2II<br> 4.030%, 11/20/2047 (B) | 183578 | 182355 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II<br> 2.493%, 11/20/2051 (B) | 960000 | 908516 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2I<br> 4.891%, 08/20/2055 (B) | 200000 | 200409 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2II<br> 5.165%, 08/20/2055 (B) | 214000 | 214224 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 15 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Diamond Infrastructure Funding LLC<br> Series 2021-1A, Class C<br> 3.475%, 04/15/2049 (B) | $&nbsp;&nbsp;370000 | $&nbsp;&nbsp;&nbsp;&nbsp;359095 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (B) | 1302178 | 1237751 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2I<br> 4.930%, 07/25/2055 (B) | &nbsp;&nbsp;231000 | &nbsp;&nbsp;&nbsp;&nbsp;232169 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2II<br> 5.217%, 07/25/2055 (B) | &nbsp;&nbsp;268000 | &nbsp;&nbsp;&nbsp;&nbsp;269799 |
| Driven Brands Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 3.237%, 01/20/2051 (B) | &nbsp;&nbsp;275994 | &nbsp;&nbsp;&nbsp;&nbsp;267440 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.791%, 10/20/2051 (B) | &nbsp;&nbsp;405544 | &nbsp;&nbsp;&nbsp;&nbsp;383102 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.296%, 10/20/2055 (B) | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;288937 |
| FirstKey Homes Trust<br> Series 2021-SFR1, Class D<br> 2.189%, 08/17/2038 (B) | &nbsp;&nbsp;246000 | &nbsp;&nbsp;&nbsp;&nbsp;241774 |
| Flexential Issuer LLC<br> Series 2025-1A, Class A2<br> 6.030%, 10/25/2060 (B) | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;218862 |
| Ford Credit Auto Owner Trust<br> Series 2025-C, Class A3<br> 3.900%, 06/15/2030 | &nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;293779 |
| GM Financial Consumer Automobile Receivables Trust<br> Series 2025-4, Class A3<br> 3.840%, 02/18/2031 | &nbsp;&nbsp;153000 | &nbsp;&nbsp;&nbsp;&nbsp;153122 |
| GM Financial Revolving Receivables Trust<br> Series 2024-1, Class A<br> 4.980%, 12/11/2036 (B) | &nbsp;&nbsp;298000 | &nbsp;&nbsp;&nbsp;&nbsp;306455 |
| Golub Capital Partners Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 3.208%, 01/22/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;83032 | &nbsp;&nbsp;&nbsp;&nbsp;82842 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.773%, 04/20/2029 (B) | &nbsp;&nbsp;200707 | &nbsp;&nbsp;&nbsp;&nbsp;199901 |
| HI-FI Music IP Issuer LP<br> Series 2022-1A, Class A2<br> 3.939%, 02/01/2062 (B) | &nbsp;&nbsp;483000 | &nbsp;&nbsp;&nbsp;&nbsp;477322 |
| Honda Auto Receivables Owner Trust<br> Series 2025-4, Class A3<br> 3.980%, 06/17/2030 | &nbsp;&nbsp;441000 | &nbsp;&nbsp;&nbsp;&nbsp;443341 |
| Hotwire Funding LLC<br> Series 2024-1A, Class A2<br> 5.893%, 06/20/2054 (B) | &nbsp;&nbsp;148000 | &nbsp;&nbsp;&nbsp;&nbsp;150521 |
| Hyundai Auto Receivables Trust<br> Series 2025-D, Class A3<br> 3.990%, 09/16/2030 | &nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp;317214 |
| Invitation Homes Trust<br> Series 2024-SFR1, Class A<br> 4.000%, 09/17/2041 (B) | &nbsp;&nbsp;588991 | &nbsp;&nbsp;&nbsp;&nbsp;579991 |
| Jersey Mike's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.636%, 02/15/2055 (B) | &nbsp;&nbsp;447618 | &nbsp;&nbsp;&nbsp;&nbsp;456614 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.610%, 08/16/2055 (B) | &nbsp;&nbsp;432915 | &nbsp;&nbsp;&nbsp;&nbsp;440667 |
| LAD Auto Receivables Trust<br> Series 2025-3A, Class A3<br> 4.030%, 01/15/2031 (B) | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;198732 |
| Lyra Music Assets LP<br> Series 2025-1A, Class A2<br> 5.604%, 09/20/2065 (B) | &nbsp;&nbsp;341754 | &nbsp;&nbsp;&nbsp;&nbsp;344602 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| MetroNet Infrastructure Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A2<br> 5.400%, 08/20/2055 (B) | $380000 | $385356 |
| &nbsp;&nbsp;&nbsp;Series 2025-4A, Class A2<br> 5.163%, 12/20/2055 (B) | 180000 | 180306 |
| Navient Student Loan Trust<br> Series 2020-2A, Class A1A<br> 1.320%, 08/26/2069 (B) | 116802 | 104434 |
| Neighborly Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 3.584%, 04/30/2051 (B) | 613110 | 588390 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2<br> 3.695%, 01/30/2052 (B) | 245438 | 232299 |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 7.308%, 01/30/2053 (B) | 486250 | 492715 |
| New Economy Assets - Phase 1<br> Sponsor LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 1.910%, 10/20/2061 (B) | 503000 | 419901 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B1<br> 2.410%, 10/20/2061 (B) | 389000 | 238668 |
| Nissan Auto Receivables Owner Trust<br> Series 2025-B, Class A3<br> 3.990%, 04/15/2030 | 365000 | 366481 |
| NRZ Excess Spread-Collateralized Notes<br> Series 2021-FHT1, Class A<br> 3.104%, 07/25/2026 (B) | &nbsp;&nbsp;33292 | &nbsp;&nbsp;&nbsp;32890 |
| Renaissance Home Equity Loan Trust<br> Series 2005-2, Class AF4<br> 5.434%, 08/25/2035 | &nbsp;&nbsp;&nbsp;4136 | &nbsp;&nbsp;&nbsp;&nbsp;4125 |
| Retained Vantage Data Centers Issuer LLC<br> Series 2023-1A, Class A2A<br> 5.000%, 09/15/2048 (B) | 355000 | 353893 |
| RIN II, Ltd.<br> Series 2019-1A, Class AR (3 month CME Term SOFR + 1.480%)<br> 5.385%, 01/15/2038 (A)(B) | 278000 | 278349 |
| RIN XII LLC<br> Series 2025-1A, Class A1 (3 month CME Term SOFR + 1.300%)<br> 5.205%, 04/15/2038 (A)(B) | 291000 | 290104 |
| Scalelogix ABS US Issuer LLC<br> Series 2025-1A, Class A2<br> 5.673%, 07/25/2055 (B) | 331000 | 331944 |
| ServiceMaster Funding LLC<br> Series 2021-1, Class A2II<br> 3.113%, 07/30/2051 (B) | 327486 | 283534 |
| SERVPRO Master Issuer LLC<br> Series 2024-1A, Class A2<br> 6.174%, 01/25/2054 (B) | 241695 | 249479 |
| Sesac Finance LLC<br> Series 2025-1, Class A2<br> 5.500%, 07/25/2055 (B) | 371000 | 368698 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class APT2<br> 1.070%, 01/15/2053 (B) | 107059 | &nbsp;&nbsp;&nbsp;98047 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A1A<br> 5.240%, 03/15/2056 (B) | 462234 | 470098 |
| &nbsp;&nbsp;&nbsp;Series 2024-E, Class A1A<br> 5.090%, 10/16/2056 (B) | 347971 | 353373 |
| Sonic Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2I<br> 3.845%, 01/20/2050 (B) | 496053 | 490919 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.190%, 08/20/2051 (B) | 349488 | 325404 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 16 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| STORE Master Funding LLC<br> Series 2019-1, Class A2<br> 3.650%, 11/20/2049 (B) | $281525 | $240808 |
| Subway Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2I<br> 6.028%, 07/30/2054 (B) | 262350 | 265956 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2II<br> 6.268%, 07/30/2054 (B) | 234630 | 239565 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A23<br> 5.914%, 07/30/2054 (B) | 582120 | 577160 |
| Summit Issuer LLC<br> Series 2025-1A, Class A2<br> 5.208%, 11/20/2055 (B) | 384000 | 384830 |
| Sunbird Engine Finance LLC<br> Series 2020-1A, Class A<br> 3.671%, 02/15/2045 (B) | &nbsp;&nbsp;77363 | &nbsp;&nbsp;&nbsp;76508 |
| Switch ABS Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 5.436%, 06/25/2054 (B) | 128000 | 128374 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.036%, 03/25/2055 (B) | 521000 | 512144 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A21<br> 5.121%, 10/25/2055 (B) | 254000 | 253632 |
| Taco Bell Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2I<br> 4.821%, 08/25/2055 (B) | 359000 | 356987 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2II<br> 5.049%, 08/25/2055 (B) | 343000 | 341702 |
| TAL Advantage VII LLC<br> Series 2020-1A, Class B<br> 3.290%, 09/20/2045 (B) | 224375 | 215871 |
| TIF Funding II LLC<br> Series 2021-1A, Class A<br> 1.650%, 02/20/2046 (B) | 553917 | 507666 |
| Tricon American Homes Trust<br> Series 2020-SFR2, Class D<br> 2.281%, 11/17/2039 (B) | 500000 | 475323 |
| Triton Container Finance VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.110%, 09/20/2045 (B) | 367136 | 346448 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.860%, 03/20/2046 (B) | 202129 | 187901 |
| Uniti Fiber Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.877%, 04/20/2055 (B) | 224000 | 228717 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A2<br> 5.177%, 01/20/2056 (B) | 222000 | 221985 |
| Vantage Data Centers LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 1.992%, 09/15/2045 (B) | 312000 | 297056 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.165%, 10/15/2046 (B) | 400000 | 391853 |
| Verizon Master Trust<br> Series 2025-9, Class A1A<br> 3.960%, 10/21/2030 | 338000 | 338888 |
| Volkswagen Auto Loan Enhanced Trust<br> Series 2025-2, Class A3<br> 3.920%, 03/20/2030 | 222000 | 222548 |
| Wendy's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2II<br> 4.080%, 06/15/2049 (B) | 429389 | 418100 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.370%, 06/15/2051 (B) | 288162 | 268557 |
| Wheels Fleet Lease Funding 1 LLC<br> Series 2025-3A, Class A1<br> 4.080%, 09/18/2040 (B) | 342000 | 342886 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Willis Engine Structured Trust IX<br> Series 2025-B, Class A<br> 5.159%, 12/15/2050 (B) | 250000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250499 |
| Willis Engine Structured Trust V<br> Series 2020-A, Class A<br> 3.228%, 03/15/2045 (B) | 112763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109032 |
| Willis Engine Structured Trust VIII<br> Series 2025-A, Class A<br> 5.582%, 06/15/2050 (B) | 245572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249404 |
| Wingstop Funding LLC<br> Series 2024-1A, Class A2<br> 5.858%, 12/05/2054 (B) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256872 |
| Zaxby's Funding LLC<br> Series 2021-1A, Class A2<br> 3.238%, 07/30/2051 (B) | 269058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253923 |
| Zayo Issuer LLC<br> Series 2025-1A, Class A2<br> 5.648%, 03/20/2055 (B) | 389000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395644 |
| TOTAL ASSET-BACKED SECURITIES (Cost $32,991,075) |  | $&nbsp;&nbsp;32569744 |
| **COMMON STOCKS – 0.0%** |  |  |
| **Energy – 0.0%** |  |  |
| Altera Infrastructure LP (H)(I) | &nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37881 |
| TOTAL COMMON STOCKS (Cost $237,384) | TOTAL COMMON STOCKS (Cost $237,384) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37881 |
| **PREFERRED SECURITIES – 0.0%** |  |  |
| **Communication services – 0.0%** |  |  |
| Telephone & Data Systems, Inc., 6.625% | &nbsp;&nbsp;&nbsp;5925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123359 |
| TOTAL PREFERRED SECURITIES (Cost $148,125) | TOTAL PREFERRED SECURITIES (Cost $148,125) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123359 |
| **SHORT-TERM INVESTMENTS – 0.2%** | **SHORT-TERM INVESTMENTS – 0.2%** |  |
| **Short-term funds – 0.2%** |  |  |
| John Hancock Collateral Trust, 3.7477% (J)(K) | 132975 | &nbsp;&nbsp;&nbsp;&nbsp;1330316 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,330,317) | TOTAL SHORT-TERM INVESTMENTS (Cost $1,330,317) | $&nbsp;&nbsp;&nbsp;&nbsp;1330316 |
| **Total Investments (Active Bond Trust)<br> (Cost $570,329,433) – 99.1%** | **Total Investments (Active Bond Trust)<br> (Cost $570,329,433) – 99.1%** | $**559639436** |
| **Other assets and liabilities, net – 0.9%** |  | &nbsp;&nbsp;&nbsp;**4837951** |
| **TOTAL NET ASSETS – 100.0%** |  | $**564477387** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| IBOR | Interbank Offered Rate |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| SOFR | Secured Overnight Financing Rate |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | This security is 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 $127,263,523 or 22.5% of the fund's net assets as of 12-31-25. |
| (C) | All or a portion of this security is on loan as of 12-31-25. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
| (F) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 17 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)
(G) The security has matured but proceeds have not been received.

(H) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.

(I) Non-income producing security.

(J) The rate shown is the annualized seven-day yield as of 12-31-25.

(K) Investment is an affiliate of the portfolio, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received
for securities lending. Market value of this investment amounted to $540,930.

#### Core Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 53.2%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 53.2%** |  |
| **U.S. Government – 25.0%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 08/15/2040 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526303 |
| &nbsp;&nbsp;&nbsp;1.375%, 08/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9649000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4744217 |
| &nbsp;&nbsp;&nbsp;1.625%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4466000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2344650 |
| &nbsp;&nbsp;&nbsp;1.750%, 08/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16698000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11266584 |
| &nbsp;&nbsp;&nbsp;2.000%, 11/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16264000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11351128 |
| &nbsp;&nbsp;&nbsp;2.250%, 08/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13226000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8294665 |
| &nbsp;&nbsp;&nbsp;2.375%, 02/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2906000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139088 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2048 to 02/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19733000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14604194 |
| &nbsp;&nbsp;&nbsp;3.125%, 05/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045821 |
| &nbsp;&nbsp;&nbsp;4.625%, 11/15/2045 to 11/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14529000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14160130 |
| &nbsp;&nbsp;&nbsp;4.750%, 08/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14777000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14527638 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 11/30/2027 to 12/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6337652 |
| &nbsp;&nbsp;&nbsp;3.500%, 12/15/2028 to 11/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20103000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20006419 |
| &nbsp;&nbsp;&nbsp;3.625%, 03/31/2030 to 12/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38849000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38699371 |
| &nbsp;&nbsp;&nbsp;3.750%, 06/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5473010 |
| &nbsp;&nbsp;&nbsp;3.875%, 12/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6404000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6375983 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/31/2030 to 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27411000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27204483 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5177000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5268002 |
| &nbsp;&nbsp;&nbsp;4.625%, 09/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5406000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5617594 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199986932 |
| **U.S. Government Agency – 28.2%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/01/2040 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6394446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5619651 |
| &nbsp;&nbsp;&nbsp;2.500%, 07/01/2033 to 04/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18934733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16535598 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2043 to 01/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16439414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15012368 |
| &nbsp;&nbsp;&nbsp;3.089%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.621%), 02/01/2050 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412502 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380345 |
| &nbsp;&nbsp;&nbsp;4.201%, (30 day Average SOFR + 2.307%), 05/01/2053 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247480 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/01/2039 to 07/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59852 |
| &nbsp;&nbsp;&nbsp;4.628%, (30 day Average SOFR + 2.352%), 03/01/2053 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814255 |
| &nbsp;&nbsp;&nbsp;4.734%, (30 day Average SOFR + 2.335%), 10/01/2054 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553935 |
| &nbsp;&nbsp;&nbsp;4.782%, (30 day Average SOFR + 2.146%), 01/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671572 |
| &nbsp;&nbsp;&nbsp;4.977%, (30 day Average SOFR + 2.060%), 07/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212551 |
| &nbsp;&nbsp;&nbsp;4.986%, (30 day Average SOFR + 2.258%), 02/01/2054 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255636 |
| &nbsp;&nbsp;&nbsp;5.013%, (30 day Average SOFR + 2.139%), 06/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422931 |
| &nbsp;&nbsp;&nbsp;5.013%, (30 day Average SOFR + 2.060%), 06/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333963 |
| &nbsp;&nbsp;&nbsp;5.076%, (30 day Average SOFR + 2.187%), 08/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195446 |

---

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.078%, (30 day Average SOFR + 2.060%), 08/01/2055 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;419863 | $&nbsp;&nbsp;&nbsp;&nbsp;425794 |
| &nbsp;&nbsp;&nbsp;5.086%, (30 day Average SOFR + 2.095%), 11/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;964713 | &nbsp;&nbsp;&nbsp;&nbsp;976966 |
| &nbsp;&nbsp;&nbsp;5.100%, (30 day Average SOFR + 2.167%), 06/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;334624 | &nbsp;&nbsp;&nbsp;&nbsp;339238 |
| &nbsp;&nbsp;&nbsp;5.144%, (30 day Average SOFR + 2.060%), 07/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;329990 | &nbsp;&nbsp;&nbsp;&nbsp;334878 |
| &nbsp;&nbsp;&nbsp;5.190%, (30 day Average SOFR + 2.200%), 06/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;569878 | &nbsp;&nbsp;&nbsp;&nbsp;579477 |
| &nbsp;&nbsp;&nbsp;5.250%, (30 day Average SOFR + 2.075%), 07/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;884526 | &nbsp;&nbsp;&nbsp;&nbsp;896557 |
| &nbsp;&nbsp;&nbsp;5.284%, (30 day Average SOFR + 2.075%), 07/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;343393 | &nbsp;&nbsp;&nbsp;&nbsp;349335 |
| &nbsp;&nbsp;&nbsp;5.323%, (30 day Average SOFR + 2.105%), 08/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;339840 | &nbsp;&nbsp;&nbsp;&nbsp;346100 |
| &nbsp;&nbsp;&nbsp;5.335%, (30 day Average SOFR + 2.330%), 08/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;422279 | &nbsp;&nbsp;&nbsp;&nbsp;429480 |
| &nbsp;&nbsp;&nbsp;5.431%, (30 day Average SOFR + 2.330%), 08/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;551211 | &nbsp;&nbsp;&nbsp;&nbsp;560371 |
| &nbsp;&nbsp;&nbsp;5.435%, (30 day Average SOFR + 2.090%), 05/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;231628 | &nbsp;&nbsp;&nbsp;&nbsp;236009 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/01/2055 to 07/01/2055 | &nbsp;&nbsp;5583671 | &nbsp;&nbsp;&nbsp;5683117 |
| &nbsp;&nbsp;&nbsp;5.604%, (30 day Average SOFR + 2.330%), 07/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;639586 | &nbsp;&nbsp;&nbsp;&nbsp;653102 |
| &nbsp;&nbsp;&nbsp;6.000%, 09/01/2054 to 06/01/2055 | 11281717 | 11721017 |
| &nbsp;&nbsp;&nbsp;6.322%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.640%), 11/01/2048 (A) | &nbsp;&nbsp;&nbsp;&nbsp;224610 | &nbsp;&nbsp;&nbsp;&nbsp;230346 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/01/2054 to 10/01/2055 | &nbsp;&nbsp;3024417 | &nbsp;&nbsp;&nbsp;3217325 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/01/2040 to 03/01/2047 | 16825456 | 14580594 |
| &nbsp;&nbsp;&nbsp;2.500%, 05/01/2037 to 05/01/2052 | 15237120 | 13386678 |
| &nbsp;&nbsp;&nbsp;2.753%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.606%), 06/01/2050 (A) | &nbsp;&nbsp;&nbsp;&nbsp;303559 | &nbsp;&nbsp;&nbsp;&nbsp;295660 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/01/2042 to 07/01/2060 | 45468583 | 41291935 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/01/2027 to 12/01/2048 | &nbsp;&nbsp;1532085 | &nbsp;&nbsp;&nbsp;1499051 |
| &nbsp;&nbsp;&nbsp;4.102%, (30 day Average SOFR + 2.120%), 09/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;590198 | &nbsp;&nbsp;&nbsp;&nbsp;601722 |
| &nbsp;&nbsp;&nbsp;4.130%, (30 day Average SOFR + 2.124%), 11/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;487475 | &nbsp;&nbsp;&nbsp;&nbsp;497155 |
| &nbsp;&nbsp;&nbsp;4.131%, (30 day Average SOFR + 2.134%), 10/01/2052 (A) | &nbsp;&nbsp;1437318 | &nbsp;&nbsp;&nbsp;1462310 |
| &nbsp;&nbsp;&nbsp;4.345%, (30 day Average SOFR + 2.161%), 01/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;609840 | &nbsp;&nbsp;&nbsp;&nbsp;617205 |
| &nbsp;&nbsp;&nbsp;4.359%, (30 day Average SOFR + 2.125%), 07/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;757682 | &nbsp;&nbsp;&nbsp;&nbsp;762190 |
| &nbsp;&nbsp;&nbsp;4.500%, 03/01/2043 to 02/01/2046 | &nbsp;&nbsp;1048822 | &nbsp;&nbsp;&nbsp;1046346 |
| &nbsp;&nbsp;&nbsp;4.536%, (30 day Average SOFR + 2.330%), 04/01/2053 (A) | &nbsp;&nbsp;2055855 | &nbsp;&nbsp;&nbsp;2055870 |
| &nbsp;&nbsp;&nbsp;4.584%, (30 day Average SOFR + 2.127%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;806169 | &nbsp;&nbsp;&nbsp;&nbsp;814787 |
| &nbsp;&nbsp;&nbsp;4.602%, (30 day Average SOFR + 2.123%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;642736 | &nbsp;&nbsp;&nbsp;&nbsp;646316 |
| &nbsp;&nbsp;&nbsp;4.633%, (30 day Average SOFR + 2.129%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;457428 | &nbsp;&nbsp;&nbsp;&nbsp;462637 |
| &nbsp;&nbsp;&nbsp;4.669%, (30 day Average SOFR + 2.298%), 04/01/2053 (A) | &nbsp;&nbsp;2512441 | &nbsp;&nbsp;&nbsp;2541416 |
| &nbsp;&nbsp;&nbsp;4.851%, (30 day Average SOFR + 2.277%), 07/01/2054 (A) | &nbsp;&nbsp;1254689 | &nbsp;&nbsp;&nbsp;1274192 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 18 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.941%, (30 day Average SOFR + 2.164%), 04/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;496624 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504093 |
| &nbsp;&nbsp;&nbsp;4.964%, (30 day Average SOFR + 2.310%), 05/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;586278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591554 |
| &nbsp;&nbsp;&nbsp;4.995%, (30 day Average SOFR + 2.050%), 08/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;202412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205497 |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (B) | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;2593500 |
| &nbsp;&nbsp;&nbsp;5.050%, (30 day Average SOFR + 2.082%), 07/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;606373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616153 |
| &nbsp;&nbsp;&nbsp;5.224%, (30 day Average SOFR + 2.318%), 02/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;933092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949999 |
| &nbsp;&nbsp;&nbsp;5.372%, (30 day Average SOFR + 2.332%), 08/01/2054 (A) | &nbsp;&nbsp;&nbsp;&nbsp;833636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852197 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;8800000 | &nbsp;&nbsp;&nbsp;&nbsp;8922719 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/01/2054 to 07/01/2055 | 16593688 | &nbsp;&nbsp;&nbsp;16906524 |
| &nbsp;&nbsp;&nbsp;5.590%, (30 day Average SOFR + 2.094%), 12/01/2053 (A) | &nbsp;&nbsp;&nbsp;&nbsp;373147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382781 |
| &nbsp;&nbsp;&nbsp;5.595%, (30 day Average SOFR + 2.060%), 08/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;588501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603249 |
| &nbsp;&nbsp;&nbsp;5.770%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.604%), 03/01/2050 (A) | &nbsp;&nbsp;&nbsp;&nbsp;522259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534295 |
| &nbsp;&nbsp;&nbsp;6.000%, 12/01/2053 to 11/01/2055 | 12204032 | &nbsp;&nbsp;&nbsp;12687759 |
| &nbsp;&nbsp;&nbsp;6.500%, 12/01/2053 to 11/01/2055 | &nbsp;&nbsp;2040601 | &nbsp;&nbsp;&nbsp;&nbsp;2167925 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 12/20/2037 to 07/20/2050 | &nbsp;&nbsp;4308012 | &nbsp;&nbsp;&nbsp;&nbsp;3811693 |
| &nbsp;&nbsp;&nbsp;3.000%, 06/20/2043 to 10/20/2050 | &nbsp;&nbsp;3470874 | &nbsp;&nbsp;&nbsp;&nbsp;3149936 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp;317123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298607 |
| &nbsp;&nbsp;&nbsp;4.000%, 08/20/2052 | &nbsp;&nbsp;6156040 | &nbsp;&nbsp;&nbsp;&nbsp;5869062 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;2524131 |
| &nbsp;&nbsp;&nbsp;5.500%, 08/20/2055 | &nbsp;&nbsp;2803014 | &nbsp;&nbsp;&nbsp;&nbsp;2834421 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/20/2053 to 07/20/2055 | &nbsp;&nbsp;3678078 | &nbsp;&nbsp;&nbsp;&nbsp;3774259 |
|  |  | 225323615 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $426,390,069) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $426,390,069) | $425310547 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 1.3%** | **FOREIGN GOVERNMENT OBLIGATIONS – 1.3%** |  |
| **Australia – 0.1%** |  |  |
| Export Finance & Insurance Corp.<br> 4.625%, 10/26/2027 (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859678 |
| **Indonesia – 0.2%** |  |  |
| Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 04/16/2031 (D) | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748255 |
| &nbsp;&nbsp;&nbsp;4.900%, 04/16/2036 | &nbsp;&nbsp;&nbsp;&nbsp;743000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741600 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1489855 |
| **Israel – 0.1%** |  |  |
| State of Israel |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 07/03/2050 | &nbsp;&nbsp;&nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218853 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/12/2054 | &nbsp;&nbsp;&nbsp;&nbsp;427000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410777 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629630 |
| **Kuwait – 0.5%** |  |  |
| State of Kuwait |  |  |
| &nbsp;&nbsp;&nbsp;4.016%, 10/09/2028 (C) | &nbsp;&nbsp;1245000 | &nbsp;&nbsp;&nbsp;&nbsp;1246550 |
| &nbsp;&nbsp;&nbsp;4.136%, 10/09/2030 (C) | &nbsp;&nbsp;1915000 | &nbsp;&nbsp;&nbsp;&nbsp;1914194 |
| &nbsp;&nbsp;&nbsp;4.652%, 10/09/2035 (C) | &nbsp;&nbsp;&nbsp;&nbsp;704000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703028 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3863772 |
| **Mexico – 0.3%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 02/12/2034 | &nbsp;&nbsp;&nbsp;&nbsp;304000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262808 |
| &nbsp;&nbsp;&nbsp;4.400%, 02/12/2052 | &nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149343 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Mexico (continued)** |  |  |
| Government of Mexico (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 01/23/2046 | &nbsp;&nbsp;348000 | $&nbsp;&nbsp;&nbsp;&nbsp;273180 |
| &nbsp;&nbsp;&nbsp;4.600%, 02/10/2048 | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;288143 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/08/2044 | &nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp;294992 |
| &nbsp;&nbsp;&nbsp;5.375%, 03/22/2033 | 1298000 | &nbsp;&nbsp;&nbsp;1286318 |
|  |  | &nbsp;&nbsp;&nbsp;2554784 |
| **Paraguay – 0.1%** |  |  |
| Republic of Paraguay<br> 5.400%, 03/30/2050 (C) | &nbsp;&nbsp;911000 | &nbsp;&nbsp;&nbsp;&nbsp;851256 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $10,172,689) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $10,172,689) | $10248975 |
| **CORPORATE BONDS – 24.2%** | **CORPORATE BONDS – 24.2%** |  |
| **Communication services – 1.9%** |  |  |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 11/15/2032 | &nbsp;&nbsp;339000 | &nbsp;&nbsp;&nbsp;&nbsp;340150 |
| &nbsp;&nbsp;&nbsp;4.700%, 11/15/2035 | &nbsp;&nbsp;792000 | &nbsp;&nbsp;&nbsp;&nbsp;792194 |
| &nbsp;&nbsp;&nbsp;5.250%, 05/15/2055 | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;357254 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2065 | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;350800 |
| &nbsp;&nbsp;&nbsp;5.450%, 11/15/2055 | &nbsp;&nbsp;294000 | &nbsp;&nbsp;&nbsp;&nbsp;288404 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2041 | &nbsp;&nbsp;248000 | &nbsp;&nbsp;&nbsp;&nbsp;195076 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/15/2053 | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;256982 |
| &nbsp;&nbsp;&nbsp;3.550%, 09/15/2055 | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;255607 |
| &nbsp;&nbsp;&nbsp;3.650%, 09/15/2059 | &nbsp;&nbsp;243000 | &nbsp;&nbsp;&nbsp;&nbsp;160249 |
| &nbsp;&nbsp;&nbsp;3.800%, 12/01/2057 | &nbsp;&nbsp;338000 | &nbsp;&nbsp;&nbsp;&nbsp;232491 |
| &nbsp;&nbsp;&nbsp;4.900%, 11/01/2035 | &nbsp;&nbsp;459000 | &nbsp;&nbsp;&nbsp;&nbsp;453336 |
| &nbsp;&nbsp;&nbsp;5.550%, 11/01/2045 | &nbsp;&nbsp;367000 | &nbsp;&nbsp;&nbsp;&nbsp;353431 |
| &nbsp;&nbsp;&nbsp;5.700%, 11/01/2054 | &nbsp;&nbsp;367000 | &nbsp;&nbsp;&nbsp;&nbsp;352014 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2041 | &nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94601 |
| &nbsp;&nbsp;&nbsp;3.500%, 03/01/2042 | &nbsp;&nbsp;651000 | &nbsp;&nbsp;&nbsp;&nbsp;451625 |
| &nbsp;&nbsp;&nbsp;3.900%, 06/01/2052 | &nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;121985 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2053 | &nbsp;&nbsp;319000 | &nbsp;&nbsp;&nbsp;&nbsp;252280 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/01/2063 | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;107162 |
| &nbsp;&nbsp;&nbsp;5.850%, 12/01/2035 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;493799 |
| &nbsp;&nbsp;&nbsp;6.700%, 12/01/2055 | &nbsp;&nbsp;486000 | &nbsp;&nbsp;&nbsp;&nbsp;465971 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.987%, 11/01/2063 | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;156860 |
| &nbsp;&nbsp;&nbsp;4.049%, 11/01/2052 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;182866 |
| &nbsp;&nbsp;&nbsp;5.350%, 05/15/2053 | &nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp;101504 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 11/15/2030 | &nbsp;&nbsp;976000 | &nbsp;&nbsp;&nbsp;&nbsp;978062 |
| &nbsp;&nbsp;&nbsp;4.600%, 11/15/2032 | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;685467 |
| &nbsp;&nbsp;&nbsp;4.875%, 11/15/2035 | &nbsp;&nbsp;907000 | &nbsp;&nbsp;&nbsp;&nbsp;905785 |
| &nbsp;&nbsp;&nbsp;5.400%, 08/15/2054 | &nbsp;&nbsp;471000 | &nbsp;&nbsp;&nbsp;&nbsp;438179 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/15/2045 | &nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;220421 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/15/2064 | &nbsp;&nbsp;719000 | &nbsp;&nbsp;&nbsp;&nbsp;666941 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/15/2055 | &nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;217868 |
| &nbsp;&nbsp;&nbsp;5.750%, 11/15/2065 | &nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;216445 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.987%, 10/30/2056 | &nbsp;&nbsp;389000 | &nbsp;&nbsp;&nbsp;&nbsp;231430 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2033 | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;455643 |
| &nbsp;&nbsp;&nbsp;5.000%, 01/15/2036 | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;452129 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/02/2035 | 1208000 | &nbsp;&nbsp;&nbsp;1227797 |
| &nbsp;&nbsp;&nbsp;5.750%, 11/30/2045 | &nbsp;&nbsp;308000 | &nbsp;&nbsp;&nbsp;&nbsp;305800 |
| &nbsp;&nbsp;&nbsp;5.875%, 11/30/2055 | &nbsp;&nbsp;608000 | &nbsp;&nbsp;&nbsp;&nbsp;600705 |
| &nbsp;&nbsp;&nbsp;6.000%, 11/30/2065 | &nbsp;&nbsp;608000 | &nbsp;&nbsp;&nbsp;&nbsp;600067 |
|  |  | 15019380 |
| **Consumer discretionary – 1.2%** |  |  |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.900%, 11/20/2028 | &nbsp;&nbsp;531000 | &nbsp;&nbsp;&nbsp;&nbsp;532625 |
| &nbsp;&nbsp;&nbsp;4.100%, 11/20/2030 | &nbsp;&nbsp;531000 | &nbsp;&nbsp;&nbsp;&nbsp;531579 |
| &nbsp;&nbsp;&nbsp;4.350%, 03/20/2033 | &nbsp;&nbsp;664000 | &nbsp;&nbsp;&nbsp;&nbsp;661827 |
| &nbsp;&nbsp;&nbsp;4.650%, 11/20/2035 | &nbsp;&nbsp;912000 | &nbsp;&nbsp;&nbsp;&nbsp;908312 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 19 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Amazon.com, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, 11/20/2055 | $&nbsp;&nbsp;385000 | $&nbsp;&nbsp;&nbsp;&nbsp;375769 |
| &nbsp;&nbsp;&nbsp;5.550%, 11/20/2065 | &nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;373449 |
| Dick's Sporting Goods, Inc.<br> 4.100%, 01/15/2052 | &nbsp;&nbsp;501000 | &nbsp;&nbsp;&nbsp;&nbsp;366060 |
| Ford Motor Credit Company LLC<br> 2.900%, 02/10/2029 | 1274000 | &nbsp;&nbsp;&nbsp;1197240 |
| General Motors Financial Company, Inc.<br> 2.700%, 06/10/2031 | &nbsp;&nbsp;985000 | &nbsp;&nbsp;&nbsp;&nbsp;891927 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/18/2030 (C) | &nbsp;&nbsp;344000 | &nbsp;&nbsp;&nbsp;&nbsp;344031 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/27/2030 (C) | &nbsp;&nbsp;383000 | &nbsp;&nbsp;&nbsp;&nbsp;392360 |
| Lowe's Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2051 | &nbsp;&nbsp;313000 | &nbsp;&nbsp;&nbsp;&nbsp;217237 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/15/2031 | &nbsp;&nbsp;618000 | &nbsp;&nbsp;&nbsp;&nbsp;615413 |
| &nbsp;&nbsp;&nbsp;4.250%, 04/01/2052 | &nbsp;&nbsp;577000 | &nbsp;&nbsp;&nbsp;&nbsp;454597 |
| &nbsp;&nbsp;&nbsp;4.850%, 10/15/2035 | &nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;570309 |
| McDonald's Corp.<br> 6.300%, 03/01/2038 | &nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;437004 |
| MercadoLibre, Inc.<br> 4.900%, 01/15/2033 | &nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;533658 |
| The Home Depot, Inc.<br> 3.625%, 04/15/2052 | &nbsp;&nbsp;252000 | &nbsp;&nbsp;&nbsp;&nbsp;183924 |
|  |  | &nbsp;&nbsp;&nbsp;9587321 |
| **Consumer staples – 1.3%** |  |  |
| Altria Group, Inc.<br> 3.875%, 09/16/2046 | &nbsp;&nbsp;211000 | &nbsp;&nbsp;&nbsp;&nbsp;158578 |
| Anheuser-Busch Companies LLC<br> 4.700%, 02/01/2036 | 1359000 | &nbsp;&nbsp;&nbsp;1345199 |
| Anheuser-Busch InBev Worldwide, Inc.<br> 5.450%, 01/23/2039 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;273307 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.540%, 08/15/2047 | &nbsp;&nbsp;548000 | &nbsp;&nbsp;&nbsp;&nbsp;454581 |
| &nbsp;&nbsp;&nbsp;6.250%, 08/15/2055 | &nbsp;&nbsp;388000 | &nbsp;&nbsp;&nbsp;&nbsp;400100 |
| &nbsp;&nbsp;&nbsp;7.081%, 08/02/2053 | &nbsp;&nbsp;143000 | &nbsp;&nbsp;&nbsp;&nbsp;162128 |
| Bunge, Ltd. Finance Corp.<br> 5.150%, 08/04/2035 | &nbsp;&nbsp;683000 | &nbsp;&nbsp;&nbsp;&nbsp;693793 |
| Imperial Brands Finance PLC<br> 5.625%, 07/01/2035 (C) | &nbsp;&nbsp;526000 | &nbsp;&nbsp;&nbsp;&nbsp;539970 |
| JBS USA Lux SA |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 05/15/2032 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;457803 |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 | &nbsp;&nbsp;687000 | &nbsp;&nbsp;&nbsp;&nbsp;642876 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;177601 |
| &nbsp;&nbsp;&nbsp;6.375%, 04/15/2066 (C) | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;135412 |
| &nbsp;&nbsp;&nbsp;6.500%, 12/01/2052 | &nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;367011 |
| &nbsp;&nbsp;&nbsp;7.250%, 11/15/2053 | &nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;607847 |
| PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.100%, 01/15/2029 | &nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;668644 |
| &nbsp;&nbsp;&nbsp;4.300%, 07/23/2030 | &nbsp;&nbsp;368000 | &nbsp;&nbsp;&nbsp;&nbsp;371791 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 04/28/2028 | 1147000 | &nbsp;&nbsp;&nbsp;1152096 |
| &nbsp;&nbsp;&nbsp;4.375%, 04/30/2030 | &nbsp;&nbsp;971000 | &nbsp;&nbsp;&nbsp;&nbsp;976986 |
| &nbsp;&nbsp;&nbsp;4.875%, 04/30/2035 | 1029000 | &nbsp;&nbsp;&nbsp;1032334 |
|  |  | 10618057 |
| **Energy – 1.1%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 10/30/2035 (C) | &nbsp;&nbsp;924000 | &nbsp;&nbsp;&nbsp;&nbsp;902693 |
| &nbsp;&nbsp;&nbsp;5.800%, 10/01/2054 (C) | &nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;142743 |
| Chevron USA, Inc.<br> 4.300%, 10/15/2030 | &nbsp;&nbsp;473000 | &nbsp;&nbsp;&nbsp;&nbsp;477570 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 07/01/2029 | &nbsp;&nbsp;659000 | &nbsp;&nbsp;&nbsp;&nbsp;678161 |
| &nbsp;&nbsp;&nbsp;5.300%, 04/15/2047 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;234267 |
| &nbsp;&nbsp;&nbsp;5.700%, 04/01/2035 | &nbsp;&nbsp;771000 | &nbsp;&nbsp;&nbsp;&nbsp;798083 |
| &nbsp;&nbsp;&nbsp;5.950%, 05/15/2054 | 1061000 | &nbsp;&nbsp;&nbsp;1005458 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Energy Transfer LP (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 02/01/2029 (C) | $478000 | $&nbsp;&nbsp;&nbsp;&nbsp;483206 |
| &nbsp;&nbsp;&nbsp;6.050%, 09/01/2054 | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;259663 |
| EOG Resources, Inc.<br> 4.400%, 01/15/2031 | 769000 | &nbsp;&nbsp;&nbsp;&nbsp;771992 |
| Equinor ASA |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/03/2030 | 227000 | &nbsp;&nbsp;&nbsp;&nbsp;230285 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/14/2035 | 522000 | &nbsp;&nbsp;&nbsp;&nbsp;519304 |
| &nbsp;&nbsp;&nbsp;5.125%, 06/03/2035 | 227000 | &nbsp;&nbsp;&nbsp;&nbsp;233121 |
| Galaxy Pipeline Assets Bidco, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;2.160%, 03/31/2034 (C)(D) | 513205 | &nbsp;&nbsp;&nbsp;&nbsp;464493 |
| &nbsp;&nbsp;&nbsp;2.625%, 03/31/2036 (C) | 459000 | &nbsp;&nbsp;&nbsp;&nbsp;404515 |
| Kinder Morgan, Inc.<br> 5.150%, 06/01/2030 | 128000 | &nbsp;&nbsp;&nbsp;&nbsp;132352 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 11/01/2034 | 136000 | &nbsp;&nbsp;&nbsp;&nbsp;134786 |
| &nbsp;&nbsp;&nbsp;5.700%, 11/01/2054 | 565000 | &nbsp;&nbsp;&nbsp;&nbsp;526544 |
| &nbsp;&nbsp;&nbsp;5.850%, 11/01/2064 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;98513 |
| &nbsp;&nbsp;&nbsp;6.250%, 10/15/2055 | 341000 | &nbsp;&nbsp;&nbsp;&nbsp;341720 |
|  |  | 8839469 |
| **Financials – 7.4%** |  |  |
| American Express Company |  |  |
| &nbsp;&nbsp;&nbsp;4.918%, (4.918% to 7-20-32, then Overnight SOFR + 1.220%), 07/20/2033 | 779000 | &nbsp;&nbsp;&nbsp;&nbsp;792786 |
| &nbsp;&nbsp;&nbsp;5.442%, (5.442% to 1-30-35, then SOFR Compounded Index + 1.320%), 01/30/2036 | 467000 | &nbsp;&nbsp;&nbsp;&nbsp;485059 |
| Ares Management Corp.<br> 5.600%, 10/11/2054 | 394000 | &nbsp;&nbsp;&nbsp;&nbsp;373195 |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;4.551%, 11/06/2030 | 800000 | &nbsp;&nbsp;&nbsp;&nbsp;800848 |
| &nbsp;&nbsp;&nbsp;5.127%, 11/06/2035 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;399861 |
| Bank of America Corp.<br> 1.734%, (1.734% to 7-22-26, then Overnight SOFR + 0.960%), 07/22/2027 | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;306045 |
| Blackstone Reg Finance Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 11/03/2030 | 481000 | &nbsp;&nbsp;&nbsp;&nbsp;480729 |
| &nbsp;&nbsp;&nbsp;4.950%, 02/15/2036 | 284000 | &nbsp;&nbsp;&nbsp;&nbsp;281924 |
| Brookfield Asset Management, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.653%, 11/15/2030 | 683000 | &nbsp;&nbsp;&nbsp;&nbsp;687895 |
| &nbsp;&nbsp;&nbsp;5.298%, 01/15/2036 | 456000 | &nbsp;&nbsp;&nbsp;&nbsp;455451 |
| &nbsp;&nbsp;&nbsp;6.077%, 09/15/2055 | 268000 | &nbsp;&nbsp;&nbsp;&nbsp;273950 |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;4.634%, (4.634% to 7-3-28, then Overnight SOFR + 1.140%), 07/03/2029 (C) | 862000 | &nbsp;&nbsp;&nbsp;&nbsp;870572 |
| &nbsp;&nbsp;&nbsp;4.885%, (4.885% to 7-3-30, then Overnight SOFR + 1.360%), 07/03/2031 (C) | 862000 | &nbsp;&nbsp;&nbsp;&nbsp;873894 |
| &nbsp;&nbsp;&nbsp;5.581%, (5.581% to 7-3-35, then Overnight SOFR + 1.790%), 07/03/2036 (C) | 519000 | &nbsp;&nbsp;&nbsp;&nbsp;533246 |
| Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;4.243%, (4.243% to 9-8-27, then SOFR Compounded Index + 0.600%), 09/08/2028 | 805000 | &nbsp;&nbsp;&nbsp;&nbsp;808077 |
| &nbsp;&nbsp;&nbsp;4.580%, (4.580% to 9-8-30, then SOFR Compounded Index + 1.170%), 09/08/2031 | 862000 | &nbsp;&nbsp;&nbsp;&nbsp;868570 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.197%, (5.197% to 9-11-35, then Overnight SOFR + 1.630%), 09/11/2036 | 674000 | &nbsp;&nbsp;&nbsp;&nbsp;670600 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 20 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Capital One Financial Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.051%, (6.051% to 2-1-34, then Overnight SOFR + 2.260%), 02/01/2035 | $1011000 | $1076199 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.503%, (4.503% to 9-11-30, then Overnight SOFR + 1.171%), 09/11/2031 | &nbsp;&nbsp;986000 | &nbsp;&nbsp;&nbsp;&nbsp;989051 |
| &nbsp;&nbsp;&nbsp;4.542%, (4.542% to 9-19-29, then Overnight SOFR + 1.338%), 09/19/2030 | &nbsp;&nbsp;426000 | &nbsp;&nbsp;&nbsp;&nbsp;429388 |
| &nbsp;&nbsp;&nbsp;4.786%, (4.786% to 3-4-28, then Overnight SOFR + 0.870%), 03/04/2029 | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;933182 |
| &nbsp;&nbsp;&nbsp;4.952%, (4.952% to 5-7-30, then Overnight SOFR + 1.463%), 05/07/2031 | &nbsp;&nbsp;681000 | &nbsp;&nbsp;&nbsp;&nbsp;695563 |
| &nbsp;&nbsp;&nbsp;5.174%, (5.174% to 9-11-35, then Overnight SOFR + 1.488%), 09/11/2036 | &nbsp;&nbsp;641000 | &nbsp;&nbsp;&nbsp;&nbsp;646992 |
| &nbsp;&nbsp;&nbsp;5.333%, (5.333% to 3-27-35, then Overnight SOFR + 1.465%), 03/27/2036 | &nbsp;&nbsp;927000 | &nbsp;&nbsp;&nbsp;&nbsp;948274 |
| &nbsp;&nbsp;&nbsp;5.612%, (5.612% to 3-4-55, then Overnight SOFR + 1.746%), 03/04/2056 | &nbsp;&nbsp;631000 | &nbsp;&nbsp;&nbsp;&nbsp;628314 |
| &nbsp;&nbsp;&nbsp;5.827%, (5.827% to 2-13-34, then Overnight SOFR + 2.056%), 02/13/2035 | &nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;298253 |
| &nbsp;&nbsp;&nbsp;6.020%, (6.020% to 1-24-35, then Overnight SOFR + 1.830%), 01/24/2036 | &nbsp;&nbsp;788000 | &nbsp;&nbsp;&nbsp;&nbsp;825344 |
| Credit Agricole SA<br> 4.818%, (4.818% to 9-25-32, then Overnight SOFR + 1.360%), 09/25/2033 (C) | &nbsp;&nbsp;667000 | &nbsp;&nbsp;&nbsp;&nbsp;666128 |
| FS KKR Capital Corp.<br> 6.125%, 01/15/2030 (D) | &nbsp;&nbsp;517000 | &nbsp;&nbsp;&nbsp;&nbsp;508895 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.619%, (4.619% to 11-6-30, then Overnight SOFR + 1.190%), 11/06/2031 | &nbsp;&nbsp;743000 | &nbsp;&nbsp;&nbsp;&nbsp;745291 |
| &nbsp;&nbsp;&nbsp;5.133%, (5.133% to 11-6-35, then Overnight SOFR + 1.430%), 11/06/2036 | &nbsp;&nbsp;419000 | &nbsp;&nbsp;&nbsp;&nbsp;420146 |
| JPMorgan Chase & Co.<br> 4.810%, (4.810% to 10-22-35, then Overnight SOFR + 1.190%), 10/22/2036 | &nbsp;&nbsp;406000 | &nbsp;&nbsp;&nbsp;&nbsp;403143 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.425%, (4.425% to 11-4-30, then 1 Year CMT + 0.820%), 11/04/2031 | &nbsp;&nbsp;742000 | &nbsp;&nbsp;&nbsp;&nbsp;739685 |
| &nbsp;&nbsp;&nbsp;4.943%, (4.943% to 11-4-35, then 1 Year CMT + 0.970%), 11/04/2036 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;593622 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.527%, (4.527% to 9-12-30, then 1 Year CMT + 0.800%), 09/12/2031 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;754039 |
| &nbsp;&nbsp;&nbsp;5.188%, (5.188% to 9-12-35, then 5 Year CMT + 0.930%), 09/12/2036 | &nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;767087 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;4.133%, (4.133% to 10-18-28, then Overnight SOFR + 0.913%), 10/18/2029 | 1455000 | 1454531 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Morgan Stanley (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.892%, (4.892% to 10-22-35, then Overnight SOFR + 1.314%), 10/22/2036 | $&nbsp;&nbsp;790000 | $&nbsp;&nbsp;&nbsp;&nbsp;783007 |
| &nbsp;&nbsp;&nbsp;4.994%, (4.994% to 4-12-28, then Overnight SOFR + 1.380%), 04/12/2029 | 1335000 | 1361442 |
| &nbsp;&nbsp;&nbsp;5.042%, (5.042% to 7-19-29, then Overnight SOFR + 1.215%), 07/19/2030 | &nbsp;&nbsp;548000 | &nbsp;&nbsp;&nbsp;&nbsp;561857 |
| &nbsp;&nbsp;&nbsp;5.449%, (5.449% to 7-20-28, then Overnight SOFR + 1.630%), 07/20/2029 | &nbsp;&nbsp;512000 | &nbsp;&nbsp;&nbsp;&nbsp;528358 |
| &nbsp;&nbsp;&nbsp;5.831%, (5.831% to 4-19-34, then Overnight SOFR + 1.580%), 04/19/2035 | 1195000 | 1269875 |
| Morgan Stanley Private Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;4.204%, (4.204% to 11-17-27, then Overnight SOFR + 0.780%), 11/17/2028 | 1625000 | 1630077 |
| &nbsp;&nbsp;&nbsp;4.465%, (4.465% to 11-19-30, then Overnight SOFR + 1.020%), 11/19/2031 | 3078000 | 3086058 |
| &nbsp;&nbsp;&nbsp;4.466%, (4.466% to 7-6-27, then Overnight SOFR + 0.770%), 07/06/2028 | &nbsp;&nbsp;807000 | &nbsp;&nbsp;&nbsp;&nbsp;812436 |
| &nbsp;&nbsp;&nbsp;4.734%, (4.734% to 7-18-30, then Overnight SOFR + 1.080%), 07/18/2031 | 2458000 | 2491669 |
| MSD Investment Corp.<br> 6.125%, 02/05/2031 (C) | &nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;535033 |
| Oaktree Specialty Lending Corp.<br> 6.340%, 02/27/2030 (D) | &nbsp;&nbsp;447000 | &nbsp;&nbsp;&nbsp;&nbsp;448269 |
| PNC Bank NA<br> 4.429%, (4.429% to 7-21-27, then Overnight SOFR + 0.727%), 07/21/2028 | 1066000 | 1073130 |
| Protective Life Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 01/15/2031 (C) | &nbsp;&nbsp;663000 | &nbsp;&nbsp;&nbsp;&nbsp;665089 |
| &nbsp;&nbsp;&nbsp;5.350%, 12/15/2035 (C) | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;414562 |
| Royal Bank of Canada<br> 4.696%, (4.696% to 8-6-30, then Overnight SOFR + 1.060%), 08/06/2031 | &nbsp;&nbsp;912000 | &nbsp;&nbsp;&nbsp;&nbsp;923725 |
| State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.729%, 02/28/2030 | 1052000 | 1076546 |
| &nbsp;&nbsp;&nbsp;4.784%, (4.784% to 10-23-35, then Overnight SOFR + 1.215%), 10/23/2036 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;262626 |
| Sumitomo Mitsui Trust Group, Inc.<br> 5.416%, (5.416% to 9-11-35, then Overnight SOFR + 1.650%), 09/11/2036 (C) | &nbsp;&nbsp;528000 | &nbsp;&nbsp;&nbsp;&nbsp;529953 |
| The Bank of New York Mellon Corp.<br> 4.942%, (4.942% to 2-11-30, then Overnight SOFR + 0.887%), 02/11/2031 | &nbsp;&nbsp;743000 | &nbsp;&nbsp;&nbsp;&nbsp;764022 |
| The Charles Schwab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.343%, (4.343% to 11-14-30, then Overnight SOFR + 0.940%), 11/14/2031 | 1228000 | 1226166 |
| &nbsp;&nbsp;&nbsp;4.914%, (4.914% to 11-14-35, then Overnight SOFR + 1.230%), 11/14/2036 | 1071000 | 1063808 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 21 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.153%, (4.153% to 10-21-28, then Overnight SOFR + 0.900%), 10/21/2029 | $1698000 | $&nbsp;&nbsp;&nbsp;1697620 |
| &nbsp;&nbsp;&nbsp;4.369%, (4.369% to 10-21-30, then Overnight SOFR + 1.060%), 10/21/2031 | 1142000 | &nbsp;&nbsp;&nbsp;1139278 |
| &nbsp;&nbsp;&nbsp;4.692%, (4.692% to 10-23-29, then Overnight SOFR + 1.135%), 10/23/2030 | &nbsp;&nbsp;787000 | &nbsp;&nbsp;&nbsp;&nbsp;797738 |
| &nbsp;&nbsp;&nbsp;4.939%, (4.939% to 10-21-35, then Overnight SOFR + 1.330%), 10/21/2036 | &nbsp;&nbsp;779000 | &nbsp;&nbsp;&nbsp;&nbsp;773330 |
| &nbsp;&nbsp;&nbsp;5.049%, (5.049% to 7-23-29, then Overnight SOFR + 1.210%), 07/23/2030 | &nbsp;&nbsp;406000 | &nbsp;&nbsp;&nbsp;&nbsp;415993 |
| &nbsp;&nbsp;&nbsp;5.207%, (5.207% to 1-28-30, then Overnight SOFR + 1.078%), 01/28/2031 | 1039000 | &nbsp;&nbsp;&nbsp;1072919 |
| &nbsp;&nbsp;&nbsp;5.218%, (5.218% to 4-23-30, then Overnight SOFR + 1.580%), 04/23/2031 | 1329000 | &nbsp;&nbsp;&nbsp;1372654 |
| &nbsp;&nbsp;&nbsp;5.330%, (5.330% to 7-23-34, then Overnight SOFR + 1.550%), 07/23/2035 | &nbsp;&nbsp;808000 | &nbsp;&nbsp;&nbsp;&nbsp;830186 |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.812%, (4.812% to 10-21-31, then Overnight SOFR + 1.259%), 10/21/2032 | &nbsp;&nbsp;603000 | &nbsp;&nbsp;&nbsp;&nbsp;613658 |
| &nbsp;&nbsp;&nbsp;5.373%, (5.373% to 7-21-35, then Overnight SOFR + 1.417%), 07/21/2036 | &nbsp;&nbsp;342000 | &nbsp;&nbsp;&nbsp;&nbsp;351742 |
| The Toronto-Dominion Bank<br> 4.928%, 10/15/2035 | &nbsp;&nbsp;687000 | &nbsp;&nbsp;&nbsp;&nbsp;686493 |
| Truist Bank<br> 4.420%, (4.420% to 7-24-27, then Overnight SOFR + 0.770%), 07/24/2028 | 1069000 | &nbsp;&nbsp;&nbsp;1075123 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;4.151%, (4.151% to 12-23-28, then Overnight SOFR + 0.840%), 12/23/2029 (C) | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;518466 |
| &nbsp;&nbsp;&nbsp;4.398%, (4.398% to 9-23-30, then Overnight SOFR + 1.060%), 09/23/2031 (C) | &nbsp;&nbsp;627000 | &nbsp;&nbsp;&nbsp;&nbsp;623950 |
| &nbsp;&nbsp;&nbsp;5.010%, (5.010% to 3-23-36, then Overnight SOFR + 1.340%), 03/23/2037 (C) | &nbsp;&nbsp;757000 | &nbsp;&nbsp;&nbsp;&nbsp;750323 |
| &nbsp;&nbsp;&nbsp;5.528%, (5.528% to 5-6-46, then Overnight SOFR + 1.490%), 05/06/2047 (C) | &nbsp;&nbsp;594000 | &nbsp;&nbsp;&nbsp;&nbsp;586157 |
|  |  | 59299167 |
| **Health care – 2.6%** |  |  |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 11/21/2029 | &nbsp;&nbsp;964000 | &nbsp;&nbsp;&nbsp;&nbsp;934864 |
| &nbsp;&nbsp;&nbsp;4.050%, 11/21/2039 | &nbsp;&nbsp;274000 | &nbsp;&nbsp;&nbsp;&nbsp;244590 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/21/2049 | &nbsp;&nbsp;951000 | &nbsp;&nbsp;&nbsp;&nbsp;783201 |
| &nbsp;&nbsp;&nbsp;4.550%, 03/15/2035 | &nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp;111246 |
| &nbsp;&nbsp;&nbsp;4.800%, 03/15/2027 | &nbsp;&nbsp;654000 | &nbsp;&nbsp;&nbsp;&nbsp;660850 |
| &nbsp;&nbsp;&nbsp;4.875%, 03/15/2030 | &nbsp;&nbsp;526000 | &nbsp;&nbsp;&nbsp;&nbsp;541952 |
| &nbsp;&nbsp;&nbsp;4.950%, 03/15/2031 | &nbsp;&nbsp;392000 | &nbsp;&nbsp;&nbsp;&nbsp;405325 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2034 | &nbsp;&nbsp;512000 | &nbsp;&nbsp;&nbsp;&nbsp;526176 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/15/2035 | &nbsp;&nbsp;314000 | &nbsp;&nbsp;&nbsp;&nbsp;324740 |
| Alcon Finance Corp.<br> 5.375%, 12/06/2032 (C) | &nbsp;&nbsp;776000 | &nbsp;&nbsp;&nbsp;&nbsp;810637 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, 03/02/2043 | $&nbsp;&nbsp;377000 | $&nbsp;&nbsp;&nbsp;&nbsp;379093 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/02/2053 | &nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;115545 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 03/25/2028 | &nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;540785 |
| &nbsp;&nbsp;&nbsp;4.780%, 03/25/2038 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;396443 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/25/2048 | 1140000 | &nbsp;&nbsp;&nbsp;1004967 |
| &nbsp;&nbsp;&nbsp;5.550%, 06/01/2031 | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;543168 |
| &nbsp;&nbsp;&nbsp;5.700%, 06/01/2034 | &nbsp;&nbsp;532000 | &nbsp;&nbsp;&nbsp;&nbsp;557492 |
| Eli Lilly & Company |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 08/14/2029 | &nbsp;&nbsp;822000 | &nbsp;&nbsp;&nbsp;&nbsp;829967 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/15/2031 | &nbsp;&nbsp;794000 | &nbsp;&nbsp;&nbsp;&nbsp;799887 |
| &nbsp;&nbsp;&nbsp;4.600%, 08/14/2034 | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;466348 |
| &nbsp;&nbsp;&nbsp;4.700%, 02/09/2034 | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;258517 |
| &nbsp;&nbsp;&nbsp;4.900%, 02/12/2032 | &nbsp;&nbsp;199000 | &nbsp;&nbsp;&nbsp;&nbsp;205701 |
| &nbsp;&nbsp;&nbsp;5.050%, 08/14/2054 | &nbsp;&nbsp;&nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59010 |
| &nbsp;&nbsp;&nbsp;5.100%, 02/12/2035 | &nbsp;&nbsp;147000 | &nbsp;&nbsp;&nbsp;&nbsp;151943 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/12/2055 | &nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;327279 |
| &nbsp;&nbsp;&nbsp;5.550%, 10/15/2055 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;166090 |
| &nbsp;&nbsp;&nbsp;5.600%, 02/12/2065 | &nbsp;&nbsp;361000 | &nbsp;&nbsp;&nbsp;&nbsp;361989 |
| Gilead Sciences, Inc.<br> 4.000%, 09/01/2036 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;245637 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 06/15/2049 | &nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;303668 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/01/2032 | &nbsp;&nbsp;896000 | &nbsp;&nbsp;&nbsp;&nbsp;933693 |
| &nbsp;&nbsp;&nbsp;5.900%, 06/01/2053 | &nbsp;&nbsp;196000 | &nbsp;&nbsp;&nbsp;&nbsp;191896 |
| &nbsp;&nbsp;&nbsp;6.200%, 03/01/2055 | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;271091 |
| Merck & Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.350%, 06/24/2040 | &nbsp;&nbsp;219000 | &nbsp;&nbsp;&nbsp;&nbsp;157771 |
| &nbsp;&nbsp;&nbsp;4.450%, 12/04/2032 (D) | &nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;467651 |
| &nbsp;&nbsp;&nbsp;4.750%, 12/04/2035 | &nbsp;&nbsp;351000 | &nbsp;&nbsp;&nbsp;&nbsp;349688 |
| &nbsp;&nbsp;&nbsp;5.550%, 12/04/2055 | &nbsp;&nbsp;222000 | &nbsp;&nbsp;&nbsp;&nbsp;219033 |
| Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 11/15/2027 | &nbsp;&nbsp;531000 | &nbsp;&nbsp;&nbsp;&nbsp;532741 |
| &nbsp;&nbsp;&nbsp;4.200%, 11/15/2030 | &nbsp;&nbsp;756000 | &nbsp;&nbsp;&nbsp;&nbsp;759502 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/15/2032 | &nbsp;&nbsp;614000 | &nbsp;&nbsp;&nbsp;&nbsp;615414 |
| &nbsp;&nbsp;&nbsp;4.875%, 11/15/2035 | &nbsp;&nbsp;318000 | &nbsp;&nbsp;&nbsp;&nbsp;318951 |
| Roche Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.075%, 12/02/2030 (C) | &nbsp;&nbsp;503000 | &nbsp;&nbsp;&nbsp;&nbsp;501722 |
| &nbsp;&nbsp;&nbsp;4.374%, 12/02/2032 (C) | &nbsp;&nbsp;691000 | &nbsp;&nbsp;&nbsp;&nbsp;688334 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.050%, 05/15/2041 | &nbsp;&nbsp;121000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91742 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/15/2044 | &nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp;313653 |
| &nbsp;&nbsp;&nbsp;5.625%, 07/15/2054 | &nbsp;&nbsp;711000 | &nbsp;&nbsp;&nbsp;&nbsp;697361 |
| &nbsp;&nbsp;&nbsp;5.875%, 02/15/2053 | &nbsp;&nbsp;477000 | &nbsp;&nbsp;&nbsp;&nbsp;480980 |
|  |  | 20648333 |
| **Industrials – 2.7%** |  |  |
| Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 08/16/2029 | &nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;297019 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/14/2027 | &nbsp;&nbsp;786000 | &nbsp;&nbsp;&nbsp;&nbsp;799034 |
| Crowley Conro LLC<br> 4.181%, 08/15/2043 | &nbsp;&nbsp;407885 | &nbsp;&nbsp;&nbsp;&nbsp;374468 |
| Deere & Company<br> 5.700%, 01/19/2055 | &nbsp;&nbsp;546000 | &nbsp;&nbsp;&nbsp;&nbsp;564319 |
| Delta Air Lines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 10/20/2028 (C) | &nbsp;&nbsp;851000 | &nbsp;&nbsp;&nbsp;&nbsp;856168 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/10/2028 | 1051000 | &nbsp;&nbsp;&nbsp;1069900 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/10/2030 | 1182000 | &nbsp;&nbsp;&nbsp;1214584 |
| Eaton Capital ULC<br> 4.450%, 05/09/2030 | &nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;352655 |
| Embraer Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 01/09/2038 | &nbsp;&nbsp;403000 | &nbsp;&nbsp;&nbsp;&nbsp;398083 |
| &nbsp;&nbsp;&nbsp;5.980%, 02/11/2035 | &nbsp;&nbsp;418000 | &nbsp;&nbsp;&nbsp;&nbsp;444188 |
| General Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 07/29/2030 | &nbsp;&nbsp;798000 | &nbsp;&nbsp;&nbsp;&nbsp;804781 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 22 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| General Electric Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 01/29/2036 | $&nbsp;&nbsp;726000 | $&nbsp;&nbsp;&nbsp;&nbsp;737087 |
| Howmet Aerospace, Inc.<br> 4.850%, 10/15/2031 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;359122 |
| John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.150%, 09/15/2027 | &nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;518982 |
| &nbsp;&nbsp;&nbsp;4.500%, 01/08/2027 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;654920 |
| &nbsp;&nbsp;&nbsp;4.650%, 01/07/2028 | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;465878 |
| &nbsp;&nbsp;&nbsp;4.850%, 06/11/2029 | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87343 |
| &nbsp;&nbsp;&nbsp;5.150%, 09/08/2026 | &nbsp;&nbsp;481000 | &nbsp;&nbsp;&nbsp;&nbsp;485306 |
| Norfolk Southern Corp.<br> 5.100%, 05/01/2035 | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;465745 |
| Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.650%, 07/15/2030 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;381663 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/2035 | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;360263 |
| Novartis Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.100%, 11/05/2030 | &nbsp;&nbsp;609000 | &nbsp;&nbsp;&nbsp;&nbsp;608351 |
| &nbsp;&nbsp;&nbsp;4.600%, 11/05/2035 | 1008000 | &nbsp;&nbsp;&nbsp;&nbsp;998682 |
| Siemens Funding BV |  |  |
| &nbsp;&nbsp;&nbsp;4.350%, 05/26/2028 (C) | &nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;865345 |
| &nbsp;&nbsp;&nbsp;4.600%, 05/28/2030 (C) | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;581685 |
| &nbsp;&nbsp;&nbsp;4.900%, 05/28/2032 (C) | &nbsp;&nbsp;688000 | &nbsp;&nbsp;&nbsp;&nbsp;709864 |
| &nbsp;&nbsp;&nbsp;5.200%, 05/28/2035 (C) | &nbsp;&nbsp;688000 | &nbsp;&nbsp;&nbsp;&nbsp;713731 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/28/2055 (C) | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;363807 |
| Southwest Airlines Company<br> 5.250%, 11/15/2035 | &nbsp;&nbsp;793000 | &nbsp;&nbsp;&nbsp;&nbsp;775518 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;5.805%, 05/01/2050 | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;448519 |
| &nbsp;&nbsp;&nbsp;6.858%, 05/01/2054 | &nbsp;&nbsp;273000 | &nbsp;&nbsp;&nbsp;&nbsp;306617 |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.150%, 01/15/2031 | &nbsp;&nbsp;687000 | &nbsp;&nbsp;&nbsp;&nbsp;684459 |
| &nbsp;&nbsp;&nbsp;4.800%, 09/15/2034 | &nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;664807 |
| &nbsp;&nbsp;&nbsp;4.800%, 09/15/2035 | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;455581 |
| &nbsp;&nbsp;&nbsp;5.350%, 09/15/2054 | &nbsp;&nbsp;312000 | &nbsp;&nbsp;&nbsp;&nbsp;297546 |
| Union Pacific Corp.<br> 5.600%, 12/01/2054 | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;204338 |
| Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2030 | &nbsp;&nbsp;454000 | &nbsp;&nbsp;&nbsp;&nbsp;457435 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/15/2036 | &nbsp;&nbsp;507000 | &nbsp;&nbsp;&nbsp;&nbsp;509315 |
|  |  | 21337108 |
| **Information technology – 2.1%** |  |  |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 02/08/2041 | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;135598 |
| &nbsp;&nbsp;&nbsp;2.650%, 05/11/2050 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;162536 |
| &nbsp;&nbsp;&nbsp;3.950%, 08/08/2052 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;392645 |
| &nbsp;&nbsp;&nbsp;4.000%, 05/12/2028 | &nbsp;&nbsp;394000 | &nbsp;&nbsp;&nbsp;&nbsp;397303 |
| &nbsp;&nbsp;&nbsp;4.200%, 05/12/2030 | &nbsp;&nbsp;678000 | &nbsp;&nbsp;&nbsp;&nbsp;685882 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.150%, 02/15/2028 | &nbsp;&nbsp;643000 | &nbsp;&nbsp;&nbsp;&nbsp;645177 |
| &nbsp;&nbsp;&nbsp;4.550%, 02/15/2032 | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;656826 |
| &nbsp;&nbsp;&nbsp;4.600%, 07/15/2030 | &nbsp;&nbsp;858000 | &nbsp;&nbsp;&nbsp;&nbsp;871755 |
| &nbsp;&nbsp;&nbsp;4.800%, 10/15/2034 | &nbsp;&nbsp;917000 | &nbsp;&nbsp;&nbsp;&nbsp;918763 |
| &nbsp;&nbsp;&nbsp;4.900%, 07/15/2032 | &nbsp;&nbsp;536000 | &nbsp;&nbsp;&nbsp;&nbsp;547257 |
| &nbsp;&nbsp;&nbsp;4.926%, 05/15/2037 (C) | &nbsp;&nbsp;369000 | &nbsp;&nbsp;&nbsp;&nbsp;364206 |
| &nbsp;&nbsp;&nbsp;5.050%, 07/12/2029 | &nbsp;&nbsp;943000 | &nbsp;&nbsp;&nbsp;&nbsp;970891 |
| &nbsp;&nbsp;&nbsp;5.150%, 11/15/2031 | &nbsp;&nbsp;874000 | &nbsp;&nbsp;&nbsp;&nbsp;906731 |
| &nbsp;&nbsp;&nbsp;5.200%, 07/15/2035 | &nbsp;&nbsp;279000 | &nbsp;&nbsp;&nbsp;&nbsp;285854 |
| Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 09/10/2027 | &nbsp;&nbsp;222000 | &nbsp;&nbsp;&nbsp;&nbsp;223205 |
| &nbsp;&nbsp;&nbsp;4.300%, 09/10/2029 | 1090000 | &nbsp;&nbsp;&nbsp;1095577 |
| Cisco Systems, Inc.<br> 5.500%, 02/24/2055 | &nbsp;&nbsp;464000 | &nbsp;&nbsp;&nbsp;&nbsp;458765 |
| Flex, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 01/15/2032 | &nbsp;&nbsp;186000 | &nbsp;&nbsp;&nbsp;&nbsp;189594 |
| &nbsp;&nbsp;&nbsp;5.375%, 11/13/2035 | &nbsp;&nbsp;399000 | &nbsp;&nbsp;&nbsp;&nbsp;398062 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 01/25/2031 (C) | $405000 | $&nbsp;&nbsp;&nbsp;&nbsp;418039 |
| &nbsp;&nbsp;&nbsp;5.900%, 01/25/2033 (C) | 369000 | &nbsp;&nbsp;&nbsp;&nbsp;386102 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 08/12/2041 | 222000 | &nbsp;&nbsp;&nbsp;&nbsp;155057 |
| &nbsp;&nbsp;&nbsp;3.250%, 11/15/2049 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83049 |
| &nbsp;&nbsp;&nbsp;5.625%, 02/10/2043 | 148000 | &nbsp;&nbsp;&nbsp;&nbsp;142151 |
| &nbsp;&nbsp;&nbsp;5.900%, 02/10/2063 | 194000 | &nbsp;&nbsp;&nbsp;&nbsp;181410 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2046 | 448000 | &nbsp;&nbsp;&nbsp;&nbsp;310549 |
| &nbsp;&nbsp;&nbsp;4.800%, 09/26/2032 | 419000 | &nbsp;&nbsp;&nbsp;&nbsp;404512 |
| &nbsp;&nbsp;&nbsp;5.200%, 09/26/2035 | 278000 | &nbsp;&nbsp;&nbsp;&nbsp;266346 |
| &nbsp;&nbsp;&nbsp;5.375%, 09/27/2054 | 339000 | &nbsp;&nbsp;&nbsp;&nbsp;274174 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | 282000 | &nbsp;&nbsp;&nbsp;&nbsp;234026 |
| &nbsp;&nbsp;&nbsp;5.875%, 09/26/2045 | 539000 | &nbsp;&nbsp;&nbsp;&nbsp;486784 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/03/2055 | 780000 | &nbsp;&nbsp;&nbsp;&nbsp;687795 |
| Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.650%, 04/01/2028 | 394000 | &nbsp;&nbsp;&nbsp;&nbsp;399310 |
| &nbsp;&nbsp;&nbsp;4.850%, 04/01/2030 | 564000 | &nbsp;&nbsp;&nbsp;&nbsp;576043 |
| &nbsp;&nbsp;&nbsp;5.000%, 04/01/2032 | 451000 | &nbsp;&nbsp;&nbsp;&nbsp;460521 |
| &nbsp;&nbsp;&nbsp;5.150%, 04/01/2035 | 401000 | &nbsp;&nbsp;&nbsp;&nbsp;407555 |
| &nbsp;&nbsp;&nbsp;5.700%, 04/01/2055 | 319000 | &nbsp;&nbsp;&nbsp;&nbsp;316445 |
| Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 03/14/2053 | 309000 | &nbsp;&nbsp;&nbsp;&nbsp;283411 |
| &nbsp;&nbsp;&nbsp;5.050%, 05/18/2063 | 139000 | &nbsp;&nbsp;&nbsp;&nbsp;124251 |
| &nbsp;&nbsp;&nbsp;5.150%, 02/08/2054 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;108371 |
|  |  | 17012528 |
| **Materials – 0.1%** |  |  |
| Eagle Materials, Inc.<br> 5.000%, 03/15/2036 | 681000 | &nbsp;&nbsp;&nbsp;&nbsp;667061 |
| Suzano Netherlands BV<br> 5.500%, 01/15/2036 | 238000 | &nbsp;&nbsp;&nbsp;&nbsp;235948 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;903009 |
| **Real estate – 1.3%** |  |  |
| Agree LP |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/15/2028 | 403000 | &nbsp;&nbsp;&nbsp;&nbsp;383952 |
| &nbsp;&nbsp;&nbsp;2.600%, 06/15/2033 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94874 |
| &nbsp;&nbsp;&nbsp;4.800%, 10/01/2032 | 242000 | &nbsp;&nbsp;&nbsp;&nbsp;243501 |
| &nbsp;&nbsp;&nbsp;5.600%, 06/15/2035 | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;413472 |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/15/2032 | 445000 | &nbsp;&nbsp;&nbsp;&nbsp;420315 |
| &nbsp;&nbsp;&nbsp;4.300%, 04/15/2052 | 199000 | &nbsp;&nbsp;&nbsp;&nbsp;158088 |
| &nbsp;&nbsp;&nbsp;4.950%, 06/15/2030 | 339000 | &nbsp;&nbsp;&nbsp;&nbsp;345784 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/15/2034 | 181000 | &nbsp;&nbsp;&nbsp;&nbsp;186979 |
| Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 08/16/2031 | 426000 | &nbsp;&nbsp;&nbsp;&nbsp;382905 |
| &nbsp;&nbsp;&nbsp;4.850%, 02/15/2033 | 188000 | &nbsp;&nbsp;&nbsp;&nbsp;188398 |
| CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 01/15/2033 | 398000 | &nbsp;&nbsp;&nbsp;&nbsp;399912 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/15/2035 | 343000 | &nbsp;&nbsp;&nbsp;&nbsp;354093 |
| Equinix Europe 2 Financing Corp. LLC<br> 4.600%, 11/15/2030 | 567000 | &nbsp;&nbsp;&nbsp;&nbsp;568709 |
| Essex Portfolio LP<br> 2.550%, 06/15/2031 | 230000 | &nbsp;&nbsp;&nbsp;&nbsp;208651 |
| FIBRA Prologis<br> 5.500%, 11/26/2035 (C) | 414000 | &nbsp;&nbsp;&nbsp;&nbsp;415656 |
| Invitation Homes Operating<br> Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 08/15/2031 | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67256 |
| &nbsp;&nbsp;&nbsp;4.150%, 04/15/2032 | 443000 | &nbsp;&nbsp;&nbsp;&nbsp;429989 |
| &nbsp;&nbsp;&nbsp;4.950%, 01/15/2033 | 451000 | &nbsp;&nbsp;&nbsp;&nbsp;457549 |
| Kimco Realty OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.850%, 03/01/2035 | 354000 | &nbsp;&nbsp;&nbsp;&nbsp;352486 |
| &nbsp;&nbsp;&nbsp;5.300%, 02/01/2036 | 407000 | &nbsp;&nbsp;&nbsp;&nbsp;416762 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 23 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 03/15/2028 | $250000 | $&nbsp;&nbsp;&nbsp;&nbsp;240033 |
| &nbsp;&nbsp;&nbsp;2.850%, 12/15/2032 | 322000 | &nbsp;&nbsp;&nbsp;&nbsp;288826 |
| &nbsp;&nbsp;&nbsp;3.400%, 01/15/2030 | 267000 | &nbsp;&nbsp;&nbsp;&nbsp;259481 |
| &nbsp;&nbsp;&nbsp;3.950%, 02/01/2029 | 405000 | &nbsp;&nbsp;&nbsp;&nbsp;403600 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2033 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;341296 |
| Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 09/15/2029 | 609000 | &nbsp;&nbsp;&nbsp;&nbsp;584032 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/15/2032 | 384000 | &nbsp;&nbsp;&nbsp;&nbsp;393156 |
| &nbsp;&nbsp;&nbsp;5.250%, 01/15/2034 | 522000 | &nbsp;&nbsp;&nbsp;&nbsp;536668 |
| Store Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 12/01/2031 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;136888 |
| &nbsp;&nbsp;&nbsp;2.750%, 11/18/2030 | 312000 | &nbsp;&nbsp;&nbsp;&nbsp;284050 |
|  |  | 9957361 |
| **Utilities – 2.5%** |  |  |
| American Transmission Systems, Inc.<br> 2.650%, 01/15/2032 (C) | 161000 | &nbsp;&nbsp;&nbsp;&nbsp;144867 |
| Arizona Public Service Company<br> 5.900%, 08/15/2055 | 451000 | &nbsp;&nbsp;&nbsp;&nbsp;458546 |
| Baltimore Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/15/2031 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;311595 |
| &nbsp;&nbsp;&nbsp;5.450%, 06/01/2035 | 453000 | &nbsp;&nbsp;&nbsp;&nbsp;469366 |
| CenterPoint Energy Houston<br> Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 03/01/2052 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;185569 |
| &nbsp;&nbsp;&nbsp;4.950%, 08/15/2035 | 546000 | &nbsp;&nbsp;&nbsp;&nbsp;549890 |
| Chile Electricity Lux MPC II Sarl |  |  |
| &nbsp;&nbsp;&nbsp;5.580%, 10/20/2035 (C) | 336262 | &nbsp;&nbsp;&nbsp;&nbsp;344606 |
| &nbsp;&nbsp;&nbsp;5.672%, 10/20/2035 (C) | 512620 | &nbsp;&nbsp;&nbsp;&nbsp;532376 |
| Consolidated Edison Company of New<br> York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 12/01/2051 | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;51128 |
| &nbsp;&nbsp;&nbsp;3.700%, 11/15/2059 | 131000 | &nbsp;&nbsp;&nbsp;&nbsp;91464 |
| Consumers Energy Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 01/15/2031 | 678000 | &nbsp;&nbsp;&nbsp;&nbsp;685470 |
| &nbsp;&nbsp;&nbsp;5.050%, 05/15/2035 | 501000 | &nbsp;&nbsp;&nbsp;&nbsp;509659 |
| DTE Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 03/01/2050 | 402000 | &nbsp;&nbsp;&nbsp;&nbsp;264709 |
| &nbsp;&nbsp;&nbsp;3.650%, 03/01/2052 | 184000 | &nbsp;&nbsp;&nbsp;&nbsp;135461 |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 04/15/2031 | 157000 | &nbsp;&nbsp;&nbsp;&nbsp;144521 |
| &nbsp;&nbsp;&nbsp;2.850%, 03/15/2032 | 428000 | &nbsp;&nbsp;&nbsp;&nbsp;391952 |
| &nbsp;&nbsp;&nbsp;3.550%, 03/15/2052 | 312000 | &nbsp;&nbsp;&nbsp;&nbsp;224155 |
| &nbsp;&nbsp;&nbsp;5.350%, 01/15/2053 | 302000 | &nbsp;&nbsp;&nbsp;&nbsp;289716 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/15/2051 | 214000 | &nbsp;&nbsp;&nbsp;&nbsp;148206 |
| &nbsp;&nbsp;&nbsp;4.950%, 09/15/2035 | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;262777 |
| Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 12/15/2031 | 344000 | &nbsp;&nbsp;&nbsp;&nbsp;310773 |
| &nbsp;&nbsp;&nbsp;4.200%, 12/01/2030 | 179000 | &nbsp;&nbsp;&nbsp;&nbsp;179063 |
| &nbsp;&nbsp;&nbsp;4.850%, 12/01/2035 | 366000 | &nbsp;&nbsp;&nbsp;&nbsp;364403 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 08/15/2050 | 348000 | &nbsp;&nbsp;&nbsp;&nbsp;202882 |
| &nbsp;&nbsp;&nbsp;3.700%, 10/15/2046 | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;59448 |
| Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 06/15/2051 | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;184256 |
| &nbsp;&nbsp;&nbsp;5.150%, 01/15/2033 | 517000 | &nbsp;&nbsp;&nbsp;&nbsp;534517 |
| Entergy Mississippi LLC<br> 5.800%, 04/15/2055 | 337000 | &nbsp;&nbsp;&nbsp;&nbsp;338995 |
| Exelon Corp.<br> 5.875%, 03/15/2055 | 519000 | &nbsp;&nbsp;&nbsp;&nbsp;520441 |
| FirstEnergy Pennsylvania<br> Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 03/15/2028 (C) | 336000 | &nbsp;&nbsp;&nbsp;&nbsp;329219 |
| &nbsp;&nbsp;&nbsp;4.300%, 01/15/2029 (C) | 405000 | &nbsp;&nbsp;&nbsp;&nbsp;405042 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| FirstEnergy Pennsylvania<br> Electric Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 04/01/2028 (C) | $265000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270553 |
| Georgia Power Company<br> 4.850%, 03/15/2031 | 249000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255472 |
| Jersey Central Power & Light Company |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 03/01/2032 (C) | 379000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340443 |
| &nbsp;&nbsp;&nbsp;4.150%, 01/15/2029 (C) | 369000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368374 |
| &nbsp;&nbsp;&nbsp;4.400%, 01/15/2031 (C) | 616000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613770 |
| &nbsp;&nbsp;&nbsp;5.100%, 01/15/2035 | 307000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310448 |
| MidAmerican Energy Company |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 08/01/2052 | 299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182720 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/15/2056 | 296000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289618 |
| Mississippi Power Company |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 07/30/2051 | 413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269579 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/15/2042 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149986 |
| Northern States Power Company |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 05/15/2035 | 565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575675 |
| &nbsp;&nbsp;&nbsp;5.400%, 03/15/2054 | 209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202607 |
| &nbsp;&nbsp;&nbsp;5.650%, 06/15/2054 | 226000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227510 |
| Ohio Edison Company<br> 4.950%, 12/15/2029 (C) | 339000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346666 |
| Oncor Electric Delivery Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.350%, 04/01/2035 (C) | 184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189698 |
| &nbsp;&nbsp;&nbsp;5.800%, 04/01/2055 (C) | 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372127 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 08/01/2050 | 131000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88333 |
| &nbsp;&nbsp;&nbsp;3.950%, 12/01/2047 | 842000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626859 |
| &nbsp;&nbsp;&nbsp;4.200%, 06/01/2041 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166623 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832554 |
| &nbsp;&nbsp;&nbsp;5.050%, 10/15/2032 | 579000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582229 |
| &nbsp;&nbsp;&nbsp;6.100%, 10/15/2055 | 371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364095 |
| PECO Energy Company<br> 2.850%, 09/15/2051 | 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259295 |
| PPL Capital Funding, Inc.<br> 5.250%, 09/01/2034 | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245784 |
| Public Service Company of Oklahoma<br> 3.150%, 08/15/2051 | 233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153193 |
| Public Service Electric & Gas Company |  |  |
| &nbsp;&nbsp;&nbsp;1.900%, 08/15/2031 | 592000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522500 |
| &nbsp;&nbsp;&nbsp;2.050%, 08/01/2050 | &nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51832 |
| &nbsp;&nbsp;&nbsp;2.700%, 05/01/2050 | 161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99891 |
| Southern California Edison Company<br> 4.125%, 03/01/2048 | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28082 |
| Trans-Allegheny Interstate Line Company<br> 5.000%, 01/15/2031 (C) | 491000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504387 |
| Virginia Electric & Power Company<br> 2.950%, 11/15/2051 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217000 |
| Wisconsin Electric Power Company<br> 4.150%, 10/15/2030 | 495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494348 |
|  |  | &nbsp;&nbsp;&nbsp;19827323 |
| TOTAL CORPORATE BONDS (Cost $193,974,036) |  | $193049056 |
| **MUNICIPAL BONDS – 0.1%** |  |  |
| Board of Regents of the University of Texas System<br> 2.439%, 08/15/2049 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133823 |
| North Texas Tollway Authority<br> 6.718%, 01/01/2049 | 343000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377113 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 24 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| Ohio State University<br> 4.800%, 06/01/2111 | &nbsp;&nbsp;41000 | $&nbsp;&nbsp;&nbsp;&nbsp;33798 |
| Port Authority of New York & New Jersey<br> 4.458%, 10/01/2062 | 571000 | &nbsp;&nbsp;&nbsp;&nbsp;478455 |
| TOTAL MUNICIPAL BONDS (Cost $1,389,280) | TOTAL MUNICIPAL BONDS (Cost $1,389,280) | $1023189 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 14.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 14.1%** |  |
| **Commercial and residential – 1.5%** |  |  |
| Angel Oak Mortgage Trust LLC<br> Series 2021-6, Class A1<br> 1.458%, 09/25/2066 (C)(E) | 371394 | &nbsp;&nbsp;&nbsp;&nbsp;315860 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-BNK44, Class A5,<br> 5.743%, 11/15/2055 (E) | 302000 | &nbsp;&nbsp;&nbsp;&nbsp;321180 |
| &nbsp;&nbsp;&nbsp;Series 2025-BNK51, Class A5,<br> 5.290%, 12/25/2067 | 640000 | &nbsp;&nbsp;&nbsp;&nbsp;658640 |
| BANK5<br> Series 2025-5YR19, Class A3<br> 5.270%, 12/15/2058 | 538000 | &nbsp;&nbsp;&nbsp;&nbsp;556032 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C2, Class ASB,<br> 4.236%, 12/15/2051 | 112041 | &nbsp;&nbsp;&nbsp;&nbsp;112118 |
| &nbsp;&nbsp;&nbsp;Series 2021-C12, Class A5,<br> 2.689%, 11/15/2054 | 201000 | &nbsp;&nbsp;&nbsp;&nbsp;180165 |
| &nbsp;&nbsp;&nbsp;Series 2022-C17, Class A5,<br> 4.441%, 09/15/2055 | 256000 | &nbsp;&nbsp;&nbsp;&nbsp;252503 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C33, Class A4,<br> 5.839%, 03/15/2058 | 502000 | &nbsp;&nbsp;&nbsp;&nbsp;528496 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C37, Class A3,<br> 5.015%, 09/15/2058 | 126000 | &nbsp;&nbsp;&nbsp;&nbsp;128894 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C38, Class A3,<br> 5.146%, 11/15/2058 | 758000 | &nbsp;&nbsp;&nbsp;&nbsp;779780 |
| &nbsp;&nbsp;&nbsp;Series 2025-C35, Class A5,<br> 5.586%, 07/15/2058 (E) | 189000 | &nbsp;&nbsp;&nbsp;&nbsp;198714 |
| Benchmark Mortgage Trust<br> Series 2021-B25, Class A4<br> 2.268%, 04/15/2054 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;228414 |
| BMO Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-C11, Class A5,<br> 5.687%, 02/15/2058 | 376000 | &nbsp;&nbsp;&nbsp;&nbsp;396837 |
| &nbsp;&nbsp;&nbsp;Series 2025-C12, Class A5,<br> 5.871%, 06/15/2058 (E) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;267586 |
| Bunker Hill Loan Depositary Trust<br> Series 2019-2, Class A1<br> 2.879%, 07/25/2049 (C) | 103391 | &nbsp;&nbsp;&nbsp;&nbsp;101738 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-VLT7, Class A (1 month CME Term SOFR + 1.700%),<br> 5.450%, 07/15/2044 (A)(C) | 479000 | &nbsp;&nbsp;&nbsp;&nbsp;479742 |
| &nbsp;&nbsp;&nbsp;Series 2025-VOLT, Class A (1 month CME Term SOFR + 1.700%),<br> 5.450%, 12/15/2044 (A)(C) | 885000 | &nbsp;&nbsp;&nbsp;&nbsp;885550 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.924%, 08/25/2066 (C)(E) | 469917 | &nbsp;&nbsp;&nbsp;&nbsp;399057 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.397%, 10/25/2066 (C)(E) | 519872 | &nbsp;&nbsp;&nbsp;&nbsp;445737 |
| CSAIL Commercial Mortgage Trust<br> Series 2019-C16, Class ASB<br> 3.142%, 06/15/2052 | 261245 | &nbsp;&nbsp;&nbsp;&nbsp;257861 |
| GS Mortgage Securities Trust<br> Series 2020-GSA2, Class A4<br> 1.721%, 12/12/2053 | 995000 | &nbsp;&nbsp;&nbsp;&nbsp;893099 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| JPMorgan Chase Commercial Mortgage Securities Trust<br> Series 2016-JP4, Class A3<br> 3.393%, 12/15/2049 | $134483 | $&nbsp;&nbsp;&nbsp;&nbsp;133518 |
| MFA Trust<br> Series 2021-NQM2, Class A1<br> 1.029%, 11/25/2064 (C)(E) | 183782 | &nbsp;&nbsp;&nbsp;&nbsp;163026 |
| Morgan Stanley Capital I Trust<br> Series 2020-HR8, Class A3<br> 1.790%, 07/15/2053 | 372479 | &nbsp;&nbsp;&nbsp;&nbsp;337396 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A1,<br> 1.027%, 11/25/2055 (C)(E) | &nbsp;&nbsp;65401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62659 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.162%, 08/25/2056 (C)(E) | 422596 | &nbsp;&nbsp;&nbsp;&nbsp;377225 |
| SWCH Commercial Mortgage Trust<br> Series 2025-DATA, Class A (1 month CME Term SOFR + 1.443%)<br> 5.193%, 02/15/2042 (A)(C) | 749000 | &nbsp;&nbsp;&nbsp;&nbsp;742026 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.815%, 01/25/2066 (C)(E) | 185308 | &nbsp;&nbsp;&nbsp;&nbsp;167455 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 1.031%, 02/25/2066 (C)(E) | 365625 | &nbsp;&nbsp;&nbsp;&nbsp;334973 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (C)(E) | 328704 | &nbsp;&nbsp;&nbsp;&nbsp;289987 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (C)(E) | 419634 | &nbsp;&nbsp;&nbsp;&nbsp;355501 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 2.824%, 11/25/2066 (C)(E) | 431026 | &nbsp;&nbsp;&nbsp;&nbsp;399821 |
| &nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1,<br> 0.820%, 10/25/2063 (C)(E) | &nbsp;&nbsp;79466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77040 |
| &nbsp;&nbsp;&nbsp;Series 2021-R3, Class A1,<br> 1.020%, 04/25/2064 (C)(E) | 142958 | &nbsp;&nbsp;&nbsp;&nbsp;136846 |
|  |  | 11965476 |
| **U.S. Government Agency – 12.6%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 264, Class 30,<br> 3.000%, 07/15/2042 | 743664 | &nbsp;&nbsp;&nbsp;&nbsp;686167 |
| &nbsp;&nbsp;&nbsp;Series 326, Class F2 (30 day Average SOFR + 0.664%),<br> 4.648%, 03/15/2044 (A) | 270941 | &nbsp;&nbsp;&nbsp;&nbsp;270030 |
| &nbsp;&nbsp;&nbsp;Series 3693, Class FC (30 day Average SOFR + 0.614%),<br> 4.598%, 07/15/2040 (A) | 174529 | &nbsp;&nbsp;&nbsp;&nbsp;173398 |
| &nbsp;&nbsp;&nbsp;Series 3919, Class FA (30 day Average SOFR + 0.614%),<br> 4.598%, 09/15/2041 (A) | 170224 | &nbsp;&nbsp;&nbsp;&nbsp;168986 |
| &nbsp;&nbsp;&nbsp;Series 3958, Class AF (30 day Average SOFR + 0.564%),<br> 4.548%, 11/15/2041 (A) | 156239 | &nbsp;&nbsp;&nbsp;&nbsp;154861 |
| &nbsp;&nbsp;&nbsp;Series 3975, Class FA (30 day Average SOFR + 0.604%),<br> 4.588%, 12/15/2041 (A) | 143288 | &nbsp;&nbsp;&nbsp;&nbsp;142326 |
| &nbsp;&nbsp;&nbsp;Series 3990, Class FG (30 day Average SOFR + 0.564%),<br> 4.548%, 01/15/2042 (A) | 178697 | &nbsp;&nbsp;&nbsp;&nbsp;177197 |
| &nbsp;&nbsp;&nbsp;Series 4059, Class FP (30 day Average SOFR + 0.564%),<br> 4.548%, 06/15/2042 (A) | 212494 | &nbsp;&nbsp;&nbsp;&nbsp;210391 |
| &nbsp;&nbsp;&nbsp;Series 4091, Class BX,<br> 3.250%, 10/15/2041 | 360021 | &nbsp;&nbsp;&nbsp;&nbsp;342500 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 25 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 4091, Class EX,<br> 3.375%, 07/15/2042 | $&nbsp;&nbsp;230205 | $&nbsp;&nbsp;&nbsp;&nbsp;218285 |
| &nbsp;&nbsp;&nbsp;Series 4091, Class FN (30 day Average SOFR + 0.514%),<br> 4.498%, 08/15/2042 (A) | &nbsp;&nbsp;208949 | &nbsp;&nbsp;&nbsp;&nbsp;206229 |
| &nbsp;&nbsp;&nbsp;Series 4091, Class MX,<br> 3.250%, 02/15/2042 | &nbsp;&nbsp;265319 | &nbsp;&nbsp;&nbsp;&nbsp;250404 |
| &nbsp;&nbsp;&nbsp;Series 4117, Class HB,<br> 2.500%, 10/15/2042 | &nbsp;&nbsp;234650 | &nbsp;&nbsp;&nbsp;&nbsp;212684 |
| &nbsp;&nbsp;&nbsp;Series 4160, Class HP,<br> 2.500%, 01/15/2033 | &nbsp;&nbsp;206235 | &nbsp;&nbsp;&nbsp;&nbsp;199306 |
| &nbsp;&nbsp;&nbsp;Series 4184, Class FN (30 day Average SOFR + 0.464%),<br> 4.448%, 03/15/2043 (A) | &nbsp;&nbsp;124464 | &nbsp;&nbsp;&nbsp;&nbsp;122605 |
| &nbsp;&nbsp;&nbsp;Series 4240, Class FA (30 day Average SOFR + 0.614%),<br> 4.598%, 08/15/2043 (A) | &nbsp;&nbsp;642564 | &nbsp;&nbsp;&nbsp;&nbsp;635723 |
| &nbsp;&nbsp;&nbsp;Series 4281, Class FA (30 day Average SOFR + 0.514%),<br> 4.498%, 12/15/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;96261 | &nbsp;&nbsp;&nbsp;&nbsp;95406 |
| &nbsp;&nbsp;&nbsp;Series 4290, Class LF (30 day Average SOFR + 0.514%),<br> 4.498%, 07/15/2035 (A) | &nbsp;&nbsp;207539 | &nbsp;&nbsp;&nbsp;&nbsp;205927 |
| &nbsp;&nbsp;&nbsp;Series 4303, Class FA (30 day Average SOFR + 0.464%),<br> 4.448%, 02/15/2044 (A) | &nbsp;&nbsp;174518 | &nbsp;&nbsp;&nbsp;&nbsp;172048 |
| &nbsp;&nbsp;&nbsp;Series 4427, Class CE,<br> 3.000%, 02/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;43586 | &nbsp;&nbsp;&nbsp;&nbsp;43230 |
| &nbsp;&nbsp;&nbsp;Series 4446, Class CP,<br> 2.250%, 03/15/2045 | &nbsp;&nbsp;297942 | &nbsp;&nbsp;&nbsp;&nbsp;269788 |
| &nbsp;&nbsp;&nbsp;Series 4582, Class HA,<br> 3.000%, 09/15/2045 | 1088256 | 1034195 |
| &nbsp;&nbsp;&nbsp;Series 4587, Class AF (30 day Average SOFR + 0.464%),<br> 4.448%, 06/15/2046 (A) | &nbsp;&nbsp;290540 | &nbsp;&nbsp;&nbsp;&nbsp;288292 |
| &nbsp;&nbsp;&nbsp;Series 4604, Class FB (30 day Average SOFR + 0.514%),<br> 4.498%, 08/15/2046 (A) | &nbsp;&nbsp;575481 | &nbsp;&nbsp;&nbsp;&nbsp;570033 |
| &nbsp;&nbsp;&nbsp;Series 4611, Class BF (30 day Average SOFR + 0.514%),<br> 4.498%, 06/15/2041 (A) | 2186972 | 2165657 |
| &nbsp;&nbsp;&nbsp;Series 4620, Class LF (30 day Average SOFR + 0.514%),<br> 4.498%, 10/15/2046 (A) | &nbsp;&nbsp;309397 | &nbsp;&nbsp;&nbsp;&nbsp;306737 |
| &nbsp;&nbsp;&nbsp;Series 4628, Class KF (30 day Average SOFR + 0.614%),<br> 4.598%, 01/15/2055 (A) | &nbsp;&nbsp;355287 | &nbsp;&nbsp;&nbsp;&nbsp;348089 |
| &nbsp;&nbsp;&nbsp;Series 4709, Class FA (30 day Average SOFR + 0.414%),<br> 4.398%, 08/15/2047 (A) | &nbsp;&nbsp;229712 | &nbsp;&nbsp;&nbsp;&nbsp;226679 |
| &nbsp;&nbsp;&nbsp;Series 4719, Class LA,<br> 3.500%, 09/15/2047 | &nbsp;&nbsp;327762 | &nbsp;&nbsp;&nbsp;&nbsp;308828 |
| &nbsp;&nbsp;&nbsp;Series 4719, Class LM,<br> 3.000%, 09/15/2047 | &nbsp;&nbsp;246531 | &nbsp;&nbsp;&nbsp;&nbsp;225008 |
| &nbsp;&nbsp;&nbsp;Series 4742, Class PA,<br> 3.000%, 10/15/2047 | &nbsp;&nbsp;650610 | &nbsp;&nbsp;&nbsp;&nbsp;600686 |
| &nbsp;&nbsp;&nbsp;Series 4753, Class BD,<br> 3.000%, 01/15/2048 | &nbsp;&nbsp;272552 | &nbsp;&nbsp;&nbsp;&nbsp;246605 |
| &nbsp;&nbsp;&nbsp;Series 4826, Class KF (30 day Average SOFR + 0.414%),<br> 4.398%, 09/15/2048 (A) | &nbsp;&nbsp;216007 | &nbsp;&nbsp;&nbsp;&nbsp;211475 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 4854, Class FB (30 day Average SOFR + 0.414%),<br> 4.398%, 01/15/2049 (A) | $&nbsp;&nbsp;581822 | $&nbsp;&nbsp;&nbsp;&nbsp;574844 |
| &nbsp;&nbsp;&nbsp;Series 4857, Class JA,<br> 3.350%, 01/15/2049 | &nbsp;&nbsp;913408 | &nbsp;&nbsp;&nbsp;&nbsp;884395 |
| &nbsp;&nbsp;&nbsp;Series 4880, Class DA,<br> 3.000%, 05/15/2050 | &nbsp;&nbsp;514085 | &nbsp;&nbsp;&nbsp;&nbsp;479591 |
| &nbsp;&nbsp;&nbsp;Series 4903, Class NF (30 day Average SOFR + 0.514%),<br> 4.389%, 08/25/2049 (A) | &nbsp;&nbsp;193824 | &nbsp;&nbsp;&nbsp;&nbsp;190845 |
| &nbsp;&nbsp;&nbsp;Series 4927, Class BG,<br> 3.000%, 11/25/2049 | &nbsp;&nbsp;428667 | &nbsp;&nbsp;&nbsp;&nbsp;397868 |
| &nbsp;&nbsp;&nbsp;Series 4937, Class MD,<br> 2.500%, 10/25/2049 | &nbsp;&nbsp;422261 | &nbsp;&nbsp;&nbsp;&nbsp;377459 |
| &nbsp;&nbsp;&nbsp;Series 4940, Class AG,<br> 3.000%, 05/15/2040 | &nbsp;&nbsp;262812 | &nbsp;&nbsp;&nbsp;&nbsp;251577 |
| &nbsp;&nbsp;&nbsp;Series 4941, Class GA,<br> 2.000%, 12/15/2047 | &nbsp;&nbsp;246081 | &nbsp;&nbsp;&nbsp;&nbsp;208526 |
| &nbsp;&nbsp;&nbsp;Series 4954, Class LB,<br> 2.500%, 02/25/2050 | &nbsp;&nbsp;257504 | &nbsp;&nbsp;&nbsp;&nbsp;228444 |
| &nbsp;&nbsp;&nbsp;Series 4957, Class MY,<br> 3.000%, 02/25/2050 | &nbsp;&nbsp;317000 | &nbsp;&nbsp;&nbsp;&nbsp;268088 |
| &nbsp;&nbsp;&nbsp;Series 4988, Class KF (30 day Average SOFR + 0.464%),<br> 4.339%, 07/25/2050 (A) | &nbsp;&nbsp;327306 | &nbsp;&nbsp;&nbsp;&nbsp;323736 |
| &nbsp;&nbsp;&nbsp;Series 4993, Class KF (30 day Average SOFR + 0.564%),<br> 4.439%, 07/25/2050 (A) | 1998216 | 1950006 |
| &nbsp;&nbsp;&nbsp;Series 5004, Class FM (30 day Average SOFR + 0.464%),<br> 4.339%, 08/25/2050 (A) | &nbsp;&nbsp;400466 | &nbsp;&nbsp;&nbsp;&nbsp;388103 |
| &nbsp;&nbsp;&nbsp;Series 5020, Class ET,<br> 3.500%, 10/25/2050 | &nbsp;&nbsp;386060 | &nbsp;&nbsp;&nbsp;&nbsp;357599 |
| &nbsp;&nbsp;&nbsp;Series 5058, Class BC,<br> 5.000%, 11/25/2050 | &nbsp;&nbsp;278958 | &nbsp;&nbsp;&nbsp;&nbsp;276813 |
| &nbsp;&nbsp;&nbsp;Series 5091, Class AB,<br> 1.500%, 03/25/2051 | &nbsp;&nbsp;746427 | &nbsp;&nbsp;&nbsp;&nbsp;613969 |
| &nbsp;&nbsp;&nbsp;Series 5092, Class HE,<br> 2.000%, 02/25/2051 | &nbsp;&nbsp;460728 | &nbsp;&nbsp;&nbsp;&nbsp;391460 |
| &nbsp;&nbsp;&nbsp;Series 5118, Class CA,<br> 1.500%, 10/15/2033 | &nbsp;&nbsp;436380 | &nbsp;&nbsp;&nbsp;&nbsp;407711 |
| &nbsp;&nbsp;&nbsp;Series 5119, Class QF (30 day Average SOFR + 0.200%),<br> 4.074%, 06/25/2051 (A) | &nbsp;&nbsp;598349 | &nbsp;&nbsp;&nbsp;&nbsp;570351 |
| &nbsp;&nbsp;&nbsp;Series 5202, Class KA,<br> 2.500%, 06/25/2049 | &nbsp;&nbsp;409154 | &nbsp;&nbsp;&nbsp;&nbsp;370835 |
| &nbsp;&nbsp;&nbsp;Series 5202, Class TA,<br> 2.500%, 12/25/2048 | &nbsp;&nbsp;768108 | &nbsp;&nbsp;&nbsp;&nbsp;710990 |
| &nbsp;&nbsp;&nbsp;Series 5207, Class PA,<br> 3.000%, 06/25/2051 | &nbsp;&nbsp;593372 | &nbsp;&nbsp;&nbsp;&nbsp;537409 |
| &nbsp;&nbsp;&nbsp;Series 5217, Class CD,<br> 2.500%, 07/25/2049 | &nbsp;&nbsp;417005 | &nbsp;&nbsp;&nbsp;&nbsp;393049 |
| &nbsp;&nbsp;&nbsp;Series 5220, Class QK,<br> 3.500%, 09/25/2050 | &nbsp;&nbsp;824810 | &nbsp;&nbsp;&nbsp;&nbsp;800442 |
| &nbsp;&nbsp;&nbsp;Series 5228, Class TN,<br> 3.500%, 07/25/2039 | &nbsp;&nbsp;290678 | &nbsp;&nbsp;&nbsp;&nbsp;281971 |
| &nbsp;&nbsp;&nbsp;Series 5335, Class FB (30 day Average SOFR + 0.814%),<br> 4.798%, 10/15/2039 (A) | &nbsp;&nbsp;753273 | &nbsp;&nbsp;&nbsp;&nbsp;755593 |
| &nbsp;&nbsp;&nbsp;Series 5396, Class HF (30 day Average SOFR + 0.950%),<br> 4.824%, 04/25/2054 (A) | 1028020 | 1029872 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 26 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 5399, Class FB (30 day Average SOFR + 0.900%),<br> 4.774%, 04/25/2054 (A) | $&nbsp;&nbsp;610343 | $&nbsp;&nbsp;&nbsp;&nbsp;609862 |
| &nbsp;&nbsp;&nbsp;Series 5410, Class JY,<br> 3.000%, 03/15/2044 | &nbsp;&nbsp;484000 | &nbsp;&nbsp;&nbsp;&nbsp;418755 |
| &nbsp;&nbsp;&nbsp;Series 5451, Class FD (30 day Average SOFR + 0.514%),<br> 4.498%, 01/15/2044 (A) | &nbsp;&nbsp;340870 | &nbsp;&nbsp;&nbsp;&nbsp;336743 |
| &nbsp;&nbsp;&nbsp;Series 5452, Class KY,<br> 3.000%, 03/15/2044 | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;453738 |
| &nbsp;&nbsp;&nbsp;Series 5529, Class HA,<br> 3.000%, 03/15/2043 | &nbsp;&nbsp;274739 | &nbsp;&nbsp;&nbsp;&nbsp;262239 |
| &nbsp;&nbsp;&nbsp;Series 5565, Class QA,<br> 4.500%, 08/25/2055 | 1324103 | 1322333 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2010-107, Class FB (30 day Average SOFR + 0.524%),<br> 4.399%, 09/25/2040 (A) | &nbsp;&nbsp;158991 | &nbsp;&nbsp;&nbsp;&nbsp;157616 |
| &nbsp;&nbsp;&nbsp;Series 2011-111, Class DB,<br> 4.000%, 11/25/2041 | &nbsp;&nbsp;366612 | &nbsp;&nbsp;&nbsp;&nbsp;357484 |
| &nbsp;&nbsp;&nbsp;Series 2011-117, Class AF (30 day Average SOFR + 0.564%),<br> 4.439%, 11/25/2041 (A) | &nbsp;&nbsp;144574 | &nbsp;&nbsp;&nbsp;&nbsp;143264 |
| &nbsp;&nbsp;&nbsp;Series 2011-117, Class FA (30 day Average SOFR + 0.564%),<br> 4.439%, 11/25/2041 (A) | &nbsp;&nbsp;334304 | &nbsp;&nbsp;&nbsp;&nbsp;331385 |
| &nbsp;&nbsp;&nbsp;Series 2011-127, Class FC (30 day Average SOFR + 0.564%),<br> 4.439%, 12/25/2041 (A) | &nbsp;&nbsp;154076 | &nbsp;&nbsp;&nbsp;&nbsp;152564 |
| &nbsp;&nbsp;&nbsp;Series 2011-142, Class EF (30 day Average SOFR + 0.614%),<br> 4.489%, 01/25/2042 (A) | &nbsp;&nbsp;174512 | &nbsp;&nbsp;&nbsp;&nbsp;173262 |
| &nbsp;&nbsp;&nbsp;Series 2011-55, Class FH (30 day Average SOFR + 0.554%),<br> 4.429%, 06/25/2041 (A) | &nbsp;&nbsp;119801 | &nbsp;&nbsp;&nbsp;&nbsp;118942 |
| &nbsp;&nbsp;&nbsp;Series 2012-106, Class FA (30 day Average SOFR + 0.454%),<br> 4.329%, 10/25/2042 (A) | &nbsp;&nbsp;135673 | &nbsp;&nbsp;&nbsp;&nbsp;134137 |
| &nbsp;&nbsp;&nbsp;Series 2012-12, Class FA (30 day Average SOFR + 0.614%),<br> 4.489%, 02/25/2042 (A) | &nbsp;&nbsp;153163 | &nbsp;&nbsp;&nbsp;&nbsp;152020 |
| &nbsp;&nbsp;&nbsp;Series 2012-47, Class JF (30 day Average SOFR + 0.614%),<br> 4.489%, 05/25/2042 (A) | &nbsp;&nbsp;205553 | &nbsp;&nbsp;&nbsp;&nbsp;203993 |
| &nbsp;&nbsp;&nbsp;Series 2013-11, Class AP,<br> 1.500%, 01/25/2043 | &nbsp;&nbsp;636330 | &nbsp;&nbsp;&nbsp;&nbsp;588420 |
| &nbsp;&nbsp;&nbsp;Series 2013-49, Class AP,<br> 1.750%, 05/25/2043 | &nbsp;&nbsp;191400 | &nbsp;&nbsp;&nbsp;&nbsp;167144 |
| &nbsp;&nbsp;&nbsp;Series 2014-25, Class EL,<br> 3.000%, 05/25/2044 | &nbsp;&nbsp;338702 | &nbsp;&nbsp;&nbsp;&nbsp;312343 |
| &nbsp;&nbsp;&nbsp;Series 2014-74, Class FC (30 day Average SOFR + 0.514%),<br> 4.389%, 11/25/2044 (A) | &nbsp;&nbsp;174729 | &nbsp;&nbsp;&nbsp;&nbsp;172370 |
| &nbsp;&nbsp;&nbsp;Series 2015-32, Class FA (30 day Average SOFR + 0.414%),<br> 4.289%, 05/25/2045 (A) | &nbsp;&nbsp;318839 | &nbsp;&nbsp;&nbsp;&nbsp;312065 |
| &nbsp;&nbsp;&nbsp;Series 2015-48, Class FB (30 day Average SOFR + 0.414%),<br> 4.289%, 07/25/2045 (A) | &nbsp;&nbsp;375743 | &nbsp;&nbsp;&nbsp;&nbsp;367937 |
| &nbsp;&nbsp;&nbsp;Series 2015-72, Class GL,<br> 3.000%, 10/25/2045 | &nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;219891 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-8, Class AP,<br> 2.000%, 03/25/2045 | $&nbsp;&nbsp;579248 | $&nbsp;&nbsp;&nbsp;&nbsp;524487 |
| &nbsp;&nbsp;&nbsp;Series 2015-84, Class PA,<br> 1.700%, 08/25/2033 | &nbsp;&nbsp;372113 | &nbsp;&nbsp;&nbsp;&nbsp;352752 |
| &nbsp;&nbsp;&nbsp;Series 2016-11, Class CF (30 day Average SOFR + 0.464%),<br> 4.339%, 03/25/2046 (A) | &nbsp;&nbsp;159445 | &nbsp;&nbsp;&nbsp;&nbsp;157713 |
| &nbsp;&nbsp;&nbsp;Series 2016-11, Class FG (30 day Average SOFR + 0.464%),<br> 4.339%, 03/25/2046 (A) | &nbsp;&nbsp;210793 | &nbsp;&nbsp;&nbsp;&nbsp;208502 |
| &nbsp;&nbsp;&nbsp;Series 2016-19, Class FD (30 day Average SOFR + 0.514%),<br> 4.389%, 04/25/2046 (A) | &nbsp;&nbsp;966816 | &nbsp;&nbsp;&nbsp;&nbsp;959214 |
| &nbsp;&nbsp;&nbsp;Series 2016-22, Class FA (30 day Average SOFR + 0.514%),<br> 4.389%, 04/25/2046 (A) | &nbsp;&nbsp;418703 | &nbsp;&nbsp;&nbsp;&nbsp;414678 |
| &nbsp;&nbsp;&nbsp;Series 2016-22, Class FG (30 day Average SOFR + 0.514%),<br> 4.389%, 04/25/2046 (A) | &nbsp;&nbsp;366203 | &nbsp;&nbsp;&nbsp;&nbsp;362610 |
| &nbsp;&nbsp;&nbsp;Series 2016-48, Class MA,<br> 2.000%, 06/25/2038 | &nbsp;&nbsp;837014 | &nbsp;&nbsp;&nbsp;&nbsp;788494 |
| &nbsp;&nbsp;&nbsp;Series 2016-57, Class PC,<br> 1.750%, 06/25/2046 | 1964835 | 1691616 |
| &nbsp;&nbsp;&nbsp;Series 2016-64, Class BC,<br> 1.750%, 09/25/2046 | &nbsp;&nbsp;381753 | &nbsp;&nbsp;&nbsp;&nbsp;359427 |
| &nbsp;&nbsp;&nbsp;Series 2016-64, Class PE,<br> 2.500%, 09/25/2046 | &nbsp;&nbsp;281000 | &nbsp;&nbsp;&nbsp;&nbsp;217655 |
| &nbsp;&nbsp;&nbsp;Series 2016-69, Class BF (30 day Average SOFR + 0.514%),<br> 4.389%, 10/25/2046 (A) | &nbsp;&nbsp;335491 | &nbsp;&nbsp;&nbsp;&nbsp;332579 |
| &nbsp;&nbsp;&nbsp;Series 2016-75, Class FE (30 day Average SOFR + 0.514%),<br> 4.389%, 10/25/2046 (A) | &nbsp;&nbsp;254207 | &nbsp;&nbsp;&nbsp;&nbsp;252129 |
| &nbsp;&nbsp;&nbsp;Series 2016-78, Class FA (30 day Average SOFR + 0.514%),<br> 4.389%, 03/25/2044 (A) | &nbsp;&nbsp;160634 | &nbsp;&nbsp;&nbsp;&nbsp;159002 |
| &nbsp;&nbsp;&nbsp;Series 2016-79, Class FH (30 day Average SOFR + 0.514%),<br> 4.389%, 11/25/2046 (A) | &nbsp;&nbsp;257947 | &nbsp;&nbsp;&nbsp;&nbsp;255796 |
| &nbsp;&nbsp;&nbsp;Series 2016-82, Class FE (30 day Average SOFR + 0.514%),<br> 4.389%, 11/25/2046 (A) | &nbsp;&nbsp;560222 | &nbsp;&nbsp;&nbsp;&nbsp;555732 |
| &nbsp;&nbsp;&nbsp;Series 2016-82, Class FH (30 day Average SOFR + 0.514%),<br> 4.389%, 11/25/2046 (A) | &nbsp;&nbsp;520889 | &nbsp;&nbsp;&nbsp;&nbsp;516031 |
| &nbsp;&nbsp;&nbsp;Series 2016-84, Class FB (30 day Average SOFR + 0.514%),<br> 4.389%, 11/25/2046 (A) | &nbsp;&nbsp;248060 | &nbsp;&nbsp;&nbsp;&nbsp;245689 |
| &nbsp;&nbsp;&nbsp;Series 2016-86, Class FE (30 day Average SOFR + 0.514%),<br> 4.389%, 11/25/2046 (A) | &nbsp;&nbsp;650748 | &nbsp;&nbsp;&nbsp;&nbsp;644444 |
| &nbsp;&nbsp;&nbsp;Series 2016-88, Class CF (30 day Average SOFR + 0.564%),<br> 4.439%, 12/25/2046 (A) | &nbsp;&nbsp;436390 | &nbsp;&nbsp;&nbsp;&nbsp;433068 |
| &nbsp;&nbsp;&nbsp;Series 2016-91, Class AF (30 day Average SOFR + 0.514%),<br> 4.389%, 12/25/2046 (A) | &nbsp;&nbsp;225109 | &nbsp;&nbsp;&nbsp;&nbsp;223460 |
| &nbsp;&nbsp;&nbsp;Series 2017-11, Class FA (30 day Average SOFR + 0.514%),<br> 4.389%, 03/25/2047 (A) | &nbsp;&nbsp;&nbsp;&nbsp;96761 | &nbsp;&nbsp;&nbsp;&nbsp;95955 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 27 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-113, Class FB (30 day Average SOFR + 0.364%),<br> 4.239%, 01/25/2048 (A) | $104347 | $102959 |
| &nbsp;&nbsp;&nbsp;Series 2017-12, Class FD (30 day Average SOFR + 0.514%),<br> 4.389%, 03/25/2047 (A) | 248937 | 246824 |
| &nbsp;&nbsp;&nbsp;Series 2017-13, Class PA,<br> 3.000%, 08/25/2046 | 387684 | 365707 |
| &nbsp;&nbsp;&nbsp;Series 2017-23, Class FA (30 day Average SOFR + 0.514%),<br> 4.389%, 04/25/2047 (A) | 283029 | 280474 |
| &nbsp;&nbsp;&nbsp;Series 2017-24, Class PG,<br> 2.625%, 04/25/2047 | 998110 | 886285 |
| &nbsp;&nbsp;&nbsp;Series 2017-26, Class FA (30 day Average SOFR + 0.464%),<br> 4.339%, 04/25/2047 (A) | 642027 | 636086 |
| &nbsp;&nbsp;&nbsp;Series 2017-35, Class MC,<br> 2.625%, 12/25/2044 | 197899 | 193127 |
| &nbsp;&nbsp;&nbsp;Series 2017-82, Class FE (30 day Average SOFR + 0.364%),<br> 4.239%, 10/25/2047 (A) | 228402 | 226379 |
| &nbsp;&nbsp;&nbsp;Series 2017-9, Class BF (30 day Average SOFR + 0.514%),<br> 4.389%, 03/25/2047 (A) | 309875 | 307235 |
| &nbsp;&nbsp;&nbsp;Series 2017-9, Class DF (30 day Average SOFR + 0.514%),<br> 4.389%, 03/25/2047 (A) | 221973 | 220088 |
| &nbsp;&nbsp;&nbsp;Series 2017-9, Class EF (30 day Average SOFR + 0.514%),<br> 4.389%, 03/25/2047 (A) | 115008 | 114055 |
| &nbsp;&nbsp;&nbsp;Series 2017-96, Class FB (30 day Average SOFR + 0.414%),<br> 4.289%, 12/25/2047 (A) | 406288 | 400756 |
| &nbsp;&nbsp;&nbsp;Series 2018-1, Class FA (30 day Average SOFR + 0.364%),<br> 4.239%, 02/25/2048 (A) | 131339 | 129644 |
| &nbsp;&nbsp;&nbsp;Series 2018-14, Class KC,<br> 3.000%, 03/25/2048 | 599420 | 576367 |
| &nbsp;&nbsp;&nbsp;Series 2018-36, Class FD (30 day Average SOFR + 0.364%),<br> 4.239%, 06/25/2048 (A) | 526491 | 520425 |
| &nbsp;&nbsp;&nbsp;Series 2018-38, Class MA,<br> 3.300%, 06/25/2048 | 471736 | 454591 |
| &nbsp;&nbsp;&nbsp;Series 2018-45, Class TM,<br> 3.000%, 06/25/2048 | 381512 | 346551 |
| &nbsp;&nbsp;&nbsp;Series 2018-55, Class GA,<br> 3.375%, 08/25/2048 | 360481 | 348380 |
| &nbsp;&nbsp;&nbsp;Series 2018-64, Class A,<br> 3.000%, 09/25/2048 | 354348 | 319554 |
| &nbsp;&nbsp;&nbsp;Series 2018-85, Class EA,<br> 3.500%, 12/25/2048 | 263470 | 257523 |
| &nbsp;&nbsp;&nbsp;Series 2019-13, Class PE,<br> 3.000%, 03/25/2049 | 223555 | 205888 |
| &nbsp;&nbsp;&nbsp;Series 2019-15, Class FA (30 day Average SOFR + 0.614%),<br> 4.489%, 04/25/2049 (A) | 192653 | 189568 |
| &nbsp;&nbsp;&nbsp;Series 2019-25, Class PA,<br> 3.000%, 05/25/2048 | 588919 | 554567 |
| &nbsp;&nbsp;&nbsp;Series 2019-41, Class FG (30 day Average SOFR + 0.614%),<br> 4.489%, 08/25/2059 (A) | 493618 | 484340 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-43, Class FC (30 day Average SOFR + 0.514%),<br> 4.389%, 08/25/2049 (A) | $&nbsp;&nbsp;375435 | $&nbsp;&nbsp;&nbsp;&nbsp;369527 |
| &nbsp;&nbsp;&nbsp;Series 2019-67, Class FB (30 day Average SOFR + 0.564%),<br> 4.439%, 11/25/2049 (A) | &nbsp;&nbsp;209508 | &nbsp;&nbsp;&nbsp;&nbsp;206534 |
| &nbsp;&nbsp;&nbsp;Series 2019-81, Class LH,<br> 3.000%, 12/25/2049 | &nbsp;&nbsp;273320 | &nbsp;&nbsp;&nbsp;&nbsp;249498 |
| &nbsp;&nbsp;&nbsp;Series 2020-34, Class AG,<br> 2.000%, 06/25/2035 | &nbsp;&nbsp;721196 | &nbsp;&nbsp;&nbsp;&nbsp;690754 |
| &nbsp;&nbsp;&nbsp;Series 2020-48, Class AB,<br> 2.000%, 07/25/2050 | &nbsp;&nbsp;317860 | &nbsp;&nbsp;&nbsp;&nbsp;268120 |
| &nbsp;&nbsp;&nbsp;Series 2020-59, Class NC,<br> 3.000%, 08/25/2040 | &nbsp;&nbsp;417186 | &nbsp;&nbsp;&nbsp;&nbsp;393315 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class EC,<br> 1.500%, 05/25/2051 | 1371606 | 1126343 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class DW,<br> 2.000%, 06/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;93287 | &nbsp;&nbsp;&nbsp;&nbsp;83875 |
| &nbsp;&nbsp;&nbsp;Series 2021-78, Class ND,<br> 1.500%, 11/25/2051 | &nbsp;&nbsp;733459 | &nbsp;&nbsp;&nbsp;&nbsp;603153 |
| &nbsp;&nbsp;&nbsp;Series 2021-91, Class AB,<br> 2.500%, 09/25/2049 | &nbsp;&nbsp;475903 | &nbsp;&nbsp;&nbsp;&nbsp;430081 |
| &nbsp;&nbsp;&nbsp;Series 2021-95, Class CP,<br> 1.500%, 08/25/2051 | &nbsp;&nbsp;219535 | &nbsp;&nbsp;&nbsp;&nbsp;189598 |
| &nbsp;&nbsp;&nbsp;Series 2022-62, Class KA,<br> 3.250%, 09/25/2052 | &nbsp;&nbsp;282284 | &nbsp;&nbsp;&nbsp;&nbsp;266928 |
| &nbsp;&nbsp;&nbsp;Series 2022-89, Class AY,<br> 3.000%, 02/25/2048 | &nbsp;&nbsp;623000 | &nbsp;&nbsp;&nbsp;&nbsp;548335 |
| &nbsp;&nbsp;&nbsp;Series 2023-14, Class EJ,<br> 2.750%, 04/25/2049 | &nbsp;&nbsp;449864 | &nbsp;&nbsp;&nbsp;&nbsp;424286 |
| &nbsp;&nbsp;&nbsp;Series 2023-37, Class FH (30 day Average SOFR + 0.514%),<br> 4.389%, 01/25/2050 (A) | &nbsp;&nbsp;771787 | &nbsp;&nbsp;&nbsp;&nbsp;760568 |
| &nbsp;&nbsp;&nbsp;Series 2023-38, Class FC (30 day Average SOFR + 0.664%),<br> 4.539%, 06/25/2040 (A) | &nbsp;&nbsp;580041 | &nbsp;&nbsp;&nbsp;&nbsp;578176 |
| &nbsp;&nbsp;&nbsp;Series 2023-38, Class FD (30 day Average SOFR + 0.864%),<br> 4.936%, 10/25/2039 (A) | &nbsp;&nbsp;180781 | &nbsp;&nbsp;&nbsp;&nbsp;177193 |
| &nbsp;&nbsp;&nbsp;Series 2024-64, Class KY,<br> 3.000%, 12/25/2043 | &nbsp;&nbsp;303000 | &nbsp;&nbsp;&nbsp;&nbsp;262693 |
| &nbsp;&nbsp;&nbsp;Series 2025-95, Class FC (30 day Average SOFR + 0.700%),<br> 4.574%, 09/25/2052 (A) | 1226828 | 1218668 |
| &nbsp;&nbsp;&nbsp;Series 2025-98, Class PK,<br> 4.500%, 08/25/2054 | 4456507 | 4433863 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2010-163, Class NC,<br> 4.000%, 12/20/2040 | &nbsp;&nbsp;361325 | &nbsp;&nbsp;&nbsp;&nbsp;359343 |
| &nbsp;&nbsp;&nbsp;Series 2013-152, Class HA,<br> 2.500%, 06/20/2043 | &nbsp;&nbsp;414369 | &nbsp;&nbsp;&nbsp;&nbsp;387207 |
| &nbsp;&nbsp;&nbsp;Series 2014-133, Class BP,<br> 2.250%, 09/20/2044 | &nbsp;&nbsp;319639 | &nbsp;&nbsp;&nbsp;&nbsp;290225 |
| &nbsp;&nbsp;&nbsp;Series 2014-149, Class KP,<br> 2.250%, 07/16/2044 | &nbsp;&nbsp;275287 | &nbsp;&nbsp;&nbsp;&nbsp;255330 |
| &nbsp;&nbsp;&nbsp;Series 2014-181, Class L,<br> 3.000%, 12/20/2044 | &nbsp;&nbsp;293703 | &nbsp;&nbsp;&nbsp;&nbsp;268344 |
| &nbsp;&nbsp;&nbsp;Series 2015-144, Class CA,<br> 2.500%, 10/20/2045 | &nbsp;&nbsp;452288 | &nbsp;&nbsp;&nbsp;&nbsp;402956 |
| &nbsp;&nbsp;&nbsp;Series 2016-136, Class A,<br> 3.000%, 07/20/2044 | &nbsp;&nbsp;273336 | &nbsp;&nbsp;&nbsp;&nbsp;249852 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 28 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-93, Class AB,<br> 1.750%, 07/20/2044 | $&nbsp;&nbsp;591839 | $&nbsp;&nbsp;&nbsp;&nbsp;502800 |
| &nbsp;&nbsp;&nbsp;Series 2017-139, Class GA,<br> 3.000%, 09/20/2047 | 1045194 | &nbsp;&nbsp;&nbsp;&nbsp;953987 |
| &nbsp;&nbsp;&nbsp;Series 2017-167, Class BQ,<br> 2.500%, 08/20/2044 | &nbsp;&nbsp;318202 | &nbsp;&nbsp;&nbsp;&nbsp;302395 |
| &nbsp;&nbsp;&nbsp;Series 2018-65, Class DC,<br> 3.500%, 05/20/2048 | &nbsp;&nbsp;409251 | &nbsp;&nbsp;&nbsp;&nbsp;382967 |
| &nbsp;&nbsp;&nbsp;Series 2020-63, Class UD,<br> 1.750%, 04/20/2050 | &nbsp;&nbsp;286476 | &nbsp;&nbsp;&nbsp;&nbsp;237617 |
| &nbsp;&nbsp;&nbsp;Series 2021-105, Class P,<br> 1.750%, 06/20/2051 | 1407294 | 1159491 |
| &nbsp;&nbsp;&nbsp;Series 2021-107, Class DB,<br> 1.750%, 04/20/2051 | 1327217 | 1095430 |
| &nbsp;&nbsp;&nbsp;Series 2021-135, Class A,<br> 2.000%, 08/20/2051 | &nbsp;&nbsp;325660 | &nbsp;&nbsp;&nbsp;&nbsp;272547 |
| &nbsp;&nbsp;&nbsp;Series 2021-160, Class NE,<br> 2.000%, 09/20/2051 | 2482378 | 2128312 |
| &nbsp;&nbsp;&nbsp;Series 2021-215, Class GA,<br> 2.000%, 12/20/2051 | 2150406 | 1888525 |
| &nbsp;&nbsp;&nbsp;Series 2021-225, Class YC,<br> 2.000%, 12/20/2051 | &nbsp;&nbsp;255661 | &nbsp;&nbsp;&nbsp;&nbsp;220153 |
| &nbsp;&nbsp;&nbsp;Series 2021-24, Class BC,<br> 1.250%, 02/20/2051 | &nbsp;&nbsp;456376 | &nbsp;&nbsp;&nbsp;&nbsp;360469 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class BD,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;418856 | &nbsp;&nbsp;&nbsp;&nbsp;418142 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class CW,<br> 5.000%, 02/20/2051 (E) | &nbsp;&nbsp;530929 | &nbsp;&nbsp;&nbsp;&nbsp;530083 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class NT,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;421833 | &nbsp;&nbsp;&nbsp;&nbsp;416734 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class Q,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;376069 | &nbsp;&nbsp;&nbsp;&nbsp;375304 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class CY,<br> 5.000%, 01/20/2051 | &nbsp;&nbsp;370851 | &nbsp;&nbsp;&nbsp;&nbsp;370058 |
| &nbsp;&nbsp;&nbsp;Series 2021-89, Class LK,<br> 2.000%, 05/20/2051 | &nbsp;&nbsp;786339 | &nbsp;&nbsp;&nbsp;&nbsp;654357 |
| &nbsp;&nbsp;&nbsp;Series 2022-138, Class PT,<br> 2.500%, 10/20/2051 | 2068763 | 1755931 |
| &nbsp;&nbsp;&nbsp;Series 2022-153, Class KA,<br> 4.000%, 12/20/2049 | &nbsp;&nbsp;409665 | &nbsp;&nbsp;&nbsp;&nbsp;404916 |
| &nbsp;&nbsp;&nbsp;Series 2022-197, Class LF (30 day Average SOFR + 0.700%),<br> 4.618%, 11/20/2052 (A) | 1632585 | 1624891 |
| &nbsp;&nbsp;&nbsp;Series 2022-205, Class A,<br> 2.000%, 09/20/2051 | &nbsp;&nbsp;643395 | &nbsp;&nbsp;&nbsp;&nbsp;514692 |
| &nbsp;&nbsp;&nbsp;Series 2022-24, Class AH,<br> 2.500%, 02/20/2052 | &nbsp;&nbsp;139841 | &nbsp;&nbsp;&nbsp;&nbsp;120916 |
| &nbsp;&nbsp;&nbsp;Series 2022-31, Class GH,<br> 2.500%, 12/20/2049 | 1030581 | &nbsp;&nbsp;&nbsp;&nbsp;935516 |
| &nbsp;&nbsp;&nbsp;Series 2022-34, Class DN,<br> 3.500%, 09/20/2041 | &nbsp;&nbsp;820563 | &nbsp;&nbsp;&nbsp;&nbsp;791653 |
| &nbsp;&nbsp;&nbsp;Series 2022-46, Class LY,<br> 3.000%, 03/20/2052 | &nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;&nbsp;169208 |
| &nbsp;&nbsp;&nbsp;Series 2022-5, Class BA,<br> 2.000%, 10/20/2049 | 1643167 | 1443457 |
| &nbsp;&nbsp;&nbsp;Series 2022-50, Class CA,<br> 3.000%, 03/20/2052 | 1463143 | 1326120 |
| &nbsp;&nbsp;&nbsp;Series 2022-66, Class CG,<br> 3.500%, 04/20/2052 | &nbsp;&nbsp;889785 | &nbsp;&nbsp;&nbsp;&nbsp;854575 |
| &nbsp;&nbsp;&nbsp;Series 2022-78, Class HW,<br> 2.500%, 04/20/2052 | &nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;280972 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-84, Class A,<br> 2.500%, 01/20/2052 | &nbsp;&nbsp;510321 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432743 |
| &nbsp;&nbsp;&nbsp;Series 2022-9, Class GA,<br> 2.000%, 01/20/2052 | &nbsp;&nbsp;376644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314791 |
| &nbsp;&nbsp;&nbsp;Series 2023-81, Class YJ,<br> 3.500%, 06/20/2053 | 1780000 | &nbsp;&nbsp;&nbsp;&nbsp;1562561 |
| &nbsp;&nbsp;&nbsp;Series 2024-110, Class JC,<br> 3.000%, 09/20/2047 | 2416245 | &nbsp;&nbsp;&nbsp;&nbsp;2314851 |
| &nbsp;&nbsp;&nbsp;Series 2024-110, Class JL,<br> 3.000%, 10/20/2049 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470011 |
| &nbsp;&nbsp;&nbsp;Series 2024-45, Class BD,<br> 2.000%, 03/20/2054 | &nbsp;&nbsp;331710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308265 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class GC,<br> 3.500%, 10/20/2051 | 6081776 | &nbsp;&nbsp;&nbsp;&nbsp;5880580 |
| &nbsp;&nbsp;&nbsp;Series 2025-7, Class EL,<br> 2.500%, 01/20/2055 | &nbsp;&nbsp;233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167322 |
|  |  | 100536341 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $112,974,309) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $112,974,309) | $112501817 |
| **ASSET-BACKED SECURITIES – 6.7%** | **ASSET-BACKED SECURITIES – 6.7%** |  |
| Ally Auto Receivables Trust<br> Series 2022-3, Class A4<br> 5.070%, 10/16/2028 | &nbsp;&nbsp;331000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332186 |
| American Express Credit Account<br> Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-4, Class A<br> 5.150%, 09/16/2030 | &nbsp;&nbsp;772000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797873 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A<br> 4.280%, 04/15/2030 | &nbsp;&nbsp;551000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557289 |
| &nbsp;&nbsp;&nbsp;Series 2025-4, Class A<br> 4.300%, 07/15/2030 | 1034000 | &nbsp;&nbsp;&nbsp;&nbsp;1047414 |
| AmeriCredit Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A3<br> 5.620%, 11/18/2027 | &nbsp;&nbsp;&nbsp;&nbsp;89745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90011 |
| &nbsp;&nbsp;&nbsp;Series 2023-2, Class A3<br> 5.810%, 05/18/2028 | &nbsp;&nbsp;428054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430890 |
| AutoNation Finance Trust<br> Series 2025-1A, Class A3<br> 4.620%, 11/13/2029 (C) | &nbsp;&nbsp;518000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522746 |
| Barclays Dryrock Issuance Trust<br> Series 2025-1, Class A<br> 3.970%, 07/15/2031 | 1205000 | &nbsp;&nbsp;&nbsp;&nbsp;1207061 |
| Capital One Multi-Asset Execution Trust<br> Series 2025-A2, Class A<br> 4.020%, 09/15/2032 | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269054 |
| Capital One Prime Auto<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A3<br> 3.850%, 07/15/2030 | &nbsp;&nbsp;472000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472220 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A4<br> 3.920%, 02/18/2031 | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464398 |
| CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A3<br> 4.480%, 03/15/2030 | 1223000 | &nbsp;&nbsp;&nbsp;&nbsp;1236308 |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A3<br> 4.350%, 07/15/2030 | &nbsp;&nbsp;729000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735286 |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A4<br> 4.470%, 01/15/2031 | &nbsp;&nbsp;494000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500019 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 29 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Chase Auto Owner Trust<br> Series 2022-AA, Class A4<br> 3.990%, 03/27/2028 (C) | $&nbsp;&nbsp;394228 | $&nbsp;&nbsp;&nbsp;&nbsp;394109 |
| College Ave Student Loans LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-A, Class A1 (1 month CME Term SOFR + 1.764%)<br> 5.496%, 11/26/2046 (A)(C) | &nbsp;&nbsp;163314 | &nbsp;&nbsp;&nbsp;&nbsp;164731 |
| &nbsp;&nbsp;&nbsp;Series 2018-A, Class A2<br> 4.130%, 12/26/2047 (C) | &nbsp;&nbsp;126512 | &nbsp;&nbsp;&nbsp;&nbsp;125006 |
| &nbsp;&nbsp;&nbsp;Series 2019-A, Class A2<br> 3.280%, 12/28/2048 (C) | &nbsp;&nbsp;236762 | &nbsp;&nbsp;&nbsp;&nbsp;227677 |
| Ford Credit Auto Lease Trust<br> Series 2024-A, Class A4<br> 5.050%, 06/15/2027 | &nbsp;&nbsp;303000 | &nbsp;&nbsp;&nbsp;&nbsp;304284 |
| Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A<br> 3.880%, 11/15/2034 (C) | 1005000 | 1005106 |
| &nbsp;&nbsp;&nbsp;Series 2022-D, Class A4<br> 5.300%, 03/15/2028 | &nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;301375 |
| &nbsp;&nbsp;&nbsp;Series 2024-D, Class A3<br> 4.610%, 08/15/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;303300 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A (4.860% to 2-15-30, then 9.710% thereafter)<br> 4.860%, 08/15/2037 (C) | &nbsp;&nbsp;958000 | &nbsp;&nbsp;&nbsp;&nbsp;984486 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A (4.370% to 8-15-30, then 8.750% thereafter)<br> 4.370%, 02/15/2038 (C) | &nbsp;&nbsp;457000 | &nbsp;&nbsp;&nbsp;&nbsp;460766 |
| Ford Credit Floorplan Master<br> Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A1<br> 4.300%, 09/15/2029 (C) | 1688000 | 1701614 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A1<br> 4.630%, 04/15/2030 | 1276000 | 1297187 |
| GM Financial Automobile Leasing Trust<br> Series 2023-3, Class A4<br> 5.440%, 08/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;48132 | &nbsp;&nbsp;&nbsp;&nbsp;48155 |
| GM Financial Consumer Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-4, Class A3<br> 3.840%, 02/18/2031 | &nbsp;&nbsp;418000 | &nbsp;&nbsp;&nbsp;&nbsp;418334 |
| &nbsp;&nbsp;&nbsp;Series 2025-4, Class A4<br> 3.930%, 04/16/2032 | &nbsp;&nbsp;159000 | &nbsp;&nbsp;&nbsp;&nbsp;158865 |
| GM Financial Revolving<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A<br> 4.980%, 12/11/2036 (C) | &nbsp;&nbsp;426000 | &nbsp;&nbsp;&nbsp;&nbsp;438086 |
| &nbsp;&nbsp;&nbsp;Series 2024-2, Class A<br> 4.520%, 03/11/2037 (C) | &nbsp;&nbsp;424000 | &nbsp;&nbsp;&nbsp;&nbsp;430911 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A<br> 4.640%, 12/11/2037 (C) | 1271000 | 1296011 |
| GMF Floorplan Owner Revolving Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-4A, Class A1<br> 4.730%, 11/15/2029 (C) | 1016000 | 1029934 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A<br> 4.640%, 03/15/2030 (C) | 1367000 | 1386348 |
| Honda Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A4<br> 4.100%, 11/21/2031 | &nbsp;&nbsp;712000 | &nbsp;&nbsp;&nbsp;&nbsp;715670 |
| &nbsp;&nbsp;&nbsp;Series 2025-4, Class A3<br> 3.980%, 06/17/2030 | &nbsp;&nbsp;753000 | &nbsp;&nbsp;&nbsp;&nbsp;756998 |
| Hyundai Auto Lease Securitization Trust<br> Series 2025-B, Class A3<br> 4.530%, 04/17/2028 (C) | 1021000 | 1030219 |
| Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A4<br> 2.350%, 04/17/2028 | &nbsp;&nbsp;118921 | &nbsp;&nbsp;&nbsp;&nbsp;118719 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Hyundai Auto<br> Receivables Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class A4<br> 4.480%, 07/17/2028 | $&nbsp;&nbsp;599000 | $&nbsp;&nbsp;&nbsp;&nbsp;600813 |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class A3<br> 5.480%, 04/17/2028 | &nbsp;&nbsp;177431 | &nbsp;&nbsp;&nbsp;&nbsp;178675 |
| Mercedes-Benz Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A4<br> 5.250%, 02/15/2029 | &nbsp;&nbsp;693000 | &nbsp;&nbsp;&nbsp;&nbsp;700040 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A3<br> 4.780%, 12/17/2029 | &nbsp;&nbsp;594000 | &nbsp;&nbsp;&nbsp;&nbsp;602597 |
| Navient Private Education Refi<br> Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-DA, Class A2A<br> 4.000%, 12/15/2059 (C) | &nbsp;&nbsp;209497 | &nbsp;&nbsp;&nbsp;&nbsp;208495 |
| &nbsp;&nbsp;&nbsp;Series 2019-CA, Class A2<br> 3.130%, 02/15/2068 (C) | &nbsp;&nbsp;&nbsp;&nbsp;94646 | &nbsp;&nbsp;&nbsp;&nbsp;93698 |
| &nbsp;&nbsp;&nbsp;Series 2019-D, Class A2A<br> 3.010%, 12/15/2059 (C) | &nbsp;&nbsp;553368 | &nbsp;&nbsp;&nbsp;&nbsp;540724 |
| &nbsp;&nbsp;&nbsp;Series 2019-FA, Class A2<br> 2.600%, 08/15/2068 (C) | &nbsp;&nbsp;282758 | &nbsp;&nbsp;&nbsp;&nbsp;273635 |
| &nbsp;&nbsp;&nbsp;Series 2020-EA, Class A<br> 1.690%, 05/15/2069 (C) | &nbsp;&nbsp;&nbsp;&nbsp;52282 | &nbsp;&nbsp;&nbsp;&nbsp;49374 |
| &nbsp;&nbsp;&nbsp;Series 2020-GA, Class A<br> 1.170%, 09/16/2069 (C) | &nbsp;&nbsp;203869 | &nbsp;&nbsp;&nbsp;&nbsp;192417 |
| &nbsp;&nbsp;&nbsp;Series 2021-BA, Class A<br> 0.940%, 07/15/2069 (C) | &nbsp;&nbsp;136609 | &nbsp;&nbsp;&nbsp;&nbsp;125154 |
| &nbsp;&nbsp;&nbsp;Series 2021-CA, Class A<br> 1.060%, 10/15/2069 (C) | &nbsp;&nbsp;490531 | &nbsp;&nbsp;&nbsp;&nbsp;449825 |
| &nbsp;&nbsp;&nbsp;Series 2021-EA, Class A<br> 0.970%, 12/16/2069 (C) | &nbsp;&nbsp;833405 | &nbsp;&nbsp;&nbsp;&nbsp;751643 |
| &nbsp;&nbsp;&nbsp;Series 2021-FA, Class A<br> 1.110%, 02/18/2070 (C) | &nbsp;&nbsp;541938 | &nbsp;&nbsp;&nbsp;&nbsp;483149 |
| &nbsp;&nbsp;&nbsp;Series 2021-GA, Class A<br> 1.580%, 04/15/2070 (C) | &nbsp;&nbsp;135269 | &nbsp;&nbsp;&nbsp;&nbsp;122873 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A<br> 2.230%, 07/15/2070 (C) | 1367909 | 1253108 |
| Navient Refinance Loan Trust<br> Series 2025-C, Class A<br> 4.800%, 10/15/2055 (C) | &nbsp;&nbsp;669979 | &nbsp;&nbsp;&nbsp;&nbsp;671284 |
| Navient Student Loan Trust<br> Series 2021-3A, Class A1A<br> 1.770%, 08/25/2070 (C) | &nbsp;&nbsp;593776 | &nbsp;&nbsp;&nbsp;&nbsp;523120 |
| Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2004-4, Class A5 (90 day Average SOFR + 0.422%)<br> 4.735%, 01/25/2037 (A) | &nbsp;&nbsp;149474 | &nbsp;&nbsp;&nbsp;&nbsp;149181 |
| &nbsp;&nbsp;&nbsp;Series 2005-1, Class A5 (90 day Average SOFR + 0.372%)<br> 4.685%, 10/25/2033 (A) | &nbsp;&nbsp;835060 | &nbsp;&nbsp;&nbsp;&nbsp;829273 |
| &nbsp;&nbsp;&nbsp;Series 2005-2, Class A5 (90 day Average SOFR + 0.362%)<br> 4.439%, 03/23/2037 (A) | &nbsp;&nbsp;770568 | &nbsp;&nbsp;&nbsp;&nbsp;765137 |
| &nbsp;&nbsp;&nbsp;Series 2005-3, Class A5 (90 day Average SOFR + 0.382%)<br> 4.459%, 12/24/2035 (A) | &nbsp;&nbsp;505682 | &nbsp;&nbsp;&nbsp;&nbsp;502716 |
| Nissan Auto Receivables Owner Trust<br> Series 2022-B, Class A4<br> 4.450%, 11/15/2029 | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;416786 |
| Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A3<br> 5.630%, 01/16/2029 | &nbsp;&nbsp;366458 | &nbsp;&nbsp;&nbsp;&nbsp;367922 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A3<br> 4.670%, 08/15/2029 | &nbsp;&nbsp;661000 | &nbsp;&nbsp;&nbsp;&nbsp;664620 |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A3<br> 4.380%, 01/15/2030 | &nbsp;&nbsp;799000 | &nbsp;&nbsp;&nbsp;&nbsp;802824 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 30 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| SBNA Auto Lease Trust<br> Series 2024-C, Class A4<br> 4.420%, 03/20/2029 (C) | $&nbsp;&nbsp;389000 | $&nbsp;&nbsp;&nbsp;&nbsp;391089 |
| SBNA Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A3<br> 5.320%, 12/15/2028 (C) | &nbsp;&nbsp;177881 | &nbsp;&nbsp;&nbsp;&nbsp;178496 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A4<br> 5.210%, 04/16/2029 (C) | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;176498 |
| SFS Auto Receivables<br> Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A3<br> 4.950%, 05/21/2029 (C) | &nbsp;&nbsp;668987 | &nbsp;&nbsp;&nbsp;&nbsp;673084 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A4<br> 4.940%, 01/21/2031 (C) | &nbsp;&nbsp;153000 | &nbsp;&nbsp;&nbsp;&nbsp;155366 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A3<br> 5.330%, 11/20/2029 (C) | &nbsp;&nbsp;531227 | &nbsp;&nbsp;&nbsp;&nbsp;536963 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A4<br> 4.580%, 05/20/2031 (C) | &nbsp;&nbsp;484000 | &nbsp;&nbsp;&nbsp;&nbsp;490506 |
| &nbsp;&nbsp;&nbsp;Series 2025-3A, Class A3<br> 4.120%, 04/21/2031 (C) | &nbsp;&nbsp;776000 | &nbsp;&nbsp;&nbsp;&nbsp;779350 |
| SMB Private Education Loan Trust<br> Series 2021-A, Class APT1<br> 1.070%, 01/15/2053 (C) | &nbsp;&nbsp;752326 | &nbsp;&nbsp;&nbsp;&nbsp;690530 |
| SoFi Professional Loan Program LLC<br> Series 2021-B, Class AFX<br> 1.140%, 02/15/2047 (C) | &nbsp;&nbsp;430427 | &nbsp;&nbsp;&nbsp;&nbsp;377034 |
| Stellantis Financial Underwritten Enhanced Lease Trust<br> Series 2025-CA, Class A3<br> 4.110%, 04/20/2029 (C) | &nbsp;&nbsp;806000 | &nbsp;&nbsp;&nbsp;&nbsp;807158 |
| Synchrony Card Funding LLC<br> Series 2025-A2, Class A<br> 4.490%, 05/15/2031 | &nbsp;&nbsp;694000 | &nbsp;&nbsp;&nbsp;&nbsp;704103 |
| Synchrony Card Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-A1, Class A<br> 4.780%, 02/15/2031 | &nbsp;&nbsp;927000 | &nbsp;&nbsp;&nbsp;&nbsp;942853 |
| &nbsp;&nbsp;&nbsp;Series 2025-A3, Class A<br> 4.060%, 11/15/2031 | 1475000 | 1481921 |
| T-Mobile US Trust<br> Series 2024-2A, Class A<br> 4.250%, 05/21/2029 (C) | 1769000 | 1777409 |
| Toyota Auto Receivables Owner Trust<br> Series 2022-D, Class A4<br> 5.430%, 04/17/2028 | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;384091 |
| USB Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A3<br> 4.490%, 06/17/2030 (C) | &nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;594798 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A4<br> 4.620%, 12/16/2030 (C) | &nbsp;&nbsp;176000 | &nbsp;&nbsp;&nbsp;&nbsp;178808 |
| Verizon Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-7, Class A<br> 4.350%, 08/20/2032 (C) | 1456000 | 1468095 |
| &nbsp;&nbsp;&nbsp;Series 2025-10, Class A<br> 4.280%, 10/20/2033 (C) | &nbsp;&nbsp;872000 | &nbsp;&nbsp;&nbsp;&nbsp;874707 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A<br> 4.940%, 01/20/2033 (C) | 1557000 | 1603368 |
| &nbsp;&nbsp;&nbsp;Series 2025-4, Class A<br> 4.760%, 03/21/2033 (C) | &nbsp;&nbsp;988000 | 1011338 |
| Volkswagen Auto Loan Enhanced Trust<br> Series 2024-1, Class A3<br> 4.630%, 07/20/2029 | &nbsp;&nbsp;387000 | &nbsp;&nbsp;&nbsp;&nbsp;391796 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| World Financial Network Credit Card Master Trust<br> Series 2024-A, Class A<br> 5.470%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;202000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205988 |
| World Omni Auto Receivables Trust<br> Series 2025-C, Class A4<br> 4.190%, 11/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp;438000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441143 |
| TOTAL ASSET-BACKED SECURITIES (Cost $53,512,390) |  | $&nbsp;&nbsp;53396221 |
| **SHORT-TERM INVESTMENTS – 3.4%** | **SHORT-TERM INVESTMENTS – 3.4%** |  |
| **Short-term funds – 3.4%** |  |  |
| John Hancock Collateral Trust, 3.7477% (F)(G) | &nbsp;&nbsp;&nbsp;&nbsp;201889 | &nbsp;&nbsp;&nbsp;&nbsp;2019734 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 3.7239% (F) | 25088214 | &nbsp;&nbsp;&nbsp;25088214 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $27,107,934) | TOTAL SHORT-TERM INVESTMENTS (Cost $27,107,934) | $&nbsp;&nbsp;&nbsp;27107948 |
| **Total Investments (Core Bond Trust)<br> (Cost $825,520,707) – 103.0%** | **Total Investments (Core Bond Trust)<br> (Cost $825,520,707) – 103.0%** | $**822637753** |
| **Other assets and liabilities, net – (3.0%)** |  | **(23702814)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**798934939** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| IBOR | Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | Security purchased or sold on a when-issued or delayed-delivery basis. |
| (C) | This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (D) | All or a portion of this security is on loan as of 12-31-25. |
| (E) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (F) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (G) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### High Yield Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS – 94.2%** | **CORPORATE BONDS – 94.2%** |  |
| **Communication services – 16.2%** |  |  |
| Altice Financing SA |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 08/15/2029 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324455 |
| &nbsp;&nbsp;&nbsp;9.625%, 07/15/2027 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467390 |
| Altice France Lux 3<br> 10.000%, 01/15/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109635 |
| Altice France Lux 3, Zero Coupon<br> 0.000%, (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 31 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 07/15/2032 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340497 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326516 |
| &nbsp;&nbsp;&nbsp;9.500%, 11/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347029 |
| AMC Entertainment Holdings, Inc.<br> 7.500%, 02/15/2029 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182862 |
| ANGI Group LLC<br> 3.875%, 08/15/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338056 |
| APLD ComputeCo LLC<br> 9.250%, 12/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287404 |
| Arches Buyer, Inc.<br> 6.125%, 12/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41946 |
| Cars.com, Inc.<br> 6.375%, 11/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135035 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437373 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933038 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/01/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347522 |
| &nbsp;&nbsp;&nbsp;5.375%, 06/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1198328 |
| &nbsp;&nbsp;&nbsp;6.375%, 09/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642715 |
| &nbsp;&nbsp;&nbsp;7.375%, 03/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871496 |
| Cinemark USA, Inc.<br> 7.000%, 08/01/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129713 |
| Cipher Compute LLC<br> 7.125%, 11/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127310 |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, 02/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181156 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90359 |
| &nbsp;&nbsp;&nbsp;7.750%, 04/15/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87064 |
| Connect Finco SARL<br> 9.000%, 09/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211087 |
| Connect Holding II LLC<br> 10.500%, 04/03/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82428 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 12/01/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71438 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419502 |
| CSC Holdings LLC<br> 11.750%, 01/31/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416051 |
| Directv Financing LLC<br> 10.000%, 02/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799244 |
| DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 06/01/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201463 |
| &nbsp;&nbsp;&nbsp;5.250%, 12/01/2026 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255044 |
| &nbsp;&nbsp;&nbsp;5.750%, 12/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223840 |
| DISH Network Corp.<br> 11.750%, 11/15/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802441 |
| Frontier Florida LLC<br> 6.860%, 02/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414344 |
| GCI LLC<br> 4.750%, 10/15/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939184 |
| Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 10/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118673 |
| &nbsp;&nbsp;&nbsp;5.375%, 11/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65239 |
| &nbsp;&nbsp;&nbsp;7.250%, 08/15/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177798 |
| &nbsp;&nbsp;&nbsp;9.625%, 07/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81984 |
| &nbsp;&nbsp;&nbsp;10.500%, 07/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202164 |
| iHeartCommunications, Inc.<br> 10.875%, 05/01/2030 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359478 |
| Iliad Holding SAS<br> 7.000%, 04/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348361 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 07/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52810 |
| &nbsp;&nbsp;&nbsp;4.875%, 06/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51543 |
| &nbsp;&nbsp;&nbsp;6.875%, 06/30/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063186 |
| &nbsp;&nbsp;&nbsp;7.000%, 03/31/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702850 |
| &nbsp;&nbsp;&nbsp;8.500%, 01/15/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71679 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| Light & Wonder International, Inc.<br> 6.250%, 10/01/2033 (A) | $&nbsp;&nbsp;558000 | $&nbsp;&nbsp;&nbsp;&nbsp;564918 |
| Live Nation Entertainment, Inc.<br> 4.750%, 10/15/2027 (A) | &nbsp;&nbsp;392000 | &nbsp;&nbsp;&nbsp;&nbsp;392799 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 02/15/2029 (A) | &nbsp;&nbsp;618000 | &nbsp;&nbsp;&nbsp;&nbsp;619889 |
| &nbsp;&nbsp;&nbsp;6.125%, 09/15/2033 (A) | &nbsp;&nbsp;508000 | &nbsp;&nbsp;&nbsp;&nbsp;514083 |
| McClatchy Media Company LLC<br> 11.000%, (11.000% Cash or 12.500% PIK), 12/01/2031 (A) | 1723133 | &nbsp;&nbsp;&nbsp;1951440 |
| Neptune Bidco US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.290%, 04/15/2029 (A) | &nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;185316 |
| &nbsp;&nbsp;&nbsp;10.375%, 05/15/2031 (A) | &nbsp;&nbsp;411000 | &nbsp;&nbsp;&nbsp;&nbsp;421415 |
| Playtika Holding Corp.<br> 4.250%, 03/15/2029 (A) | &nbsp;&nbsp;879000 | &nbsp;&nbsp;&nbsp;&nbsp;788254 |
| ROBLOX Corp.<br> 3.875%, 05/01/2030 (A) | &nbsp;&nbsp;501000 | &nbsp;&nbsp;&nbsp;&nbsp;478994 |
| Scripps Escrow II, Inc.<br> 5.375%, 01/15/2031 (A) | &nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86901 |
| Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2028 (A) | &nbsp;&nbsp;772000 | &nbsp;&nbsp;&nbsp;&nbsp;754681 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/01/2029 (A) | &nbsp;&nbsp;646000 | &nbsp;&nbsp;&nbsp;&nbsp;651286 |
| Snap, Inc.<br> 6.875%, 03/01/2033 (A) | &nbsp;&nbsp;498000 | &nbsp;&nbsp;&nbsp;&nbsp;516050 |
| SoftBank Group Corp.<br> 6.875%, (6.875% to 7-19-27, then 5 Year SOFR Spread-Adjusted ICE Swap Rate + 4.854% to 7-19-42, then 5 Year SOFR Spread-Adjusted ICE Swap Rate + 5.604%), 07/19/2027 (D) | &nbsp;&nbsp;728000 | &nbsp;&nbsp;&nbsp;&nbsp;710414 |
| Stagwell Global LLC<br> 5.625%, 08/15/2029 (A) | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;628970 |
| The EW Scripps Company<br> 9.875%, 08/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67911 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.500%, 07/31/2031 (A) | &nbsp;&nbsp;712000 | &nbsp;&nbsp;&nbsp;&nbsp;743776 |
| &nbsp;&nbsp;&nbsp;9.375%, 08/01/2032 (A) | &nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;198840 |
| Versant Media Group, Inc.<br> 7.250%, 01/30/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83567 |
| Virgin Media Finance PLC<br> 5.000%, 07/15/2030 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;379091 |
| Virgin Media Secured Finance PLC<br> 5.500%, 05/15/2029 (A) | &nbsp;&nbsp;652000 | &nbsp;&nbsp;&nbsp;&nbsp;642322 |
| WarnerMedia Holdings, Inc.<br> 4.279%, 03/15/2032 | 1572000 | &nbsp;&nbsp;&nbsp;1379933 |
| Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 10/15/2033 (A) | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;287030 |
| &nbsp;&nbsp;&nbsp;8.250%, 10/01/2031 (A) | &nbsp;&nbsp;338000 | &nbsp;&nbsp;&nbsp;&nbsp;354822 |
| ZipRecruiter, Inc.<br> 5.000%, 01/15/2030 (A) | &nbsp;&nbsp;697000 | &nbsp;&nbsp;&nbsp;&nbsp;547265 |
|  |  | 29688280 |
| **Consumer discretionary – 14.3%** |  |  |
| Affinity Interactive<br> 6.875%, 12/15/2027 (A) | &nbsp;&nbsp;669000 | &nbsp;&nbsp;&nbsp;&nbsp;396470 |
| Amer Sports Company<br> 6.750%, 02/16/2031 (A) | &nbsp;&nbsp;258000 | &nbsp;&nbsp;&nbsp;&nbsp;270412 |
| American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 10/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70274 |
| &nbsp;&nbsp;&nbsp;7.750%, 10/15/2033 (A) | &nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;283165 |
| Asbury Automotive Group, Inc.<br> 5.000%, 02/15/2032 (A) | &nbsp;&nbsp;684000 | &nbsp;&nbsp;&nbsp;&nbsp;664710 |
| Beach Acquisition Bidco LLC<br> 10.000%, (10.000% Cash or 10.750% PIK), 07/15/2033 (A) | &nbsp;&nbsp;284000 | &nbsp;&nbsp;&nbsp;&nbsp;313474 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 32 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Boyd Gaming Corp.<br> 4.750%, 06/15/2031 (A) | $&nbsp;&nbsp;389000 | $&nbsp;&nbsp;&nbsp;&nbsp;380048 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2032 (A) | 1631000 | 1670837 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/15/2030 (A) | &nbsp;&nbsp;983000 | 1018051 |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 05/01/2029 (A) | &nbsp;&nbsp;152000 | &nbsp;&nbsp;&nbsp;&nbsp;153686 |
| &nbsp;&nbsp;&nbsp;5.875%, 06/15/2031 (A) | &nbsp;&nbsp;546000 | &nbsp;&nbsp;&nbsp;&nbsp;563966 |
| Choice Hotels International, Inc.<br> 5.850%, 08/01/2034 | &nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;739182 |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 05/15/2028 (A) | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;456292 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/15/2032 (A) | &nbsp;&nbsp;137000 | &nbsp;&nbsp;&nbsp;&nbsp;142068 |
| Dealer Tire LLC<br> 8.000%, 02/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;43034 |
| Fontainebleau Las Vegas Holdings LLC<br> 11.000%, 06/15/2015 (A)(E) | 3600425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 |
| Full House Resorts, Inc.<br> 8.250%, 02/15/2028 (A)(B) | &nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;471731 |
| Graham Holdings Company<br> 5.625%, 12/01/2033 (A) | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;176683 |
| Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 08/15/2028 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;460704 |
| &nbsp;&nbsp;&nbsp;6.375%, 01/15/2030 (A) | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;276799 |
| Hilton Grand Vacations Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 07/01/2031 (A) | &nbsp;&nbsp;122000 | &nbsp;&nbsp;&nbsp;&nbsp;113890 |
| &nbsp;&nbsp;&nbsp;6.625%, 01/15/2032 (A) | &nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;773865 |
| Jacobs Entertainment, Inc.<br> 6.750%, 02/15/2029 (A) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;254761 |
| KB Home |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 06/15/2031 | &nbsp;&nbsp;603000 | &nbsp;&nbsp;&nbsp;&nbsp;571051 |
| &nbsp;&nbsp;&nbsp;7.250%, 07/15/2030 | &nbsp;&nbsp;286000 | &nbsp;&nbsp;&nbsp;&nbsp;295444 |
| Kohl's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 05/01/2031 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;211110 |
| &nbsp;&nbsp;&nbsp;10.000%, 06/01/2030 (A) | &nbsp;&nbsp;476000 | &nbsp;&nbsp;&nbsp;&nbsp;524201 |
| Liberty Interactive LLC<br> 8.250%, 02/01/2030 | 1088000 | &nbsp;&nbsp;&nbsp;&nbsp;59840 |
| Lindblad Expeditions LLC<br> 7.000%, 09/15/2030 (A) | &nbsp;&nbsp;186000 | &nbsp;&nbsp;&nbsp;&nbsp;194031 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 06/01/2029 (A) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;526975 |
| &nbsp;&nbsp;&nbsp;4.375%, 01/15/2031 (A) | &nbsp;&nbsp;196000 | &nbsp;&nbsp;&nbsp;&nbsp;188372 |
| Macy's Retail Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 03/15/2030 (A) | &nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;183927 |
| &nbsp;&nbsp;&nbsp;7.375%, 08/01/2033 (A) | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;395364 |
| Marriott Ownership Resorts, Inc.<br> 4.500%, 06/15/2029 (A) | &nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;740441 |
| Mavis Tire Express Services Topco Corp.<br> 6.500%, 05/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;&nbsp;62375 |
| Midwest Gaming Borrower LLC<br> 4.875%, 05/01/2029 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;344271 |
| New Red Finance, Inc.<br> 3.875%, 01/15/2028 (A) | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;552021 |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 09/15/2027 | &nbsp;&nbsp;709000 | &nbsp;&nbsp;&nbsp;&nbsp;712861 |
| &nbsp;&nbsp;&nbsp;8.500%, 06/01/2028 (A) | &nbsp;&nbsp;917000 | &nbsp;&nbsp;&nbsp;&nbsp;961523 |
| Nissan Motor Acceptance Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 09/29/2028 (A) | &nbsp;&nbsp;351000 | &nbsp;&nbsp;&nbsp;&nbsp;351989 |
| &nbsp;&nbsp;&nbsp;7.050%, 09/15/2028 (A) | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;460234 |
| Nissan Motor Company, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 07/17/2030 (A) | &nbsp;&nbsp;431000 | &nbsp;&nbsp;&nbsp;&nbsp;452264 |
| &nbsp;&nbsp;&nbsp;7.750%, 07/17/2032 (A) | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;217753 |
| Nordstrom, Inc.<br> 4.250%, 08/01/2031 (B) | &nbsp;&nbsp;521000 | &nbsp;&nbsp;&nbsp;&nbsp;483143 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| PetSmart LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 09/15/2032 (A) | $&nbsp;&nbsp;433000 | $&nbsp;&nbsp;&nbsp;&nbsp;440657 |
| &nbsp;&nbsp;&nbsp;10.000%, 09/15/2033 (A) | &nbsp;&nbsp;273000 | &nbsp;&nbsp;&nbsp;&nbsp;281102 |
| QVC, Inc.<br> 6.875%, 04/15/2029 (A) | &nbsp;&nbsp;534000 | &nbsp;&nbsp;&nbsp;&nbsp;230955 |
| Rakuten Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 4-22-31, then 5 Year CMT + 4.956% to 4-22-51, then 5 Year CMT + 5.706%), 04/22/2031 (A)(B)(D) | &nbsp;&nbsp;244000 | &nbsp;&nbsp;&nbsp;&nbsp;232891 |
| &nbsp;&nbsp;&nbsp;8.125%, (8.125% to 12-15-29, then 5 Year CMT + 4.250%), 12/15/2029 (A)(D) | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;226594 |
| &nbsp;&nbsp;&nbsp;11.250%, 02/15/2027 (A) | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;406296 |
| Resorts World Las Vegas LLC<br> 8.450%, 07/27/2030 (A) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;594585 |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;10.750%, 11/15/2029 (A) | &nbsp;&nbsp;207000 | &nbsp;&nbsp;&nbsp;&nbsp;176018 |
| &nbsp;&nbsp;&nbsp;10.750%, 03/15/2030 (A) | &nbsp;&nbsp;328600 | &nbsp;&nbsp;&nbsp;&nbsp;270218 |
| &nbsp;&nbsp;&nbsp;11.125%, 07/15/2030 (A) | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;374740 |
| Saks Global Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;11.000%, 12/15/2029 (A) | &nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 |
| &nbsp;&nbsp;&nbsp;11.000%, 12/15/2029 (A) | &nbsp;&nbsp;236000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14160 |
| SGUS LLC<br> 11.000%, 12/15/2029 (A) | &nbsp;&nbsp;152327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56361 |
| Sotheby's<br> 7.375%, 10/15/2027 (A) | &nbsp;&nbsp;633000 | &nbsp;&nbsp;&nbsp;&nbsp;629295 |
| Staples, Inc.<br> 12.750%, 01/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58734 |
| Taylor Morrison Communities, Inc.<br> 5.750%, 11/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78196 |
| The Goodyear Tire & Rubber Company |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 07/15/2029 (B) | &nbsp;&nbsp;236000 | &nbsp;&nbsp;&nbsp;&nbsp;233181 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/2031 | &nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;143240 |
| The Michaels Companies, Inc.<br> 7.875%, 05/01/2029 (A)(B) | &nbsp;&nbsp;167000 | &nbsp;&nbsp;&nbsp;&nbsp;154157 |
| Valvoline, Inc.<br> 3.625%, 06/15/2031 (A) | &nbsp;&nbsp;314000 | &nbsp;&nbsp;&nbsp;&nbsp;288534 |
| Wand NewCo 3, Inc.<br> 7.625%, 01/30/2032 (A) | &nbsp;&nbsp;297000 | &nbsp;&nbsp;&nbsp;&nbsp;314323 |
| Wayfair LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.250%, 10/31/2029 (A) | &nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;121066 |
| &nbsp;&nbsp;&nbsp;7.750%, 09/15/2030 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;500767 |
| Whirlpool Corp.<br> 6.125%, 06/15/2030 | &nbsp;&nbsp;537000 | &nbsp;&nbsp;&nbsp;&nbsp;536347 |
| Wyndham Hotels & Resorts, Inc.<br> 4.375%, 08/15/2028 (A) | &nbsp;&nbsp;181000 | &nbsp;&nbsp;&nbsp;&nbsp;178491 |
| ZF North America Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/23/2030 (A) | &nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;548435 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/14/2028 (A) | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;561223 |
| &nbsp;&nbsp;&nbsp;7.500%, 03/24/2031 (A) | &nbsp;&nbsp;357000 | &nbsp;&nbsp;&nbsp;&nbsp;360840 |
|  |  | 26195211 |
| **Consumer staples – 3.0%** |  |  |
| Albertsons Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 03/31/2031 (A) | &nbsp;&nbsp;114000 | &nbsp;&nbsp;&nbsp;&nbsp;115202 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/31/2034 (A) | &nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;116469 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2028 (A) | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;546457 |
| Edgewell Personal Care Company |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 04/01/2029 (A) | &nbsp;&nbsp;156000 | &nbsp;&nbsp;&nbsp;&nbsp;149049 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2028 (A) | &nbsp;&nbsp;236000 | &nbsp;&nbsp;&nbsp;&nbsp;236246 |
| Froneri Lux FinCo SARL<br> 6.000%, 08/01/2032 (A) | 1089000 | &nbsp;&nbsp;&nbsp;1103864 |
| HLF Financing Sarl LLC<br> 12.250%, 04/15/2029 (A) | &nbsp;&nbsp;177000 | &nbsp;&nbsp;&nbsp;&nbsp;191114 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 33 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer staples (continued)** |  |  |
| Lamb Weston Holdings, Inc.<br> 4.125%, 01/31/2030 (A) | $588000 | $&nbsp;&nbsp;&nbsp;&nbsp;568782 |
| Opal Bidco SAS<br> 6.500%, 03/31/2032 (A) | 261000 | &nbsp;&nbsp;&nbsp;&nbsp;267321 |
| Performance Food Group, Inc.<br> 4.250%, 08/01/2029 (A) | 578000 | &nbsp;&nbsp;&nbsp;&nbsp;565101 |
| Post Holdings, Inc.<br> 6.375%, 03/01/2033 (A) | 462000 | &nbsp;&nbsp;&nbsp;&nbsp;466620 |
| Simmons Foods, Inc.<br> 4.625%, 03/01/2029 (A) | 379000 | &nbsp;&nbsp;&nbsp;&nbsp;365144 |
| US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2029 (A) | 470000 | &nbsp;&nbsp;&nbsp;&nbsp;467361 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/15/2033 (A) | 272000 | &nbsp;&nbsp;&nbsp;&nbsp;277058 |
|  |  | 5435788 |
| **Energy – 10.5%** |  |  |
| Antero Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 06/15/2029 (A) | 497000 | &nbsp;&nbsp;&nbsp;&nbsp;497013 |
| &nbsp;&nbsp;&nbsp;5.750%, 10/15/2033 (A) | 173000 | &nbsp;&nbsp;&nbsp;&nbsp;174045 |
| Archrock Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 04/01/2028 (A) | 176000 | &nbsp;&nbsp;&nbsp;&nbsp;177010 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2032 (A) | 627000 | &nbsp;&nbsp;&nbsp;&nbsp;646660 |
| Ascent Resources Utica Holdings LLC<br> 5.875%, 06/30/2029 (A) | 586000 | &nbsp;&nbsp;&nbsp;&nbsp;587537 |
| Blue Racer Midstream LLC<br> 7.000%, 07/15/2029 (A) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;208583 |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 02/01/2030 (A) | 179000 | &nbsp;&nbsp;&nbsp;&nbsp;187905 |
| &nbsp;&nbsp;&nbsp;6.875%, 07/01/2029 (A) | 382000 | &nbsp;&nbsp;&nbsp;&nbsp;397361 |
| Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.750%, 07/01/2031 (A) | 570000 | &nbsp;&nbsp;&nbsp;&nbsp;591319 |
| &nbsp;&nbsp;&nbsp;9.625%, 06/15/2033 (A) | 347000 | &nbsp;&nbsp;&nbsp;&nbsp;374628 |
| CNX Resources Corp.<br> 6.000%, 01/15/2029 (A) | 457000 | &nbsp;&nbsp;&nbsp;&nbsp;460078 |
| Crescent Energy Finance LLC<br> 8.375%, 01/15/2034 (A) | 878000 | &nbsp;&nbsp;&nbsp;&nbsp;872153 |
| Delek Logistics Partners LP<br> 7.125%, 06/01/2028 (A) | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;331894 |
| Enerflex, Inc.<br> 6.875%, 01/15/2031 (A) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;40898 |
| Excelerate Energy LP<br> 8.000%, 05/15/2030 (A) | 470000 | &nbsp;&nbsp;&nbsp;&nbsp;496667 |
| Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;8.000%, 05/15/2033 | 453000 | &nbsp;&nbsp;&nbsp;&nbsp;470260 |
| &nbsp;&nbsp;&nbsp;8.250%, 01/15/2029 | 495000 | &nbsp;&nbsp;&nbsp;&nbsp;516722 |
| Global Partners LP<br> 7.125%, 07/01/2033 (A) | 186000 | &nbsp;&nbsp;&nbsp;&nbsp;189393 |
| Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 02/01/2029 (A) | 383000 | &nbsp;&nbsp;&nbsp;&nbsp;378929 |
| &nbsp;&nbsp;&nbsp;6.000%, 04/15/2030 (A) | 358000 | &nbsp;&nbsp;&nbsp;&nbsp;347870 |
| Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 01/15/2034 (A) | 154000 | &nbsp;&nbsp;&nbsp;&nbsp;158210 |
| &nbsp;&nbsp;&nbsp;7.375%, 07/15/2032 (A) | &nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;104462 |
| Kinetik Holdings LP<br> 6.625%, 12/15/2028 (A) | 178000 | &nbsp;&nbsp;&nbsp;&nbsp;183283 |
| Kodiak Gas Services LLC<br> 6.500%, 10/01/2033 (A) | 242000 | &nbsp;&nbsp;&nbsp;&nbsp;247134 |
| Long Ridge Energy LLC<br> 8.750%, 02/15/2032 (A) | 423000 | &nbsp;&nbsp;&nbsp;&nbsp;450259 |
| Nabors Industries, Inc.<br> 7.625%, 11/15/2032 (A) | &nbsp;&nbsp;57000 | &nbsp;&nbsp;&nbsp;&nbsp;56024 |
| NGL Energy Operating LLC<br> 8.375%, 02/15/2032 (A) | 157000 | &nbsp;&nbsp;&nbsp;&nbsp;162584 |
| Northern Oil & Gas, Inc.<br> 7.875%, 10/15/2033 (A) | 104000 | &nbsp;&nbsp;&nbsp;&nbsp;101260 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Permian Resources Operating LLC<br> 7.000%, 01/15/2032 (A) | $&nbsp;&nbsp;485000 | $&nbsp;&nbsp;&nbsp;&nbsp;505533 |
| Rockies Express Pipeline LLC<br> 6.750%, 03/15/2033 (A) | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;564596 |
| SESI LLC<br> 7.875%, 09/30/2030 (A) | &nbsp;&nbsp;173000 | &nbsp;&nbsp;&nbsp;&nbsp;170308 |
| SM Energy Company<br> 7.000%, 08/01/2032 (A) | &nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;529874 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 04/30/2030 | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;374986 |
| &nbsp;&nbsp;&nbsp;4.625%, 05/01/2030 (A) | &nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;179724 |
| &nbsp;&nbsp;&nbsp;5.625%, 03/15/2031 (A) | &nbsp;&nbsp;229000 | &nbsp;&nbsp;&nbsp;&nbsp;230678 |
| &nbsp;&nbsp;&nbsp;5.875%, 07/15/2027 (A) | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;636589 |
| &nbsp;&nbsp;&nbsp;5.875%, 03/15/2034 (A) | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;399965 |
| &nbsp;&nbsp;&nbsp;6.000%, 04/15/2027 | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;452624 |
| Transocean International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 04/15/2031 (B) | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32239 |
| &nbsp;&nbsp;&nbsp;7.875%, 10/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72064 |
| &nbsp;&nbsp;&nbsp;8.250%, 05/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78613 |
| &nbsp;&nbsp;&nbsp;8.500%, 05/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77261 |
| USA Compression Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 10/01/2033 (A) | &nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;265141 |
| &nbsp;&nbsp;&nbsp;7.125%, 03/15/2029 (A) | &nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;190460 |
| Valaris, Ltd.<br> 8.375%, 04/30/2030 (A) | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;187284 |
| Venture Global Calcasieu Pass LLC<br> 6.250%, 01/15/2030 (A) | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;450525 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 01/15/2030 (A)(B) | &nbsp;&nbsp;531000 | &nbsp;&nbsp;&nbsp;&nbsp;511050 |
| &nbsp;&nbsp;&nbsp;9.000%, (9.000% to 9-30-29, then 5 Year CMT + 5.440%), 09/30/2029 (A)(D) | 1954000 | &nbsp;&nbsp;&nbsp;1543134 |
| &nbsp;&nbsp;&nbsp;9.500%, 02/01/2029 (A) | &nbsp;&nbsp;812000 | &nbsp;&nbsp;&nbsp;&nbsp;841619 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 12/15/2030 (A) | &nbsp;&nbsp;172000 | &nbsp;&nbsp;&nbsp;&nbsp;175155 |
| &nbsp;&nbsp;&nbsp;6.500%, 01/15/2034 (A) | &nbsp;&nbsp;213000 | &nbsp;&nbsp;&nbsp;&nbsp;218163 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/15/2034 (A) | &nbsp;&nbsp;172000 | &nbsp;&nbsp;&nbsp;&nbsp;175747 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/01/2033 (A) | &nbsp;&nbsp;866000 | &nbsp;&nbsp;&nbsp;&nbsp;935714 |
| Vermilion Energy, Inc.<br> 7.250%, 02/15/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54648 |
|  |  | 19263835 |
| **Financials – 11.1%** |  |  |
| Acrisure LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 11/06/2030 (A) | &nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;614573 |
| &nbsp;&nbsp;&nbsp;8.500%, 06/15/2029 (A) | &nbsp;&nbsp;179000 | &nbsp;&nbsp;&nbsp;&nbsp;187313 |
| Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/15/2028 (A) | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;407270 |
| &nbsp;&nbsp;&nbsp;7.000%, 01/15/2031 (A) | &nbsp;&nbsp;536000 | &nbsp;&nbsp;&nbsp;&nbsp;556087 |
| &nbsp;&nbsp;&nbsp;7.375%, 10/01/2032 (A) | &nbsp;&nbsp;222000 | &nbsp;&nbsp;&nbsp;&nbsp;230185 |
| Amynta Agency Borrower, Inc.<br> 7.500%, 07/15/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62725 |
| Ardonagh Group Finance, Ltd.<br> 8.875%, 02/15/2032 (A) | &nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;138228 |
| Asurion LLC<br> 8.000%, 12/31/2032 (A) | &nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;587288 |
| Baldwin Insurance Group Holdings LLC<br> 7.125%, 05/15/2031 (A) | &nbsp;&nbsp;242000 | &nbsp;&nbsp;&nbsp;&nbsp;250736 |
| Blackstone Mortgage Trust, Inc.<br> 7.750%, 12/01/2029 (A) | &nbsp;&nbsp;514000 | &nbsp;&nbsp;&nbsp;&nbsp;548395 |
| Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2031 | &nbsp;&nbsp;814000 | &nbsp;&nbsp;&nbsp;&nbsp;765091 |
| &nbsp;&nbsp;&nbsp;5.625%, 08/15/2030 (A) | &nbsp;&nbsp;397000 | &nbsp;&nbsp;&nbsp;&nbsp;405068 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/15/2033 (A) | &nbsp;&nbsp;317000 | &nbsp;&nbsp;&nbsp;&nbsp;325435 |
| Boost Newco Borrower LLC<br> 7.500%, 01/15/2031 (A) | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;401757 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 34 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Bread Financial Holdings, Inc.<br> 6.750%, 05/15/2031 (A) | $&nbsp;&nbsp;240000 | $&nbsp;&nbsp;&nbsp;&nbsp;248476 |
| Broadstreet Partners Group LLC<br> 5.875%, 04/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;63900 |
| Brookfield Finance, Inc.<br> 6.300%, (6.300% to 10-15-34, then 5 Year CMT + 2.076%), 01/15/2055 | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;376522 |
| Credit Acceptance Corp.<br> 6.625%, 03/15/2030 (A) | &nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;299590 |
| CrossCountry Intermediate HoldCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 10/01/2030 (A) | &nbsp;&nbsp;176000 | &nbsp;&nbsp;&nbsp;&nbsp;179519 |
| &nbsp;&nbsp;&nbsp;6.750%, 12/01/2032 (A) | &nbsp;&nbsp;242000 | &nbsp;&nbsp;&nbsp;&nbsp;245927 |
| Focus Financial Partners LLC<br> 6.750%, 09/15/2031 (A) | &nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;374235 |
| Freedom Mortgage Corp.<br> 12.250%, 10/01/2030 (A) | &nbsp;&nbsp;768000 | &nbsp;&nbsp;&nbsp;&nbsp;851822 |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 05/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;&nbsp;73044 |
| &nbsp;&nbsp;&nbsp;7.875%, 04/01/2033 (A) | &nbsp;&nbsp;182000 | &nbsp;&nbsp;&nbsp;&nbsp;188472 |
| &nbsp;&nbsp;&nbsp;8.375%, 04/01/2032 (A) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;105266 |
| Global Atlantic Financial Company<br> 7.950%, (7.950% to 7-15-29, then 5 Year CMT + 3.608%), 10/15/2054 (A) | &nbsp;&nbsp;522000 | &nbsp;&nbsp;&nbsp;&nbsp;538952 |
| goeasy, Ltd.<br> 7.375%, 10/01/2030 (A) | &nbsp;&nbsp;607000 | &nbsp;&nbsp;&nbsp;&nbsp;584122 |
| Hightower Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;25895 |
| &nbsp;&nbsp;&nbsp;9.125%, 01/31/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;37075 |
| Howden UK Refinance PLC |  |  |
| &nbsp;&nbsp;&nbsp;7.250%, 02/15/2031 (A) | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;401624 |
| &nbsp;&nbsp;&nbsp;8.125%, 02/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;45423 |
| HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.250%, 06/15/2030 (A) | &nbsp;&nbsp;509000 | &nbsp;&nbsp;&nbsp;&nbsp;534412 |
| &nbsp;&nbsp;&nbsp;7.375%, 01/31/2032 (A) | &nbsp;&nbsp;441000 | &nbsp;&nbsp;&nbsp;&nbsp;462853 |
| ION Platform Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 05/15/2028 (A) | &nbsp;&nbsp;159000 | &nbsp;&nbsp;&nbsp;&nbsp;149933 |
| &nbsp;&nbsp;&nbsp;7.875%, 09/30/2032 (A) | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;166050 |
| &nbsp;&nbsp;&nbsp;9.500%, 05/30/2029 (A) | &nbsp;&nbsp;221000 | &nbsp;&nbsp;&nbsp;&nbsp;223806 |
| Jane Street Group<br> 6.750%, 05/01/2033 (A) | &nbsp;&nbsp;347000 | &nbsp;&nbsp;&nbsp;&nbsp;362197 |
| Jones Deslauriers Insurance Management, Inc.<br> 6.875%, 10/01/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;34761 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 05/15/2030 | &nbsp;&nbsp;737000 | &nbsp;&nbsp;&nbsp;&nbsp;751436 |
| &nbsp;&nbsp;&nbsp;6.500%, 03/15/2033 | &nbsp;&nbsp;599000 | &nbsp;&nbsp;&nbsp;&nbsp;604182 |
| &nbsp;&nbsp;&nbsp;6.750%, 03/15/2032 | &nbsp;&nbsp;179000 | &nbsp;&nbsp;&nbsp;&nbsp;183818 |
| &nbsp;&nbsp;&nbsp;7.875%, 03/15/2030 | &nbsp;&nbsp;990000 | 1046739 |
| Osaic Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 08/01/2032 (A) | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;276824 |
| &nbsp;&nbsp;&nbsp;8.000%, 08/01/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;36389 |
| Panther Escrow Issuer LLC<br> 7.125%, 06/01/2031 (A) | &nbsp;&nbsp;596000 | &nbsp;&nbsp;&nbsp;&nbsp;617604 |
| PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 02/15/2034 (A) | &nbsp;&nbsp;352000 | &nbsp;&nbsp;&nbsp;&nbsp;363872 |
| &nbsp;&nbsp;&nbsp;6.875%, 05/15/2032 (A) | &nbsp;&nbsp;297000 | &nbsp;&nbsp;&nbsp;&nbsp;310928 |
| PHH Escrow Issuer LLC<br> 9.875%, 11/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;46700 |
| Popular, Inc.<br> 7.250%, 03/13/2028 | &nbsp;&nbsp;426000 | &nbsp;&nbsp;&nbsp;&nbsp;448927 |
| Rocket Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 08/01/2030 (A) | 1606000 | 1660089 |
| &nbsp;&nbsp;&nbsp;6.375%, 08/01/2033 (A) | &nbsp;&nbsp;383000 | &nbsp;&nbsp;&nbsp;&nbsp;399323 |
| &nbsp;&nbsp;&nbsp;6.500%, 08/01/2029 (A) | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;402241 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 10/15/2028 (A) | $&nbsp;&nbsp;375000 | $&nbsp;&nbsp;&nbsp;&nbsp;377727 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2031 (A) | &nbsp;&nbsp;208000 | &nbsp;&nbsp;&nbsp;&nbsp;210236 |
| Stonebriar ABF Issuer LLC<br> 8.125%, 12/15/2030 (A) | &nbsp;&nbsp;323000 | &nbsp;&nbsp;&nbsp;&nbsp;332432 |
| USI, Inc.<br> 7.500%, 01/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55548 |
| Walker & Dunlop, Inc.<br> 6.625%, 04/01/2033 (A) | &nbsp;&nbsp;149000 | &nbsp;&nbsp;&nbsp;&nbsp;152863 |
|  |  | 20331905 |
| **Health care – 8.2%** |  |  |
| Acadia Healthcare Company, Inc.<br> 7.375%, 03/15/2033 (A)(B) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;550452 |
| AdaptHealth LLC<br> 4.625%, 08/01/2029 (A) | &nbsp;&nbsp;667000 | &nbsp;&nbsp;&nbsp;&nbsp;646410 |
| AMN Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 04/15/2029 (A) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;477370 |
| &nbsp;&nbsp;&nbsp;6.500%, 01/15/2031 (A) | &nbsp;&nbsp;244000 | &nbsp;&nbsp;&nbsp;&nbsp;244046 |
| AthenaHealth Group, Inc.<br> 6.500%, 02/15/2030 (A) | &nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;&nbsp;203386 |
| Bausch Health Americas, Inc.<br> 8.500%, 01/31/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55442 |
| Bausch Health Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 01/30/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/15/2031 (A)(B) | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68250 |
| &nbsp;&nbsp;&nbsp;6.250%, 02/15/2029 (A) | &nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81305 |
| &nbsp;&nbsp;&nbsp;10.000%, 04/15/2032 (A) | 1258000 | &nbsp;&nbsp;&nbsp;1308341 |
| &nbsp;&nbsp;&nbsp;14.000%, 10/15/2030 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33330 |
| Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/15/2030 (A) | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;394461 |
| &nbsp;&nbsp;&nbsp;6.125%, 04/01/2030 (A) | &nbsp;&nbsp;108000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86533 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/15/2029 (A) | &nbsp;&nbsp;108000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96120 |
| &nbsp;&nbsp;&nbsp;10.875%, 01/15/2032 (A) | &nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;301237 |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 02/15/2031 (A) | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;479490 |
| &nbsp;&nbsp;&nbsp;4.625%, 06/01/2030 (A) | &nbsp;&nbsp;779000 | &nbsp;&nbsp;&nbsp;&nbsp;757492 |
| Endo Finance Holdings, Inc.<br> 8.500%, 04/15/2031 (A)(B) | &nbsp;&nbsp;664000 | &nbsp;&nbsp;&nbsp;&nbsp;701809 |
| Genmab A/S |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 12/15/2032 (A) | &nbsp;&nbsp;201000 | &nbsp;&nbsp;&nbsp;&nbsp;205994 |
| &nbsp;&nbsp;&nbsp;7.250%, 12/15/2033 (A) | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;141806 |
| HealthEquity, Inc.<br> 4.500%, 10/01/2029 (A) | &nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;751532 |
| IQVIA, Inc.<br> 6.500%, 05/15/2030 (A)(B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;622435 |
| Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 10/01/2029 (A) | 1071000 | &nbsp;&nbsp;&nbsp;1076790 |
| &nbsp;&nbsp;&nbsp;6.250%, 04/01/2029 (A) | 1156000 | &nbsp;&nbsp;&nbsp;1195028 |
| MPH Acquisition Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 12/31/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;67000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58793 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.000% Cash and 0.750% PIK), 03/31/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56760 |
| &nbsp;&nbsp;&nbsp;11.500%, (6.500% Cash and 5.000% PIK), 12/31/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58163 |
| National Mentor Holdings, Inc.<br> 10.500%, 12/15/2030 (A) | &nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;154816 |
| Organon & Company |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 04/30/2028 (A) | &nbsp;&nbsp;764000 | &nbsp;&nbsp;&nbsp;&nbsp;744468 |
| &nbsp;&nbsp;&nbsp;5.125%, 04/30/2031 (A) | &nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;216987 |
| Owens & Minor, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 03/31/2029 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29186 |
| &nbsp;&nbsp;&nbsp;6.625%, 04/01/2030 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31063 |
| Perrigo Finance Unlimited Company |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 06/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69652 |
| &nbsp;&nbsp;&nbsp;6.125%, 09/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67211 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 35 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| Raven Acquisition Holdings LLC<br> 6.875%, 11/15/2031 (A) | $294000 | $&nbsp;&nbsp;&nbsp;&nbsp;302920 |
| Surgery Center Holdings, Inc.<br> 7.250%, 04/15/2032 (A) | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;106204 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 01/15/2030 | 645000 | &nbsp;&nbsp;&nbsp;&nbsp;632857 |
| &nbsp;&nbsp;&nbsp;5.125%, 11/01/2027 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;400895 |
| &nbsp;&nbsp;&nbsp;6.000%, 11/15/2033 (A) | 411000 | &nbsp;&nbsp;&nbsp;&nbsp;423163 |
| &nbsp;&nbsp;&nbsp;6.750%, 05/15/2031 | 429000 | &nbsp;&nbsp;&nbsp;&nbsp;446378 |
| Varex Imaging Corp.<br> 7.875%, 10/15/2027 (A) | 703000 | &nbsp;&nbsp;&nbsp;&nbsp;716907 |
|  |  | 15030482 |
| **Industrials – 11.5%** |  |  |
| Albion Financing 1 Sarl<br> 7.000%, 05/21/2030 (A) | 381000 | &nbsp;&nbsp;&nbsp;&nbsp;397654 |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 06/01/2028 (A) | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;393564 |
| &nbsp;&nbsp;&nbsp;6.875%, 06/15/2030 (A) | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;728823 |
| &nbsp;&nbsp;&nbsp;7.875%, 02/15/2031 (A) | 660000 | &nbsp;&nbsp;&nbsp;&nbsp;695560 |
| Amentum Holdings, Inc.<br> 7.250%, 08/01/2032 (A) | 117000 | &nbsp;&nbsp;&nbsp;&nbsp;123328 |
| Anagram Holdings LLC<br> 10.000%, (0.000% Cash and 10.000% PIK), 08/15/2026 (A)(E)(F) | &nbsp;&nbsp;96052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Arcosa, Inc.<br> 4.375%, 04/15/2029 (A) | 480000 | &nbsp;&nbsp;&nbsp;&nbsp;471828 |
| Axon Enterprise, Inc.<br> 6.250%, 03/15/2033 (A) | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;187259 |
| Boise Cascade Company<br> 4.875%, 07/01/2030 (A) | 477000 | &nbsp;&nbsp;&nbsp;&nbsp;472104 |
| Brand Industrial Services, Inc.<br> 10.375%, 08/01/2030 (A) | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;171612 |
| Brundage-Bone Concrete Pumping Holdings, Inc.<br> 7.500%, 02/01/2032 (A) | 447000 | &nbsp;&nbsp;&nbsp;&nbsp;456172 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2032 (A) | 201000 | &nbsp;&nbsp;&nbsp;&nbsp;191394 |
| &nbsp;&nbsp;&nbsp;6.375%, 06/15/2032 (A) | 385000 | &nbsp;&nbsp;&nbsp;&nbsp;398912 |
| &nbsp;&nbsp;&nbsp;6.750%, 05/15/2035 (A) | 355000 | &nbsp;&nbsp;&nbsp;&nbsp;371158 |
| CACI International, Inc.<br> 6.375%, 06/15/2033 (A) | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;362138 |
| Carpenter Technology Corp.<br> 5.625%, 03/01/2034 (A) | 138000 | &nbsp;&nbsp;&nbsp;&nbsp;140170 |
| Cimpress PLC<br> 7.375%, 09/15/2032 (A) | &nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92820 |
| Clean Harbors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 10/15/2033 (A) | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;179516 |
| &nbsp;&nbsp;&nbsp;6.375%, 02/01/2031 (A) | 357000 | &nbsp;&nbsp;&nbsp;&nbsp;367397 |
| Dycom Industries, Inc.<br> 4.500%, 04/15/2029 (A) | 572000 | &nbsp;&nbsp;&nbsp;&nbsp;565021 |
| Efesto Bidco SpA Efesto US LLC<br> 7.500%, 02/15/2032 (A) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;202022 |
| EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 12/15/2030 (A) | 416000 | &nbsp;&nbsp;&nbsp;&nbsp;433269 |
| &nbsp;&nbsp;&nbsp;6.750%, 07/15/2031 (A) | 410000 | &nbsp;&nbsp;&nbsp;&nbsp;432145 |
| Enpro, Inc.<br> 6.125%, 06/01/2033 (A) | 122000 | &nbsp;&nbsp;&nbsp;&nbsp;125891 |
| FTAI Aviation Investors LLC<br> 7.000%, 06/15/2032 (A) | 728000 | &nbsp;&nbsp;&nbsp;&nbsp;765312 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.250%, 08/01/2032 (A) | 182000 | &nbsp;&nbsp;&nbsp;&nbsp;184971 |
| &nbsp;&nbsp;&nbsp;8.375%, 11/15/2032 (A) | 264000 | &nbsp;&nbsp;&nbsp;&nbsp;268914 |
| Global Infrastructure Solutions, Inc.<br> 5.625%, 06/01/2029 (A) | 439000 | &nbsp;&nbsp;&nbsp;&nbsp;438999 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 03/15/2031 (A) | $&nbsp;&nbsp;108000 | $&nbsp;&nbsp;&nbsp;&nbsp;109603 |
| &nbsp;&nbsp;&nbsp;6.625%, 06/15/2029 (A) | &nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;368525 |
| &nbsp;&nbsp;&nbsp;7.000%, 06/15/2030 (A) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;378874 |
| JB Poindexter & Company, Inc.<br> 8.750%, 12/15/2031 (A) | &nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;269201 |
| JELD-WEN, Inc.<br> 7.000%, 09/01/2032 (A)(B) | &nbsp;&nbsp;608000 | &nbsp;&nbsp;&nbsp;&nbsp;417745 |
| JetBlue Airways Corp.<br> 9.875%, 09/20/2031 (A) | &nbsp;&nbsp;892000 | &nbsp;&nbsp;&nbsp;&nbsp;898655 |
| Madison IAQ LLC<br> 5.875%, 06/30/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90447 |
| Miter Brands Acquisition Holdco, Inc.<br> 6.750%, 04/01/2032 (A) | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;275776 |
| OneSky Flight LLC<br> 8.875%, 12/15/2029 (A) | &nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;204396 |
| Stanley Black & Decker, Inc.<br> 6.707%, (6.707% to 3-15-30, then 5 Year CMT + 2.657%), 03/15/2060 | &nbsp;&nbsp;548000 | &nbsp;&nbsp;&nbsp;&nbsp;548878 |
| Synergy Infrastructure Holdings LLC<br> 7.875%, 12/01/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71534 |
| The Brink's Company<br> 6.500%, 06/15/2029 (A) | &nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;184300 |
| The GEO Group, Inc.<br> 10.250%, 04/15/2031 | &nbsp;&nbsp;807000 | &nbsp;&nbsp;&nbsp;&nbsp;883409 |
| TK Elevator U.S. Newco, Inc.<br> 5.250%, 07/15/2027 (A) | &nbsp;&nbsp;549000 | &nbsp;&nbsp;&nbsp;&nbsp;549129 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 05/01/2029 | 1296000 | &nbsp;&nbsp;&nbsp;1292633 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2029 (A) | &nbsp;&nbsp;546000 | &nbsp;&nbsp;&nbsp;&nbsp;563073 |
| &nbsp;&nbsp;&nbsp;6.750%, 01/31/2034 (A) | &nbsp;&nbsp;481000 | &nbsp;&nbsp;&nbsp;&nbsp;501050 |
| &nbsp;&nbsp;&nbsp;7.125%, 12/01/2031 (A) | &nbsp;&nbsp;439000 | &nbsp;&nbsp;&nbsp;&nbsp;461376 |
| TriNet Group, Inc.<br> 7.125%, 08/15/2031 (A) | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;536011 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 | &nbsp;&nbsp;298000 | &nbsp;&nbsp;&nbsp;&nbsp;284204 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2030 | &nbsp;&nbsp;588000 | &nbsp;&nbsp;&nbsp;&nbsp;569994 |
| VT Topco, Inc.<br> 8.500%, 08/15/2030 (A) | &nbsp;&nbsp;599000 | &nbsp;&nbsp;&nbsp;&nbsp;625747 |
| Watco Companies LLC<br> 7.125%, 08/01/2032 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;209461 |
| WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 03/15/2029 (A) | &nbsp;&nbsp;574000 | &nbsp;&nbsp;&nbsp;&nbsp;592752 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/15/2033 (A) | &nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;191067 |
| &nbsp;&nbsp;&nbsp;7.250%, 06/15/2028 (A) | &nbsp;&nbsp;322000 | &nbsp;&nbsp;&nbsp;&nbsp;326674 |
|  |  | 21022467 |
| **Information technology – 6.0%** |  |  |
| Amkor Technology, Inc.<br> 5.875%, 10/01/2033 (A) | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;107166 |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 03/31/2029 (A) | &nbsp;&nbsp;611000 | &nbsp;&nbsp;&nbsp;&nbsp;618997 |
| &nbsp;&nbsp;&nbsp;6.625%, 08/15/2033 (A) | &nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;189292 |
| &nbsp;&nbsp;&nbsp;8.250%, 06/30/2032 (A) | 1074000 | &nbsp;&nbsp;&nbsp;1122373 |
| &nbsp;&nbsp;&nbsp;9.000%, 09/30/2029 (A) | &nbsp;&nbsp;756000 | &nbsp;&nbsp;&nbsp;&nbsp;787382 |
| Consensus Cloud Solutions, Inc.<br> 6.500%, 10/15/2028 (A) | &nbsp;&nbsp;484000 | &nbsp;&nbsp;&nbsp;&nbsp;486276 |
| CoreWeave, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.000%, 02/01/2031 (A) | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;155808 |
| &nbsp;&nbsp;&nbsp;9.250%, 06/01/2030 (A) | &nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;272423 |
| Diebold Nixdorf, Inc.<br> 7.750%, 03/31/2030 (A) | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;351175 |
| EchoStar Corp.<br> 10.750%, 11/30/2029 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;464437 |
| Flash Compute LLC<br> 7.250%, 12/31/2030 (A) | &nbsp;&nbsp;146000 | &nbsp;&nbsp;&nbsp;&nbsp;144651 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 36 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Insight Enterprises, Inc.<br> 6.625%, 05/15/2032 (A) | $179000 | $&nbsp;&nbsp;&nbsp;&nbsp;184011 |
| Kioxia Holdings Corp.<br> 6.250%, 07/24/2030 (A) | 916000 | &nbsp;&nbsp;&nbsp;&nbsp;942413 |
| McAfee Corp.<br> 7.375%, 02/15/2030 (A) | 176000 | &nbsp;&nbsp;&nbsp;&nbsp;153486 |
| NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 04/15/2029 (A) | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37733 |
| &nbsp;&nbsp;&nbsp;5.250%, 10/01/2030 (A) | 557000 | &nbsp;&nbsp;&nbsp;&nbsp;533328 |
| ON Semiconductor Corp.<br> 3.875%, 09/01/2028 (A) | 251000 | &nbsp;&nbsp;&nbsp;&nbsp;245442 |
| Open Text Corp.<br> 3.875%, 02/15/2028 (A) | 458000 | &nbsp;&nbsp;&nbsp;&nbsp;449476 |
| Open Text Holdings, Inc.<br> 4.125%, 02/15/2030 (A) | 468000 | &nbsp;&nbsp;&nbsp;&nbsp;447324 |
| Pagaya US Holdings Company LLC<br> 8.875%, 08/01/2030 (A) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;174126 |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 08/15/2032 (A) | 214000 | &nbsp;&nbsp;&nbsp;&nbsp;218803 |
| &nbsp;&nbsp;&nbsp;6.250%, 08/15/2033 (A) | 390000 | &nbsp;&nbsp;&nbsp;&nbsp;404255 |
| Rocket Software, Inc.<br> 6.500%, 02/15/2029 (A) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48999 |
| Seagate Data Storage Technology<br> Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 12/01/2034 (A) | 281000 | &nbsp;&nbsp;&nbsp;&nbsp;287990 |
| &nbsp;&nbsp;&nbsp;8.250%, 12/15/2029 (A) | 153000 | &nbsp;&nbsp;&nbsp;&nbsp;162247 |
| UKG, Inc.<br> 6.875%, 02/01/2031 (A) | 777000 | &nbsp;&nbsp;&nbsp;&nbsp;798145 |
| Virtusa Corp.<br> 7.125%, 12/15/2028 (A) | 547000 | &nbsp;&nbsp;&nbsp;&nbsp;539026 |
| WULF Compute LLC<br> 7.750%, 10/15/2030 (A) | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;185445 |
| Xerox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;10.250%, 10/15/2030 (A) | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44010 |
| &nbsp;&nbsp;&nbsp;13.500%, 04/15/2031 (A)(B) | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50491 |
| Xerox Holdings Corp.<br> 5.500%, 08/15/2028 (A) | 415000 | &nbsp;&nbsp;&nbsp;&nbsp;190862 |
| Zebra Technologies Corp.<br> 6.500%, 06/01/2032 (A) | 201000 | &nbsp;&nbsp;&nbsp;&nbsp;207779 |
|  |  | 11005371 |
| **Materials – 7.7%** |  |  |
| Alcoa Nederland Holding BV<br> 4.125%, 03/31/2029 (A) | 483000 | &nbsp;&nbsp;&nbsp;&nbsp;473455 |
| Amsted Industries, Inc.<br> 6.375%, 03/15/2033 (A) | 183000 | &nbsp;&nbsp;&nbsp;&nbsp;188487 |
| Ardagh Group SA |  |  |
| &nbsp;&nbsp;&nbsp;9.500%, 12/01/2030 (A) | 463098 | &nbsp;&nbsp;&nbsp;&nbsp;502284 |
| &nbsp;&nbsp;&nbsp;12.000%, (5.500% Cash and 6.500% PIK), 12/01/2030 (A) | 970000 | &nbsp;&nbsp;&nbsp;&nbsp;886338 |
| Ardagh Metal Packaging Finance<br> USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 09/01/2029 (A) | &nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86607 |
| &nbsp;&nbsp;&nbsp;6.250%, 01/30/2031 (A) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92165 |
| Ashland, Inc.<br> 6.875%, 05/15/2043 | 435000 | &nbsp;&nbsp;&nbsp;&nbsp;456616 |
| Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 02/15/2031 | 137000 | &nbsp;&nbsp;&nbsp;&nbsp;140269 |
| &nbsp;&nbsp;&nbsp;7.050%, 11/15/2030 | 684000 | &nbsp;&nbsp;&nbsp;&nbsp;720715 |
| &nbsp;&nbsp;&nbsp;7.375%, 02/15/2034 | 137000 | &nbsp;&nbsp;&nbsp;&nbsp;139188 |
| Champion Iron Canada, Inc.<br> 7.875%, 07/15/2032 (A) | 138000 | &nbsp;&nbsp;&nbsp;&nbsp;146508 |
| Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 03/15/2032 (A) | 545000 | &nbsp;&nbsp;&nbsp;&nbsp;558625 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/15/2031 (A) | 549000 | &nbsp;&nbsp;&nbsp;&nbsp;579107 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Materials (continued)** |  |  |
| Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/15/2032 (A) | $&nbsp;&nbsp;285000 | $&nbsp;&nbsp;&nbsp;&nbsp;293058 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/15/2030 (A) | &nbsp;&nbsp;446000 | &nbsp;&nbsp;&nbsp;&nbsp;457150 |
| &nbsp;&nbsp;&nbsp;8.750%, 04/15/2030 (A) | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;270437 |
| Commercial Metals Company<br> 5.750%, 11/15/2033 (A) | &nbsp;&nbsp;104000 | &nbsp;&nbsp;&nbsp;&nbsp;106343 |
| Consolidated Energy Finance SA<br> 12.000%, 02/15/2031 (A)(B) | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;106050 |
| Fortescue Treasury Pty, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2027 (A) | &nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;277308 |
| &nbsp;&nbsp;&nbsp;5.875%, 04/15/2030 (A) | &nbsp;&nbsp;261000 | &nbsp;&nbsp;&nbsp;&nbsp;268401 |
| Graham Packaging Company, Inc.<br> 7.125%, 08/15/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44038 |
| INEOS Finance PLC<br> 6.750%, 05/15/2028 (A) | &nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;157470 |
| INEOS Quattro Finance 2 PLC<br> 9.625%, 03/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33246 |
| Inversion Escrow Issuer LLC<br> 6.750%, 08/01/2032 (A) | &nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;513010 |
| Kaiser Aluminum Corp.<br> 5.875%, 03/01/2034 (A) | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;275863 |
| Magnera Corp.<br> 7.250%, 11/15/2031 (A) | &nbsp;&nbsp;728000 | &nbsp;&nbsp;&nbsp;&nbsp;714648 |
| Midwest Vanadium Proprietary, Ltd.<br> 11.500%, 02/15/2018 (A)(E) | &nbsp;&nbsp;912943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5496 |
| Northwest Acquisitions ULC<br> 7.125%, 11/01/2022 (A)(E) | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 01/30/2030 (A) | &nbsp;&nbsp;481000 | &nbsp;&nbsp;&nbsp;&nbsp;464646 |
| &nbsp;&nbsp;&nbsp;6.375%, 08/15/2033 (A) | &nbsp;&nbsp;283000 | &nbsp;&nbsp;&nbsp;&nbsp;286897 |
| Olympus Water US Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 10/01/2028 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;194143 |
| &nbsp;&nbsp;&nbsp;7.250%, 02/15/2033 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;200988 |
| Owens-Brockway Glass Container, Inc.<br> 7.250%, 05/15/2031 (A)(B) | 1027000 | &nbsp;&nbsp;&nbsp;1048338 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2032 (A) | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;135314 |
| &nbsp;&nbsp;&nbsp;6.750%, 03/01/2033 (A) | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;469931 |
| Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 02/01/2028 (A) | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;273469 |
| &nbsp;&nbsp;&nbsp;6.875%, 07/15/2033 (A) | &nbsp;&nbsp;432000 | &nbsp;&nbsp;&nbsp;&nbsp;454988 |
| Solstice Advanced Materials, Inc.<br> 5.625%, 09/30/2033 (A) | &nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;210838 |
| Standard Building Solutions, Inc.<br> 5.875%, 03/15/2034 (A) | &nbsp;&nbsp;152000 | &nbsp;&nbsp;&nbsp;&nbsp;152444 |
| Standard Industries, Inc.<br> 4.375%, 07/15/2030 (A) | &nbsp;&nbsp;542000 | &nbsp;&nbsp;&nbsp;&nbsp;522870 |
| The Scotts Miracle-Gro Company<br> 4.000%, 04/01/2031 | &nbsp;&nbsp;542000 | &nbsp;&nbsp;&nbsp;&nbsp;509948 |
| Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;8.250%, 07/15/2030 (A) | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;192957 |
| &nbsp;&nbsp;&nbsp;12.250%, 01/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56422 |
| Tronox, Inc.<br> 4.625%, 03/15/2029 (A)(B) | &nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70706 |
| White Cap Supply Holdings LLC<br> 7.375%, 11/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56893 |
| WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 08/15/2029 (A) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95189 |
| &nbsp;&nbsp;&nbsp;6.625%, 08/15/2032 (A) | &nbsp;&nbsp;247000 | &nbsp;&nbsp;&nbsp;&nbsp;250154 |
|  |  | 14140027 |
| **Real estate – 2.8%** |  |  |
| Anywhere Real Estate Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 04/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68003 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/15/2030 (A) | &nbsp;&nbsp;247157 | &nbsp;&nbsp;&nbsp;&nbsp;246093 |
| &nbsp;&nbsp;&nbsp;9.750%, 04/15/2030 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;379845 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 37 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Diversified Healthcare Trust |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2028 | $&nbsp;&nbsp;&nbsp;&nbsp;44000 | $&nbsp;&nbsp;&nbsp;&nbsp;42472 |
| &nbsp;&nbsp;&nbsp;7.250%, 10/15/2030 (A) | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;107361 |
| &nbsp;&nbsp;&nbsp;12.784%, 01/15/2026 (A)(B)(G) | &nbsp;&nbsp;&nbsp;&nbsp;79000 | &nbsp;&nbsp;&nbsp;&nbsp;78605 |
| Fideicomiso Irrevocable de Emision, Administracion y Fuente de Pago Numero CIB/4323<br> 13.000%, (11.000% Cash and 2.000% PIK), 09/12/2030 (A)(E) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;54500 |
| Greystar Real Estate Partners LLC<br> 7.750%, 09/01/2030 (A) | &nbsp;&nbsp;514000 | &nbsp;&nbsp;&nbsp;&nbsp;541841 |
| Iron Mountain Information Management Services, Inc.<br> 5.000%, 07/15/2032 (A) | &nbsp;&nbsp;403000 | &nbsp;&nbsp;&nbsp;&nbsp;384730 |
| Iron Mountain, Inc.<br> 4.875%, 09/15/2029 (A) | 1136000 | 1120719 |
| Millrose Properties, Inc.<br> 6.375%, 08/01/2030 (A) | &nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;189296 |
| MPT Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 03/15/2031 | &nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;81434 |
| &nbsp;&nbsp;&nbsp;4.625%, 08/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;79000 | &nbsp;&nbsp;&nbsp;&nbsp;66185 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/15/2027 | &nbsp;&nbsp;121000 | &nbsp;&nbsp;&nbsp;&nbsp;116811 |
| &nbsp;&nbsp;&nbsp;8.500%, 02/15/2032 (A) | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;200771 |
| Outfront Media Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 01/15/2029 (A) | &nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;270741 |
| &nbsp;&nbsp;&nbsp;7.375%, 02/15/2031 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;211692 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 01/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;33040 |
| &nbsp;&nbsp;&nbsp;4.950%, 10/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;58941 |
| &nbsp;&nbsp;&nbsp;5.500%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;52174 |
| &nbsp;&nbsp;&nbsp;5.883%, 09/30/2027 (A)(G) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;63256 |
| &nbsp;&nbsp;&nbsp;8.375%, 06/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;83448 |
| &nbsp;&nbsp;&nbsp;8.625%, 11/15/2031 (A) | &nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp;124994 |
| &nbsp;&nbsp;&nbsp;8.875%, 06/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;59187 |
| Uniti Group LP |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2029 (A)(B) | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;163254 |
| &nbsp;&nbsp;&nbsp;8.625%, 06/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;51222 |
| XHR LP<br> 6.625%, 05/15/2030 (A) | &nbsp;&nbsp;323000 | &nbsp;&nbsp;&nbsp;&nbsp;333363 |
|  |  | 5183978 |
| **Utilities – 2.9%** |  |  |
| Alpha Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 01/15/2034 (A) | &nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp;140248 |
| &nbsp;&nbsp;&nbsp;6.750%, 10/15/2032 (A) | &nbsp;&nbsp;258000 | &nbsp;&nbsp;&nbsp;&nbsp;267079 |
| Calpine Corp.<br> 4.500%, 02/15/2028 (A) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;300199 |
| ContourGlobal Power Holdings SA<br> 6.750%, 02/28/2030 (A) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;515555 |
| Lightning Power LLC<br> 7.250%, 08/15/2032 (A) | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;451924 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2031 (A) | &nbsp;&nbsp;827000 | &nbsp;&nbsp;&nbsp;&nbsp;772817 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2034 (A) | &nbsp;&nbsp;702000 | &nbsp;&nbsp;&nbsp;&nbsp;709139 |
| Talen Energy Supply LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 02/01/2034 (A) | &nbsp;&nbsp;526000 | &nbsp;&nbsp;&nbsp;&nbsp;536475 |
| &nbsp;&nbsp;&nbsp;8.625%, 06/01/2030 (A) | &nbsp;&nbsp;591000 | &nbsp;&nbsp;&nbsp;&nbsp;625724 |
| The AES Corp.<br> 7.600%, (7.600% to 1-15-30, then 5 Year CMT + 3.201%), 01/15/2055 | &nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;362553 |
| TransAlta Corp.<br> 5.875%, 02/01/2034 | &nbsp;&nbsp;106000 | &nbsp;&nbsp;&nbsp;&nbsp;106732 |
| VoltaGrid LLC<br> 7.375%, 11/01/2030 (A) | &nbsp;&nbsp;344000 | &nbsp;&nbsp;&nbsp;&nbsp;340817 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| XPLR Infrastructure Operating Partners LP<br> 7.750%, 04/15/2034 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;210000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213421 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5342683 |
| TOTAL CORPORATE BONDS (Cost $177,618,507) |  | $172640027 |
| **TERM LOANS (H) – 1.9%** | **TERM LOANS (H) – 1.9%** |  |
| **Communication services – 1.2%** |  |  |
| Townsquare Media, Inc., 2025 Term Loan (3 month CME Term SOFR + 5.000%) 8.878%, 02/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp;588656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410588 |
| X Corp., 2025 Fixed Term Loan 9.500%, 10/26/2029 | &nbsp;&nbsp;&nbsp;1834000 | &nbsp;&nbsp;&nbsp;&nbsp;1826132 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2236720 |
| **Consumer discretionary – 0.5%** |  |  |
| Dave & Buster's, Inc., 2024 Term Loan B (3 month CME Term SOFR + 3.250%) 7.125%, 06/29/2029 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917810 |
| **Materials – 0.2%** |  |  |
| Arctic Canadian Diamond Company, Ltd., 2nd Lien PIK Term Loan (10.000% Cash or 12.500% PIK) 10.000%, 12/31/2027 (F) | &nbsp;&nbsp;&nbsp;&nbsp;501186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245481 |
| Trinseo Holding Sarl, 2021 Term Loan B2 (3 month CME Term SOFR + 2.500%) 6.584%, 05/03/2028 | &nbsp;&nbsp;&nbsp;&nbsp;742228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70282 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315763 |
| TOTAL TERM LOANS (Cost $4,388,121) | TOTAL TERM LOANS (Cost $4,388,121) | $&nbsp;&nbsp;&nbsp;&nbsp;3470293 |
| **COMMON STOCKS – 0.1%** |  |  |
| **Communication services – 0.1%** |  |  |
| Altice France Lux 3 (I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220972 |
| New Cotai, Inc., Class B (F)(I)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220972 |
| **Energy – 0.0%** |  |  |
| KCAD Holdings I, Ltd. (F)(I)(J) | 165553563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |
| MWO Holdings LLC (F)(I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Permian Production (F)(I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11750 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11916 |
| TOTAL COMMON STOCKS (Cost $1,946,161) | TOTAL COMMON STOCKS (Cost $1,946,161) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232888 |
| **PREFERRED SECURITIES – 0.4%** |  |  |
| **Financials – 0.4%** |  |  |
| Athene Holding, Ltd., 7.250% (7.250% to 3-30-29, then 5 Year CMT + 2.986%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697433 |
| TOTAL PREFERRED SECURITIES (Cost $701,968) | TOTAL PREFERRED SECURITIES (Cost $701,968) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697433 |
| **ESCROW SHARES – 0.0%** |  |  |
| Arctic Canadian Diamonds Holding Units (F)(I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5722 |
| TOTAL ESCROW SHARES (Cost $0) | TOTAL ESCROW SHARES (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5722 |
| **ESCROW CERTIFICATES – 0.0%** |  |  |
| Adelphia Communications Corp. (F)(I) | $&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Adelphia Communications Corp. (F)(I) | &nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Adelphia Communications Corp. (F)(I) | &nbsp;&nbsp;&nbsp;1025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Magellan Health, Inc. (F)(I) | &nbsp;&nbsp;&nbsp;1930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL ESCROW CERTIFICATES (Cost $320,209) | TOTAL ESCROW CERTIFICATES (Cost $320,209) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 38 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 4.9%** | **SHORT-TERM INVESTMENTS – 4.9%** |  |
| **Short-term funds – 4.9%** |  |  |
| John Hancock Collateral Trust, 3.7477% (K)(L) | 901344 | $&nbsp;&nbsp;&nbsp;&nbsp;9017225 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 3.7239% (K) | &nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $9,017,322) | TOTAL SHORT-TERM INVESTMENTS (Cost $9,017,322) | $&nbsp;&nbsp;&nbsp;&nbsp;9017464 |
| **Total Investments (High Yield Trust)<br> (Cost $193,992,288) – 101.5%** | **Total Investments (High Yield Trust)<br> (Cost $193,992,288) – 101.5%** | $**186063827** |
| **Other assets and liabilities, net – (1.5%)** |  | &nbsp;&nbsp;**(2694439)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**183369388** |

---

<u>Currency Abbreviations</u> <br> EUR Euro

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| ICE | Intercontinental Exchange |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| (A) | This security is 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 $151,234,667 or 82.5% of the fund's net assets as of 12-31-25. |
| (B) | All or a portion of this security is on loan as of 12-31-25. |
| (C) | Non-callable perpetual bond. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | Non-income producing - Issuer is in default. |
| (F) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (G) | 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. |
| (H) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
| (I) | Non-income producing security. |
| (J) | Restricted security as to resale, excluding 144A securities. For more information on this security refer to the Notes to financial statements. |
| (K) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (L) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $5,971,097. |

---

#### Investment Quality Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 63.8%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 63.8%** |  |
| **U.S. Government – 37.6%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996062 |
| &nbsp;&nbsp;&nbsp;1.875%, 11/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702871 |
| &nbsp;&nbsp;&nbsp;2.250%, 08/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3122618 |

---

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Bonds (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1619000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146581 |
| &nbsp;&nbsp;&nbsp;3.000%, 11/15/2045 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9172000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6841307 |
| &nbsp;&nbsp;&nbsp;3.125%, 05/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826579 |
| &nbsp;&nbsp;&nbsp;3.625%, 05/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270044 |
| &nbsp;&nbsp;&nbsp;3.750%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974455 |
| &nbsp;&nbsp;&nbsp;4.250%, 08/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2039741 |
| &nbsp;&nbsp;&nbsp;4.375%, 11/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154232 |
| &nbsp;&nbsp;&nbsp;4.750%, 08/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042113 |
| &nbsp;&nbsp;&nbsp;4.875%, 08/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933961 |
| U.S. Treasury Inflation<br> Protected Securities |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 02/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1399339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805062 |
| &nbsp;&nbsp;&nbsp;0.625%, 02/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73737 |
| &nbsp;&nbsp;&nbsp;0.750%, 02/15/2042 to 02/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3691404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2799781 |
| &nbsp;&nbsp;&nbsp;1.000%, 02/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305462 |
| &nbsp;&nbsp;&nbsp;1.375%, 02/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134133 |
| &nbsp;&nbsp;&nbsp;1.750%, 01/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2648539 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 06/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9062202 |
| &nbsp;&nbsp;&nbsp;1.625%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4309272 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773610 |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2745177 |
| &nbsp;&nbsp;&nbsp;3.375%, 05/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985401 |
| &nbsp;&nbsp;&nbsp;3.500%, 11/15/2028 to 11/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3508342 |
| &nbsp;&nbsp;&nbsp;3.875%, 08/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1789982 |
| &nbsp;&nbsp;&nbsp;4.000%, 12/15/2027 to 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7183273 |
| &nbsp;&nbsp;&nbsp;4.125%, 11/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857521 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7048292 |
| &nbsp;&nbsp;&nbsp;4.375%, 05/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2237992 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2027 to 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3096000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3185745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80504087 |
| **U.S. Government Agency – 26.2%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 01/01/2052 to 05/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3562939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3027904 |
| &nbsp;&nbsp;&nbsp;3.000%, 12/01/2046 to 04/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182361 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43749 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2053 to 07/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3356379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408443 |
| &nbsp;&nbsp;&nbsp;6.000%, 02/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565046 |
| &nbsp;&nbsp;&nbsp;6.500%, 04/01/2029 to 08/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3491 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/01/2027 to 05/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 04/01/2051 to 05/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4835721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3942531 |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2619863 |
| &nbsp;&nbsp;&nbsp;2.500%, 07/01/2030 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4522965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3864701 |
| &nbsp;&nbsp;&nbsp;3.500%, 08/01/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343589 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882894 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7989889 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/01/2053 to 02/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2458529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2503113 |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5158673 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 12/20/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2179349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804853 |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2516714 |
| &nbsp;&nbsp;&nbsp;3.000%, 04/20/2051 to 05/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567178 |
| &nbsp;&nbsp;&nbsp;3.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3818226 |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2453351 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2040 to 02/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13047 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1704815 |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892968 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3816486 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/15/2032 to 04/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18240 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/15/2028 to 02/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4292 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 39 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 11/15/2031 to 11/15/2033 | $&nbsp;&nbsp;20523 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20942 |
|  |  | &nbsp;&nbsp;&nbsp;56167579 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $147,295,519) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $147,295,519) | $136671666 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 1.7%** | **FOREIGN GOVERNMENT OBLIGATIONS – 1.7%** |  |
| **Chile – 0.0%** |  |  |
| Republic of Chile<br> 1.250%, 01/22/2051 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104215 |
| **Colombia – 0.1%** |  |  |
| Republic of Colombia<br> 7.500%, 02/02/2034 | $200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208400 |
| **Israel – 0.3%** |  |  |
| State of Israel |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 07/03/2050 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146390 |
| &nbsp;&nbsp;&nbsp;5.375%, 02/19/2030 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413728 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560118 |
| **Mexico – 0.7%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 03/22/2033 | 605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599555 |
| &nbsp;&nbsp;&nbsp;6.625%, 01/29/2038 | 615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641753 |
| &nbsp;&nbsp;&nbsp;7.375%, 05/13/2055 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231555 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1472863 |
| **North Macedonia – 0.1%** |  |  |
| Republic of North Macedonia<br> 3.675%, 06/03/2026 (C) | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311590 |
| **Peru – 0.1%** |  |  |
| Republic of Peru<br> 5.875%, 08/08/2054 | $110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108851 |
| **Romania – 0.4%** |  |  |
| Republic of Romania |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 12/02/2040 (C) | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258745 |
| &nbsp;&nbsp;&nbsp;2.750%, 04/14/2041 | 605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469814 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/24/2035 (C) | $&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35669 |
| &nbsp;&nbsp;&nbsp;6.375%, 01/30/2034 (C) | 116000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120643 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884871 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $3,706,865) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $3,706,865) | $&nbsp;&nbsp;&nbsp;&nbsp;3650908 |
| **CORPORATE BONDS – 25.2%** | **CORPORATE BONDS – 25.2%** |  |
| **Communication services – 2.5%** |  |  |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2065 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239823 |
| &nbsp;&nbsp;&nbsp;5.350%, 11/15/2045 | 305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303073 |
| &nbsp;&nbsp;&nbsp;5.700%, 11/15/2075 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206693 |
| Altice France SA<br> 6.500%, 04/15/2032 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52728 |
| CCO Holdings LLC<br> 4.250%, 02/01/2031 (C) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137828 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 04/01/2051 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28324 |
| &nbsp;&nbsp;&nbsp;5.125%, 07/01/2049 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105644 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2053 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134444 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2048 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55444 |
| &nbsp;&nbsp;&nbsp;6.384%, 10/23/2035 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221892 |
| &nbsp;&nbsp;&nbsp;6.550%, 06/01/2034 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36811 |
| &nbsp;&nbsp;&nbsp;6.650%, 02/01/2034 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47405 |
| Cinemark USA, Inc.<br> 7.000%, 08/01/2032 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103770 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.887%, 11/01/2051 | $100000 | $&nbsp;&nbsp;&nbsp;&nbsp;58479 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/01/2040 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;152480 |
| Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 06/15/2031 (C) | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;84611 |
| &nbsp;&nbsp;&nbsp;5.450%, 09/01/2034 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;14759 |
| &nbsp;&nbsp;&nbsp;5.950%, 09/01/2054 (C) | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;109427 |
| Directv Financing LLC<br> 10.000%, 02/15/2031 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;102205 |
| Iliad Holding SAS<br> 6.875%, 04/15/2031 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;125314 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 03/31/2034 (C) | $100000 | &nbsp;&nbsp;&nbsp;&nbsp;103057 |
| &nbsp;&nbsp;&nbsp;8.500%, 01/15/2036 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20480 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 11/15/2032 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;60482 |
| &nbsp;&nbsp;&nbsp;5.400%, 08/15/2054 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;37213 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/15/2045 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;242755 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/15/2064 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;111311 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/15/2055 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;43190 |
| &nbsp;&nbsp;&nbsp;5.750%, 11/15/2065 | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;247911 |
| NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.876%, 07/16/2030 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;203683 |
| &nbsp;&nbsp;&nbsp;5.171%, 07/16/2032 (C) | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;615620 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 05/19/2032 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4518 |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2043 | 211000 | &nbsp;&nbsp;&nbsp;&nbsp;146763 |
| &nbsp;&nbsp;&nbsp;4.950%, 01/15/2031 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;52889 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/19/2050 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;56022 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2044 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;86810 |
| &nbsp;&nbsp;&nbsp;5.850%, 09/01/2043 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;41166 |
| Scripps Escrow II, Inc.<br> 3.875%, 01/15/2029 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;92014 |
| Time Warner Cable LLC<br> 4.500%, 09/15/2042 | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;242242 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 02/15/2031 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;127902 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2031 | 230000 | &nbsp;&nbsp;&nbsp;&nbsp;219894 |
| &nbsp;&nbsp;&nbsp;4.700%, 01/15/2035 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;24562 |
| &nbsp;&nbsp;&nbsp;5.050%, 07/15/2033 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;35716 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;56599 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2034 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;58268 |
| United Group BV<br> 6.500%, 10/31/2031 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;119901 |
| Verizon Communications, Inc.<br> 5.875%, 11/30/2055 | $&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;59280 |
|  |  | 5431402 |
| **Consumer discretionary – 0.8%** |  |  |
| AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/01/2033 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;25053 |
| &nbsp;&nbsp;&nbsp;5.400%, 07/15/2034 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;25880 |
| &nbsp;&nbsp;&nbsp;6.550%, 11/01/2033 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;27784 |
| Bertrand Franchise Finance SAS<br> 5.754%, (3 month EURIBOR + 3.750%), 07/18/2030 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;116825 |
| Clarios Global LP<br> 4.750%, 06/15/2031 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;119076 |
| Forvia SE<br> 5.625%, 06/15/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;122433 |
| Gildan Activewear, Inc.<br> 5.400%, 10/07/2035 (C) | $250000 | &nbsp;&nbsp;&nbsp;&nbsp;249284 |
| Howard University |  |  |
| &nbsp;&nbsp;&nbsp;2.701%, 10/01/2029 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;93404 |
| &nbsp;&nbsp;&nbsp;2.801%, 10/01/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;91801 |
| &nbsp;&nbsp;&nbsp;3.476%, 10/01/2041 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;94109 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 40 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 06/15/2028 | $&nbsp;&nbsp;90000 | $&nbsp;&nbsp;&nbsp;&nbsp;92277 |
| &nbsp;&nbsp;&nbsp;6.000%, 06/14/2030 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;146707 |
| NCL Corp., Ltd.<br> 6.250%, 03/01/2030 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;50766 |
| Penn Entertainment, Inc.<br> 4.125%, 07/01/2029 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;50938 |
| Specialty Building Products Holdings LLC<br> 7.750%, 10/15/2029 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;97568 |
| Staples, Inc.<br> 10.750%, 09/01/2029 (C) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;64622 |
| Tapestry, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 03/11/2030 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;66729 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/11/2035 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;56231 |
| Wayfair LLC<br> 7.250%, 10/31/2029 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;104367 |
|  |  | 1695854 |
| **Consumer staples – 1.8%** |  |  |
| Bacardi, Ltd.<br> 5.400%, 06/15/2033 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;101101 |
| BAT Capital Corp.<br> 5.834%, 02/20/2031 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;74265 |
| Bellis Acquisition Company PLC<br> 8.125%, 05/14/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;125362 |
| JBS USA Lux SA |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 01/15/2036 (C) | $130000 | &nbsp;&nbsp;&nbsp;&nbsp;132101 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;62683 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/20/2035 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;57832 |
| &nbsp;&nbsp;&nbsp;6.250%, 03/01/2056 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;29858 |
| &nbsp;&nbsp;&nbsp;6.375%, 04/15/2066 (C) | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;323595 |
| &nbsp;&nbsp;&nbsp;6.750%, 03/15/2034 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;60764 |
| &nbsp;&nbsp;&nbsp;7.250%, 11/15/2053 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;61568 |
| Kenvue, Inc.<br> 4.850%, 05/22/2032 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;138048 |
| Keurig Dr. Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 03/15/2031 | 202000 | &nbsp;&nbsp;&nbsp;&nbsp;180194 |
| &nbsp;&nbsp;&nbsp;3.200%, 05/01/2030 | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;16149 |
| &nbsp;&nbsp;&nbsp;3.950%, 04/15/2029 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;69203 |
| &nbsp;&nbsp;&nbsp;4.050%, 04/15/2032 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;91314 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2052 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;125270 |
| &nbsp;&nbsp;&nbsp;4.600%, 05/15/2030 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10052 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/15/2035 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;80156 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/15/2031 | &nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;&nbsp;76041 |
| &nbsp;&nbsp;&nbsp;5.300%, 03/15/2034 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;56083 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 03/01/2028 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20274 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2032 (C) | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;407144 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/01/2035 (C) | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;164453 |
| &nbsp;&nbsp;&nbsp;5.650%, 05/01/2045 (C) | 425000 | &nbsp;&nbsp;&nbsp;&nbsp;428406 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/01/2065 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;60209 |
| Performance Food Group, Inc.<br> 4.250%, 08/01/2029 (C) | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;107545 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 11/01/2027 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;80702 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/01/2031 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;127631 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/15/2030 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;217072 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/13/2031 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;119163 |
| &nbsp;&nbsp;&nbsp;5.375%, 02/15/2033 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;88883 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/17/2029 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15769 |
| &nbsp;&nbsp;&nbsp;5.625%, 09/07/2033 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;42428 |
| Pilgrim's Pride Corp.<br> 4.250%, 04/15/2031 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;107389 |
|  |  | 3858707 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy – 3.1%** |  |  |
| Aker BP ASA<br> 5.800%, 10/01/2054 (C) | $300000 | $272758 |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;5.850%, 11/15/2043 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;28133 |
| &nbsp;&nbsp;&nbsp;6.750%, 02/01/2030 (C) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;73483 |
| CD&R Firefly Bidco PLC<br> 8.625%, 04/30/2029 | 100000 | 141086 |
| Cheniere Energy Partners LP<br> 5.550%, 10/30/2035 (C) | $205000 | 209588 |
| Columbia Pipelines Holding<br> Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.999%, 11/17/2032 (C) | 140000 | 139988 |
| &nbsp;&nbsp;&nbsp;5.097%, 10/01/2031 (C) | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;41692 |
| &nbsp;&nbsp;&nbsp;5.681%, 01/15/2034 (C) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;77275 |
| Columbia Pipelines Operating Company LLC<br> 6.036%, 11/15/2033 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;42818 |
| ConocoPhillips Company |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 03/15/2052 | 117000 | &nbsp;&nbsp;&nbsp;85827 |
| &nbsp;&nbsp;&nbsp;4.025%, 03/15/2062 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;25428 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2053 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;27946 |
| &nbsp;&nbsp;&nbsp;5.550%, 03/15/2054 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;9622 |
| &nbsp;&nbsp;&nbsp;5.650%, 01/15/2065 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;86415 |
| &nbsp;&nbsp;&nbsp;5.700%, 09/15/2063 | 120000 | 115612 |
| Coterra Energy, Inc.<br> 5.600%, 03/15/2034 | &nbsp;&nbsp;98000 | 100974 |
| Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 04/18/2034 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;97273 |
| &nbsp;&nbsp;&nbsp;5.550%, 04/01/2035 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25696 |
| &nbsp;&nbsp;&nbsp;5.900%, 04/18/2064 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;37759 |
| &nbsp;&nbsp;&nbsp;6.250%, 03/15/2053 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35334 |
| DT Midstream, Inc.<br> 5.800%, 12/15/2034 (C) | 115000 | 119346 |
| Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;7.750%, 02/01/2032 | 175000 | 180091 |
| &nbsp;&nbsp;&nbsp;8.375%, 01/19/2036 | 150000 | 154317 |
| Energy Transfer LP<br> 5.000%, 05/15/2050 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;58565 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 02/15/2053 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;26710 |
| &nbsp;&nbsp;&nbsp;4.600%, 01/15/2031 | 225000 | 227764 |
| &nbsp;&nbsp;&nbsp;5.200%, 01/15/2036 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25449 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/16/2055 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;77529 |
| EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, 01/15/2031 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;20078 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/15/2032 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;81943 |
| &nbsp;&nbsp;&nbsp;5.350%, 01/15/2036 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;51378 |
| &nbsp;&nbsp;&nbsp;5.650%, 12/01/2054 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;39122 |
| Galaxy Pipeline Assets Bidco, Ltd.<br> 2.940%, 09/30/2040 (C) | 173276 | 147397 |
| Hess Corp.<br> 7.125%, 03/15/2033 | 115000 | 133090 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/15/2030 (C) | 290000 | 283645 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/01/2029 (C) | 135000 | 139415 |
| Matador Resources Company<br> 6.500%, 04/15/2032 (C) | 100000 | 101416 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, 02/15/2031 | 180000 | 181890 |
| &nbsp;&nbsp;&nbsp;5.000%, 01/15/2033 | 210000 | 210749 |
| &nbsp;&nbsp;&nbsp;5.400%, 09/15/2035 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;75558 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2034 | 255000 | 260149 |
| Northriver Midstream Finance LP<br> 6.750%, 07/15/2032 (C) | 100000 | 101905 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 41 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 03/15/2030 | $&nbsp;&nbsp;10000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9508 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/15/2031 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;155824 |
| &nbsp;&nbsp;&nbsp;5.050%, 11/01/2034 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;208125 |
| &nbsp;&nbsp;&nbsp;5.400%, 10/15/2035 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;85883 |
| &nbsp;&nbsp;&nbsp;6.050%, 09/01/2033 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;90421 |
| &nbsp;&nbsp;&nbsp;6.100%, 11/15/2032 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;32103 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2053 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10473 |
| &nbsp;&nbsp;&nbsp;7.150%, 01/15/2051 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10980 |
| Phillips 66 Company<br> 5.875%, (5.875% to 3-15-31, then 5 Year CMT + 2.283%), 03/15/2056 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;93984 |
| Plains All American Pipeline LP<br> 5.600%, 01/15/2036 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;106214 |
| Rockies Express Pipeline LLC<br> 6.750%, 03/15/2033 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;105532 |
| SM Energy Company<br> 6.750%, 08/01/2029 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100734 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 09/15/2030 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;50944 |
| &nbsp;&nbsp;&nbsp;5.400%, 07/30/2036 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;145167 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/15/2035 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;189349 |
| &nbsp;&nbsp;&nbsp;5.650%, 02/15/2036 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;97583 |
| &nbsp;&nbsp;&nbsp;6.500%, 03/30/2034 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;21828 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;119274 |
| TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;5.425%, 09/10/2064 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;60834 |
| &nbsp;&nbsp;&nbsp;5.638%, 04/05/2064 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;140046 |
| USA Compression Partners LP<br> 6.250%, 10/01/2033 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;50600 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 12/15/2030 (C) | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;168027 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/01/2033 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;108050 |
| Whistler Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.700%, 09/30/2031 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;88213 |
| &nbsp;&nbsp;&nbsp;5.950%, 09/30/2034 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;51704 |
|  |  | 6673613 |
| **Financials – 5.7%** |  |  |
| Acrisure LLC<br> 7.500%, 11/06/2030 (C) | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;124998 |
| American Express Company |  |  |
| &nbsp;&nbsp;&nbsp;5.016%, (5.016% to 4-25-30, then Overnight SOFR + 1.440%), 04/25/2031 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;190651 |
| &nbsp;&nbsp;&nbsp;5.085%, (5.085% to 1-30-30, then SOFR Compounded Index + 1.020%), 01/30/2031 | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;164921 |
| Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 01/15/2031 (C) | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;171732 |
| &nbsp;&nbsp;&nbsp;5.800%, 09/09/2030 (C) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;151452 |
| Arthur J. Gallagher & Company<br> 5.150%, 02/15/2035 | 340000 | &nbsp;&nbsp;&nbsp;&nbsp;343558 |
| Asurion LLC<br> 8.000%, 12/31/2032 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;31128 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;2.646%, 10/04/2031 (C)(E) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;176858 |
| &nbsp;&nbsp;&nbsp;2.717%, 01/07/2029 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;52031 |
| &nbsp;&nbsp;&nbsp;4.721%, 10/08/2029 (C) | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;140009 |
| Banca Comerciala Romana SA<br> 7.625%, (7.625% to 5-19-26, then 3 month EURIBOR + 4.539%), 05/19/2027 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;119648 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Banca Transilvania SA<br> 8.875%, (8.875% to 4-27-26, then 1 Year EURIBOR ICE Swap Rate + 5.580%), 04/27/2027 | 100000 | $119832 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.898%, (1.898% to 7-23-30, then Overnight SOFR + 1.530%), 07/23/2031 | $110000 | &nbsp;&nbsp;&nbsp;98807 |
| &nbsp;&nbsp;&nbsp;1.922%, (1.922% to 10-24-30, then Overnight SOFR + 1.370%), 10/24/2031 | 215000 | 192264 |
| &nbsp;&nbsp;&nbsp;2.482%, (2.482% to 9-21-31, then 5 Year CMT + 1.200%), 09/21/2036 | 130000 | 114083 |
| &nbsp;&nbsp;&nbsp;2.972%, (2.972% to 2-4-32, then Overnight SOFR + 1.330%), 02/04/2033 | 115000 | 105168 |
| &nbsp;&nbsp;&nbsp;4.376%, (4.376% to 4-27-27, then Overnight SOFR + 1.580%), 04/27/2028 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;40160 |
| &nbsp;&nbsp;&nbsp;5.518%, (5.518% to 10-25-34, then Overnight SOFR + 1.738%), 10/25/2035 | 155000 | 158754 |
| Blackstone Secured Lending Fund<br> 5.125%, 01/31/2031 (E) | 305000 | 301203 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;5.389%, (5.389% to 5-28-30, then Overnight SOFR + 1.581%), 05/28/2031 (C) | 500000 | 513236 |
| &nbsp;&nbsp;&nbsp;5.876%, (5.876% to 1-14-30, then Overnight SOFR + 1.680%), 01/14/2031 (C) | 250000 | 261147 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.493%, (4.493% to 9-11-30, then Overnight SOFR + 1.250%), 09/11/2031 | 140000 | 139795 |
| &nbsp;&nbsp;&nbsp;6.183%, (6.183% to 1-30-35, then Overnight SOFR + 2.036%), 01/30/2036 | 120000 | 125266 |
| &nbsp;&nbsp;&nbsp;7.624%, (7.624% to 10-30-30, then Overnight SOFR + 3.070%), 10/30/2031 | 190000 | 214728 |
| &nbsp;&nbsp;&nbsp;7.964%, (7.964% to 11-2-33, then SOFR Compounded Index + 3.370%), 11/02/2034 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;53055 |
| Citibank NA<br> 4.914%, 05/29/2030 | 250000 | 257177 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.503%, (4.503% to 9-11-30, then Overnight SOFR + 1.171%), 09/11/2031 | 175000 | 175542 |
| &nbsp;&nbsp;&nbsp;4.952%, (4.952% to 5-7-30, then Overnight SOFR + 1.463%), 05/07/2031 | 155000 | 158315 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.253%, (5.253% to 3-5-30, then Overnight SOFR + 1.259%), 03/05/2031 | 115000 | 118168 |
| &nbsp;&nbsp;&nbsp;6.645%, (6.645% to 4-25-34, then Overnight SOFR + 2.325%), 04/25/2035 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;32987 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;4.818%, (4.818% to 9-25-32, then Overnight SOFR + 1.360%), 09/25/2033 (C) | 250000 | 249673 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 42 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Credit Agricole SA (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.222%, (5.222% to 5-27-30, then Overnight SOFR + 1.460%), 05/27/2031 (C) | $250000 | $256654 |
| &nbsp;&nbsp;&nbsp;6.251%, (6.251% to 1-10-34, then Overnight SOFR + 2.670%), 01/10/2035 (C) | 250000 | 265428 |
| CrossCountry Intermediate HoldCo LLC<br> 6.500%, 10/01/2030 (C) | 100000 | 102000 |
| Equitable America Global Funding<br> 4.700%, 09/15/2032 (C) | 240000 | 238777 |
| Equitable Financial Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;1.800%, 03/08/2028 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;28558 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/27/2030 (C) | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;81783 |
| Equitable Holdings, Inc.<br> 4.350%, 04/20/2028 | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;32119 |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, 04/01/2033 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;51778 |
| &nbsp;&nbsp;&nbsp;9.250%, 02/01/2029 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;52442 |
| GA Global Funding Trust<br> 4.500%, 09/18/2030 (C) | 295000 | 291476 |
| HPS Corporate Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, 11/15/2030 (C) | 150000 | 149560 |
| &nbsp;&nbsp;&nbsp;5.850%, 06/05/2030 (C) | 125000 | 126490 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.619%, (4.619% to 11-6-30, then Overnight SOFR + 1.190%), 11/06/2031 | 200000 | 200617 |
| &nbsp;&nbsp;&nbsp;5.240%, (5.240% to 5-13-30, then Overnight SOFR + 1.570%), 05/13/2031 | 400000 | 412111 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.545%, (2.545% to 11-8-31, then Overnight SOFR + 1.180%), 11/08/2032 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;67680 |
| &nbsp;&nbsp;&nbsp;2.580%, (2.580% to 4-22-31, then 3 month CME Term SOFR + 1.250%), 04/22/2032 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;36562 |
| &nbsp;&nbsp;&nbsp;3.702%, (3.702% to 5-6-29, then 3 month CME Term SOFR + 1.422%), 05/06/2030 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;64021 |
| &nbsp;&nbsp;&nbsp;4.005%, (4.005% to 4-23-28, then 3 month CME Term SOFR + 1.382%), 04/23/2029 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;59942 |
| &nbsp;&nbsp;&nbsp;4.255%, (4.255% to 10-22-30, then Overnight SOFR + 0.930%), 10/22/2031 | 230000 | 229302 |
| &nbsp;&nbsp;&nbsp;4.505%, (4.505% to 10-22-27, then Overnight SOFR + 0.860%), 10/22/2028 | 185000 | 186813 |
| &nbsp;&nbsp;&nbsp;4.946%, (4.946% to 10-22-34, then Overnight SOFR + 1.340%), 10/22/2035 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30296 |
| &nbsp;&nbsp;&nbsp;4.995%, (4.995% to 7-22-29, then Overnight SOFR + 1.125%), 07/22/2030 | 185000 | 189928 |
| &nbsp;&nbsp;&nbsp;5.103%, (5.103% to 4-22-30, then Overnight SOFR + 1.435%), 04/22/2031 | 220000 | 227145 |
| &nbsp;&nbsp;&nbsp;5.299%, (5.299% to 7-24-28, then Overnight SOFR + 1.450%), 07/24/2029 | 175000 | 180346 |
| &nbsp;&nbsp;&nbsp;5.336%, (5.336% to 1-23-34, then Overnight SOFR + 1.620%), 01/23/2035 | 130000 | 134734 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| JPMorgan Chase & Co. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.576%, (5.576% to 7-23-35, then Overnight SOFR + 1.635%), 07/23/2036 | $190000 | $196545 |
| &nbsp;&nbsp;&nbsp;5.581%, (5.581% to 4-22-29, then Overnight SOFR + 1.160%), 04/22/2030 | 195000 | 203429 |
| Lincoln Financial Global Funding<br> 4.625%, 05/28/2028 (C) | 125000 | 126187 |
| mBank SA<br> 0.966%, (0.966% to 9-21-26, then 3 month EURIBOR + 1.250%), 09/21/2027 | 100000 | 115524 |
| Metro Bank Holdings PLC<br> 12.000%, (12.000% to 4-30-28, then 1 Year United Kingdom GILT Rate + 7.814%), 04/30/2029 | 100000 | 153669 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;1.928%, (1.928% to 4-28-31, then Overnight SOFR + 1.020%), 04/28/2032 | $200000 | 175472 |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then Overnight SOFR + 1.178%), 07/21/2032 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;75530 |
| &nbsp;&nbsp;&nbsp;4.210%, (4.210% to 4-20-27, then Overnight SOFR + 1.610%), 04/20/2028 | 105000 | 105241 |
| &nbsp;&nbsp;&nbsp;5.230%, (5.230% to 1-15-30, then Overnight SOFR + 1.108%), 01/15/2031 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;51574 |
| &nbsp;&nbsp;&nbsp;5.449%, (5.449% to 7-20-28, then Overnight SOFR + 1.630%), 07/20/2029 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;56757 |
| &nbsp;&nbsp;&nbsp;5.656%, (5.656% to 4-18-29, then Overnight SOFR + 1.260%), 04/18/2030 | 160000 | 166692 |
| OTP Bank NYRT<br> 7.500%, (7.500% to 5-25-26, then 1 Year CMT + 3.711%), 05/25/2027 | 200000 | 201980 |
| Royal Bank of Canada<br> 5.153%, (5.153% to 2-4-30, then Overnight SOFR + 1.030%), 02/04/2031 | 160000 | 164722 |
| Standard Chartered PLC<br> 7.767%, (7.767% to 11-16-27, then 1 Year CMT + 3.450%), 11/16/2028 (C) | 200000 | 212950 |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 10/28/2031 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;76259 |
| &nbsp;&nbsp;&nbsp;5.450%, (5.450% to 3-6-30, then Overnight SOFR + 1.680%), 03/06/2031 | 140000 | 143542 |
| &nbsp;&nbsp;&nbsp;6.000%, (6.000% to 7-29-35, then Overnight SOFR + 2.070%), 07/29/2036 | 190000 | 195024 |
| The Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.060%, (5.060% to 7-22-31, then Overnight SOFR + 1.230%), 07/22/2032 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;77733 |
| &nbsp;&nbsp;&nbsp;6.317%, (6.317% to 10-25-28, then Overnight SOFR + 1.598%), 10/25/2029 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21234 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.615%, (2.615% to 4-22-31, then Overnight SOFR + 1.281%), 04/22/2032 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;18236 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 43 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| The Goldman Sachs<br> Group, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.482%, (4.482% to 8-23-27, then Overnight SOFR + 1.725%), 08/23/2028 | $&nbsp;&nbsp;15000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15105 |
| &nbsp;&nbsp;&nbsp;4.692%, (4.692% to 10-23-29, then Overnight SOFR + 1.135%), 10/23/2030 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;192592 |
| &nbsp;&nbsp;&nbsp;5.016%, (5.016% to 10-23-34, then Overnight SOFR + 1.420%), 10/23/2035 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55294 |
| &nbsp;&nbsp;&nbsp;5.049%, (5.049% to 7-23-29, then Overnight SOFR + 1.210%), 07/23/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;102461 |
| &nbsp;&nbsp;&nbsp;5.218%, (5.218% to 4-23-30, then Overnight SOFR + 1.580%), 04/23/2031 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67135 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.572%, (2.572% to 2-11-30, then 3 month CME Term SOFR + 1.262%), 02/11/2031 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93398 |
| &nbsp;&nbsp;&nbsp;2.879%, (2.879% to 10-30-29, then 3 month CME Term SOFR + 1.432%), 10/30/2030 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28539 |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then Overnight SOFR + 1.500%), 03/02/2033 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 |
| &nbsp;&nbsp;&nbsp;4.897%, (4.897% to 7-25-32, then Overnight SOFR + 2.100%), 07/25/2033 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96478 |
| &nbsp;&nbsp;&nbsp;5.150%, (5.150% to 4-23-30, then Overnight SOFR + 1.500%), 04/23/2031 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67093 |
| &nbsp;&nbsp;&nbsp;5.244%, (5.244% to 1-24-30, then Overnight SOFR + 1.110%), 01/24/2031 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72486 |
| &nbsp;&nbsp;&nbsp;5.574%, (5.574% to 7-25-28, then Overnight SOFR + 1.740%), 07/25/2029 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46614 |
| &nbsp;&nbsp;&nbsp;6.491%, (6.491% to 10-23-33, then Overnight SOFR + 2.060%), 10/23/2034 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60882 |
|  |  | 12271285 |
| **Health care – 2.0%** |  |  |
| Acadia Healthcare Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 04/15/2029 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24071 |
| &nbsp;&nbsp;&nbsp;7.375%, 03/15/2033 (C)(E) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;101000 |
| Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 11/01/2029 (C) | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;124313 |
| &nbsp;&nbsp;&nbsp;4.625%, 07/15/2028 (C) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74592 |
| Baxter International, Inc.<br> 4.900%, 12/15/2030 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;176340 |
| Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2030 | 285000 | &nbsp;&nbsp;&nbsp;&nbsp;287700 |
| &nbsp;&nbsp;&nbsp;5.000%, 11/15/2029 | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;210539 |
| Cencora, Inc.<br> 4.850%, 12/15/2029 | 195000 | &nbsp;&nbsp;&nbsp;&nbsp;199326 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 03/01/2031 | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;233164 |
| &nbsp;&nbsp;&nbsp;2.625%, 08/01/2031 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;103217 |
| Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2031 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26727 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/15/2029 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26700 |
| &nbsp;&nbsp;&nbsp;10.875%, 01/15/2032 (C) | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25103 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 08/21/2030 | $&nbsp;&nbsp;55000 | $&nbsp;&nbsp;&nbsp;&nbsp;48852 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/28/2031 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;26322 |
| &nbsp;&nbsp;&nbsp;2.125%, 09/15/2031 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;61493 |
| &nbsp;&nbsp;&nbsp;4.300%, 03/25/2028 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;170563 |
| GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 12/15/2035 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;24945 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/15/2035 | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;249345 |
| Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/2031 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;155083 |
| &nbsp;&nbsp;&nbsp;5.550%, 05/01/2035 | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;163352 |
| Royalty Pharma PLC<br> 5.200%, 09/25/2035 | 405000 | &nbsp;&nbsp;&nbsp;&nbsp;407048 |
| Star Parent, Inc.<br> 9.000%, 10/01/2030 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;106721 |
| The Cigna Group<br> 4.875%, 09/15/2032 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;167147 |
| Thermo Fisher Scientific, Inc.<br> 4.473%, 10/07/2032 | 365000 | &nbsp;&nbsp;&nbsp;&nbsp;366163 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 05/15/2040 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;115919 |
| &nbsp;&nbsp;&nbsp;3.500%, 08/15/2039 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;58286 |
| &nbsp;&nbsp;&nbsp;3.700%, 08/15/2049 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;33412 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/15/2062 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;25973 |
| &nbsp;&nbsp;&nbsp;5.300%, 02/15/2030 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15638 |
| &nbsp;&nbsp;&nbsp;5.300%, 06/15/2035 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;56945 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/2054 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;117944 |
| &nbsp;&nbsp;&nbsp;5.750%, 07/15/2064 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;24408 |
| &nbsp;&nbsp;&nbsp;6.050%, 02/15/2063 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10213 |
| Viatris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, 06/22/2040 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;107470 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/22/2050 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;46617 |
| VSP Optical Group, Inc.<br> 5.450%, 12/01/2035 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;25166 |
|  |  | 4197817 |
| **Industrials – 1.0%** |  |  |
| Allied Universal Holdco LLC<br> 7.875%, 02/15/2031 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;105388 |
| CP Atlas Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.750%, 07/15/2030 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;51787 |
| &nbsp;&nbsp;&nbsp;12.750%, (7.000% Cash and 5.750% PIK), 01/15/2031 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;23686 |
| CSX Corp.<br> 5.050%, 06/15/2035 | 340000 | &nbsp;&nbsp;&nbsp;&nbsp;345829 |
| Element Fleet Management Corp.<br> 4.641%, 11/24/2030 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;200558 |
| JetBlue Airways Corp.<br> 9.875%, 09/20/2031 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55410 |
| Siemens Funding BV<br> 4.600%, 05/28/2030 (C) | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;209202 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 02/01/2030 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;42634 |
| &nbsp;&nbsp;&nbsp;3.200%, 03/01/2029 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;33932 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/01/2050 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7273 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/01/2030 | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;226052 |
| &nbsp;&nbsp;&nbsp;5.705%, 05/01/2040 | 295000 | &nbsp;&nbsp;&nbsp;&nbsp;301130 |
| &nbsp;&nbsp;&nbsp;6.388%, 05/01/2031 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;54260 |
| &nbsp;&nbsp;&nbsp;7.008%, 05/01/2064 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;28406 |
| Uber Technologies, Inc.<br> 4.800%, 09/15/2035 | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;288469 |
| Wabtec Corp.<br> 4.900%, 05/29/2030 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;133013 |
|  |  | 2107029 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 44 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology – 2.0%** |  |  |
| Applied Materials, Inc.<br> 4.600%, 01/15/2036 | $165000 | $&nbsp;&nbsp;&nbsp;&nbsp;162480 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.150%, 02/15/2028 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;65220 |
| &nbsp;&nbsp;&nbsp;4.200%, 10/15/2030 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;149886 |
| &nbsp;&nbsp;&nbsp;5.050%, 07/12/2029 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;66923 |
| &nbsp;&nbsp;&nbsp;5.200%, 07/15/2035 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;174176 |
| EchoStar Corp.<br> 6.750%, (6.750% Cash and 0.000% PIK), 11/30/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;102447 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.900%, 01/25/2033 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;209269 |
| &nbsp;&nbsp;&nbsp;6.150%, 01/25/2032 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;211938 |
| Great Canadian Gaming Corp.<br> 8.750%, 11/15/2029 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55558 |
| Hewlett Packard Enterprise Company<br> 5.600%, 10/15/2054 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;185300 |
| IBM Corp.<br> 4.800%, 02/10/2030 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;178986 |
| Imola Merger Corp.<br> 4.750%, 05/15/2029 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;98702 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 02/15/2060 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;33521 |
| &nbsp;&nbsp;&nbsp;3.250%, 11/15/2049 | 151000 | &nbsp;&nbsp;&nbsp;&nbsp;96465 |
| &nbsp;&nbsp;&nbsp;3.734%, 12/08/2047 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;231268 |
| &nbsp;&nbsp;&nbsp;4.100%, 05/11/2047 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;52915 |
| &nbsp;&nbsp;&nbsp;4.150%, 08/05/2032 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;53034 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/25/2050 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8161 |
| Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 04/15/2028 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;77045 |
| &nbsp;&nbsp;&nbsp;2.950%, 04/15/2031 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;106511 |
| McAfee Corp.<br> 7.375%, 02/15/2030 (C) | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;100289 |
| Micron Technology, Inc.<br> 5.650%, 11/01/2032 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;162927 |
| Open Text Corp.<br> 3.875%, 12/01/2029 (C) | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;147100 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 04/01/2050 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;77864 |
| &nbsp;&nbsp;&nbsp;3.650%, 03/25/2041 | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;13131 |
| &nbsp;&nbsp;&nbsp;3.850%, 04/01/2060 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;106933 |
| &nbsp;&nbsp;&nbsp;3.950%, 03/25/2051 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;75665 |
| &nbsp;&nbsp;&nbsp;4.100%, 03/25/2061 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;19324 |
| &nbsp;&nbsp;&nbsp;4.700%, 09/27/2034 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;125183 |
| &nbsp;&nbsp;&nbsp;4.800%, 09/26/2032 | 465000 | &nbsp;&nbsp;&nbsp;&nbsp;448921 |
| &nbsp;&nbsp;&nbsp;4.900%, 02/06/2033 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9624 |
| &nbsp;&nbsp;&nbsp;5.375%, 09/27/2054 | &nbsp;&nbsp;82000 | &nbsp;&nbsp;&nbsp;&nbsp;66319 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/27/2064 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;35912 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | &nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;&nbsp;60581 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/03/2055 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;79361 |
| Qorvo, Inc.<br> 3.375%, 04/01/2031 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;185029 |
| Qualcomm, Inc.<br> 4.750%, 05/20/2032 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;76608 |
| Rocket Software, Inc.<br> 6.500%, 02/15/2029 (C) | &nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;67618 |
| WULF Compute LLC<br> 7.750%, 10/15/2030 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;56664 |
|  |  | 4234858 |
| **Materials – 0.9%** |  |  |
| Anglo American Capital PLC<br> 4.500%, 03/15/2028 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;201142 |
| Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 04/15/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100500 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/15/2031 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10239 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Materials (continued)** |  |  |
| Celanese US Holdings LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, 02/15/2034 | $&nbsp;&nbsp;25000 | $&nbsp;&nbsp;&nbsp;&nbsp;25399 |
| Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 04/15/2029 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55960 |
| &nbsp;&nbsp;&nbsp;8.750%, 04/15/2030 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55917 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.371%, 04/04/2029 (C) | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;123843 |
| &nbsp;&nbsp;&nbsp;5.634%, 04/04/2034 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;41792 |
| &nbsp;&nbsp;&nbsp;6.375%, 10/06/2030 (C) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;182952 |
| &nbsp;&nbsp;&nbsp;6.500%, 10/06/2033 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;55222 |
| Itelyum Regeneration SpA<br> 5.750%, 04/15/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;117069 |
| JH North America Holdings, Inc.<br> 6.125%, 07/31/2032 (C) | $100000 | &nbsp;&nbsp;&nbsp;&nbsp;102656 |
| Kaiser Aluminum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 06/01/2031 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;48306 |
| &nbsp;&nbsp;&nbsp;5.875%, 03/01/2034 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55173 |
| LYB International Finance III LLC<br> 5.125%, 01/15/2031 | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;205761 |
| Mauser Packaging Solutions Holding Company<br> 9.250%, 04/15/2030 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;96000 |
| Rio Tinto Alcan, Inc.<br> 6.125%, 12/15/2033 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;109413 |
| Rio Tinto Finance USA PLC<br> 5.000%, 03/14/2032 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;36139 |
| The Sherwin-Williams Company<br> 5.150%, 08/15/2035 | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;208609 |
| TriMas Corp.<br> 4.125%, 04/15/2029 (C) | &nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;&nbsp;61266 |
| Tronox, Inc.<br> 4.625%, 03/15/2029 (C)(E) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;45504 |
|  |  | 1938862 |
| **Real estate – 0.4%** |  |  |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 04/01/2031 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;26476 |
| &nbsp;&nbsp;&nbsp;2.250%, 01/15/2031 | 245000 | &nbsp;&nbsp;&nbsp;&nbsp;218836 |
| &nbsp;&nbsp;&nbsp;3.100%, 11/15/2029 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;142922 |
| Hudson Pacific Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.650%, 04/01/2029 (E) | &nbsp;&nbsp;57000 | &nbsp;&nbsp;&nbsp;&nbsp;52689 |
| &nbsp;&nbsp;&nbsp;5.950%, 02/15/2028 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;54175 |
| Outfront Media Capital LLC<br> 7.375%, 02/15/2031 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;105846 |
| Prologis Targeted U.S. Logistics<br> Fund LP |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 01/15/2031 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;59557 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2036 (C) | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;175815 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;836316 |
| **Utilities – 5.0%** |  |  |
| AES Andes SA<br> 6.250%, 03/14/2032 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;208426 |
| Alabama Power Company |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, 10/01/2049 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;53340 |
| &nbsp;&nbsp;&nbsp;4.150%, 08/15/2044 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;87704 |
| &nbsp;&nbsp;&nbsp;5.100%, 04/02/2035 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20472 |
| Arizona Public Service Company<br> 5.700%, 08/15/2034 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;110379 |
| Baltimore Gas & Electric Company<br> 5.450%, 06/01/2035 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;108794 |
| Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 02/15/2031 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;56033 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/15/2028 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;54880 |
| Cleco Corporate Holdings LLC<br> 3.375%, 09/15/2029 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;84637 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 45 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Consolidated Edison Company of New<br> York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 12/01/2051 | $120000 | $&nbsp;&nbsp;&nbsp;79680 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/15/2055 | 110000 | 106634 |
| &nbsp;&nbsp;&nbsp;5.750%, 11/15/2055 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;79774 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2030 | 140000 | 143841 |
| &nbsp;&nbsp;&nbsp;6.000%, (6.000% to 2-15-31, then 5 Year CMT + 2.262%), 02/15/2056 | 520000 | 522399 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 06/15/2031 | 305000 | 277732 |
| &nbsp;&nbsp;&nbsp;3.300%, 06/15/2041 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;38546 |
| &nbsp;&nbsp;&nbsp;4.950%, 09/15/2035 | 245000 | 242944 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/15/2052 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;30899 |
| &nbsp;&nbsp;&nbsp;5.450%, 06/15/2034 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5206 |
| Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 06/15/2030 | 115000 | 103742 |
| &nbsp;&nbsp;&nbsp;4.850%, 12/01/2035 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;49782 |
| Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 04/01/2050 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;49973 |
| &nbsp;&nbsp;&nbsp;3.250%, 10/01/2049 | 105000 | &nbsp;&nbsp;&nbsp;71638 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 10/15/2046 | 125000 | &nbsp;&nbsp;&nbsp;95268 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2035 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;66091 |
| &nbsp;&nbsp;&nbsp;5.550%, 03/15/2055 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;39456 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 03/15/2032 | &nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;60986 |
| &nbsp;&nbsp;&nbsp;6.250%, 03/15/2030 | 150000 | 156795 |
| Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, 12/15/2030 | 150000 | 149160 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2033 | 200000 | 201992 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/01/2034 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;77084 |
| Georgia Power Company |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 03/15/2042 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;65628 |
| &nbsp;&nbsp;&nbsp;4.850%, 03/15/2031 | 290000 | 297538 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/15/2035 | 130000 | 133427 |
| Greensaif Pipelines Bidco Sarl<br> 5.853%, 02/23/2036 (C) | 200000 | 208964 |
| Interstate Power & Light Company<br> 5.600%, 06/29/2035 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;78053 |
| Jersey Central Power & Light Company<br> 5.100%, 01/15/2035 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35393 |
| Monongahela Power Company<br> 5.850%, 02/15/2034 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15852 |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.490%, 05/15/2027 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;84449 |
| &nbsp;&nbsp;&nbsp;5.350%, 07/15/2035 | 185000 | 189143 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/30/2033 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;36296 |
| NSTAR Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 03/01/2035 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;56141 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/01/2034 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;77682 |
| Ohio Edison Company<br> 5.500%, 01/15/2033 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;36452 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 02/01/2031 | 340000 | 305987 |
| &nbsp;&nbsp;&nbsp;3.300%, 08/01/2040 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;30278 |
| &nbsp;&nbsp;&nbsp;3.500%, 08/01/2050 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;20229 |
| &nbsp;&nbsp;&nbsp;4.300%, 03/15/2045 | &nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;38075 |
| &nbsp;&nbsp;&nbsp;4.550%, 07/01/2030 | 100000 | &nbsp;&nbsp;&nbsp;99570 |
| &nbsp;&nbsp;&nbsp;4.600%, 06/15/2043 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;16691 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2044 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;33780 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;27047 |
| &nbsp;&nbsp;&nbsp;5.050%, 10/15/2032 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;90502 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/15/2034 | 280000 | 290799 |
| &nbsp;&nbsp;&nbsp;5.900%, 06/15/2032 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;26174 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Pacific Gas &<br> Electric Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.900%, 10/01/2054 | $145000 | $138969 |
| &nbsp;&nbsp;&nbsp;6.100%, 01/15/2029 | 160000 | 167338 |
| &nbsp;&nbsp;&nbsp;6.150%, 01/15/2033 | 105000 | 111415 |
| &nbsp;&nbsp;&nbsp;6.700%, 04/01/2053 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;36933 |
| &nbsp;&nbsp;&nbsp;6.750%, 01/15/2053 | 165000 | 175482 |
| &nbsp;&nbsp;&nbsp;6.950%, 03/15/2034 | 145000 | 161257 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 01/15/2049 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;22360 |
| &nbsp;&nbsp;&nbsp;5.350%, 12/01/2053 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;56990 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/15/2054 | 115000 | 102771 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2037 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;40537 |
| &nbsp;&nbsp;&nbsp;5.800%, 01/15/2055 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;4666 |
| &nbsp;&nbsp;&nbsp;6.250%, 10/15/2037 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10438 |
| Pinnacle West Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 05/15/2028 | 131000 | 133352 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/15/2030 | 115000 | 118497 |
| Public Service Company of Oklahoma<br> 5.200%, 01/15/2035 | 215000 | 217325 |
| Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 03/15/2030 | 195000 | 199398 |
| &nbsp;&nbsp;&nbsp;5.450%, 04/01/2034 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15496 |
| &nbsp;&nbsp;&nbsp;6.125%, 10/15/2033 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;53803 |
| Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.100%, 06/15/2030 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;21544 |
| &nbsp;&nbsp;&nbsp;4.224%, 03/15/2032 | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;7671 |
| &nbsp;&nbsp;&nbsp;5.725%, 03/15/2035 | 380000 | 389939 |
| San Diego Gas & Electric Company<br> 5.400%, 04/15/2035 | 145000 | 150084 |
| Southern California Edison Company |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, 02/01/2050 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;24473 |
| &nbsp;&nbsp;&nbsp;3.900%, 03/15/2043 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;7687 |
| &nbsp;&nbsp;&nbsp;4.000%, 04/01/2047 | &nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;62991 |
| &nbsp;&nbsp;&nbsp;4.125%, 03/01/2048 | 145000 | 110053 |
| &nbsp;&nbsp;&nbsp;4.650%, 10/01/2043 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;17004 |
| &nbsp;&nbsp;&nbsp;5.200%, 06/01/2034 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;47203 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/01/2035 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;86179 |
| &nbsp;&nbsp;&nbsp;5.450%, 06/01/2052 | &nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;86243 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/01/2053 | &nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;75173 |
| &nbsp;&nbsp;&nbsp;5.875%, 12/01/2053 | 135000 | 129262 |
| &nbsp;&nbsp;&nbsp;5.900%, 03/01/2055 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;33790 |
| &nbsp;&nbsp;&nbsp;5.950%, 11/01/2032 | 125000 | 132235 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/15/2034 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;41975 |
| Southern California Gas Company |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, 04/01/2054 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;48937 |
| &nbsp;&nbsp;&nbsp;6.000%, 06/15/2055 | 175000 | 179679 |
| Southern Company Gas Capital Corp.<br> 5.100%, 09/15/2035 | 145000 | 146111 |
| Southern Power Company<br> 4.900%, 10/01/2035 | 110000 | 108815 |
| Trans-Allegheny Interstate Line Company<br> 5.000%, 01/15/2031 (C) | 125000 | 128408 |
| Virginia Electric & Power Company |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 12/15/2050 | &nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;24705 |
| &nbsp;&nbsp;&nbsp;4.200%, 05/15/2045 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;8286 |
| &nbsp;&nbsp;&nbsp;4.900%, 09/15/2035 | 130000 | 129384 |
| &nbsp;&nbsp;&nbsp;5.000%, 04/01/2033 | 130000 | 133123 |
| &nbsp;&nbsp;&nbsp;5.000%, 01/15/2034 | 135000 | 136613 |
| &nbsp;&nbsp;&nbsp;5.050%, 08/15/2034 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;50625 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2035 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;86484 |
| &nbsp;&nbsp;&nbsp;5.350%, 01/15/2054 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;46875 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/15/2055 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;9791 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 46 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Wisconsin Power & Light Company<br> 5.375%, 03/30/2034 | $&nbsp;&nbsp;95000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97938 |
| Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 06/01/2032 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84534 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/21/2028 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;111426 |
| &nbsp;&nbsp;&nbsp;5.600%, 04/15/2035 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72490 |
| XPLR Infrastructure Operating Partners LP<br> 7.250%, 01/15/2029 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;102461 |
|  |  | 10625655 |
| TOTAL CORPORATE BONDS (Cost $53,349,719) |  | $53871398 |
| **CONVERTIBLE BONDS – 0.0%** | **CONVERTIBLE BONDS – 0.0%** |  |
| **Financials – 0.0%** |  |  |
| Mitsubishi UFJ Investor Services & Banking Luxembourg SA<br> 6.547%, (3 month EURIBOR + 4.500%), 12/15/2050 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75542 |
| TOTAL CONVERTIBLE BONDS (Cost $74,859) |  | $&nbsp;&nbsp;&nbsp;&nbsp;75542 |
| **MUNICIPAL BONDS – 0.9%** |  |  |
| Chicago Board of Education (Illinois), GO<br> 6.138%, 12/01/2039 | $155000 | &nbsp;&nbsp;&nbsp;&nbsp;145827 |
| Chicago Board of Education (Illinois), GO<br> 6.319%, 11/01/2029 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;119675 |
| County of Riverside (California)<br> 3.070%, 02/15/2028 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;589181 |
| Metropolitan Transportation Authority (New York)<br> 5.175%, 11/15/2049 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23082 |
| New York Transportation Development Corp.<br> 4.248%, 09/01/2035 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;395204 |
| Philadelphia Authority for Industrial Development (Pennsylvania)<br> 6.550%, 10/15/2028 | 675000 | &nbsp;&nbsp;&nbsp;&nbsp;717706 |
| TOTAL MUNICIPAL BONDS (Cost $2,161,192) | TOTAL MUNICIPAL BONDS (Cost $2,161,192) | $&nbsp;&nbsp;&nbsp;1990675 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 13.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 13.7%** |  |
| **Commercial and residential – 10.5%** |  |  |
| 280 Park Avenue Mortgage Trust<br> Series 2017-280P, Class E (1 month CME Term SOFR + 2.419%)<br> 6.197%, 09/15/2034 (C)(D) | 214000 | &nbsp;&nbsp;&nbsp;&nbsp;211448 |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-R1, Class A1,<br> 0.990%, 04/25/2053 (C)(F) | &nbsp;&nbsp;48539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46910 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.985%, 04/25/2066 (C)(F) | &nbsp;&nbsp;97308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84797 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A2,<br> 1.241%, 01/20/2065 (C)(F) | &nbsp;&nbsp;94683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81100 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 0.951%, 07/25/2066 (C)(F) | 223856 | &nbsp;&nbsp;&nbsp;&nbsp;195292 |
| &nbsp;&nbsp;&nbsp;Series 2021-6, Class A1,<br> 1.458%, 09/25/2066 (C)(F) | 372497 | &nbsp;&nbsp;&nbsp;&nbsp;316799 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 1.820%, 11/25/2066 (C)(F) | 164970 | &nbsp;&nbsp;&nbsp;&nbsp;148511 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A1,<br> 3.353%, 01/25/2067 (C)(F) | &nbsp;&nbsp;49717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47614 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Angel Oak Mortgage<br> Trust LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-5, Class A1 (4.500% to 7-1-26, then 5.500% thereafter),<br> 4.500%, 05/25/2067 (C) | $&nbsp;&nbsp;418626 | $416519 |
| Arroyo Mortgage Trust<br> Series 2019-2, Class A1<br> 3.347%, 04/25/2049 (C)(F) | &nbsp;&nbsp;&nbsp;&nbsp;86547 | &nbsp;&nbsp;&nbsp;84558 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK8, Class XA IO,<br> 0.704%, 11/15/2050 | 3582282 | &nbsp;&nbsp;&nbsp;33100 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN18, Class XA IO,<br> 0.880%, 05/15/2062 | 1374962 | &nbsp;&nbsp;&nbsp;33134 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN20, Class XA IO,<br> 0.806%, 09/15/2062 | 2150433 | &nbsp;&nbsp;&nbsp;54938 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN22, Class XA IO,<br> 0.579%, 11/15/2062 | 2376609 | &nbsp;&nbsp;&nbsp;46874 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN23, Class XA IO,<br> 0.682%, 12/15/2052 | 1886860 | &nbsp;&nbsp;&nbsp;42140 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN24, Class XA IO,<br> 0.632%, 11/15/2062 | 1158476 | &nbsp;&nbsp;&nbsp;25752 |
| &nbsp;&nbsp;&nbsp;Series 2020-BN28, Class XA IO,<br> 1.759%, 03/15/2063 | 2494128 | 164339 |
| &nbsp;&nbsp;&nbsp;Series 2023-BNK45, Class XA IO,<br> 1.069%, 02/15/2056 | &nbsp;&nbsp;885284 | &nbsp;&nbsp;&nbsp;49931 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-C1, Class XA IO,<br> 1.441%, 02/15/2050 | 2528520 | &nbsp;&nbsp;&nbsp;23223 |
| &nbsp;&nbsp;&nbsp;Series 2022-C15, Class A5,<br> 3.662%, 04/15/2055 (F) | &nbsp;&nbsp;110000 | 102505 |
| &nbsp;&nbsp;&nbsp;Series 2024-C24, Class XA IO,<br> 1.624%, 02/15/2057 | &nbsp;&nbsp;992113 | &nbsp;&nbsp;&nbsp;91820 |
| &nbsp;&nbsp;&nbsp;Series 2025-C32, Class XA IO,<br> 1.128%, 02/15/2062 | &nbsp;&nbsp;998676 | &nbsp;&nbsp;&nbsp;81994 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B1, Class XA IO,<br> 0.525%, 01/15/2051 | &nbsp;&nbsp;841632 | &nbsp;&nbsp;&nbsp;&nbsp;8314 |
| &nbsp;&nbsp;&nbsp;Series 2018-B4, Class XA IO,<br> 0.462%, 07/15/2051 | 1977669 | &nbsp;&nbsp;&nbsp;22016 |
| &nbsp;&nbsp;&nbsp;Series 2018-B8, Class XA IO,<br> 0.610%, 01/15/2052 | 4269151 | &nbsp;&nbsp;&nbsp;59976 |
| &nbsp;&nbsp;&nbsp;Series 2019-B10, Class XA IO,<br> 1.217%, 03/15/2062 | 2602731 | &nbsp;&nbsp;&nbsp;85018 |
| &nbsp;&nbsp;&nbsp;Series 2019-B12, Class XA IO,<br> 1.016%, 08/15/2052 | &nbsp;&nbsp;945177 | &nbsp;&nbsp;&nbsp;23481 |
| &nbsp;&nbsp;&nbsp;Series 2019-B15, Class A5,<br> 2.928%, 12/15/2072 | &nbsp;&nbsp;565000 | 529871 |
| &nbsp;&nbsp;&nbsp;Series 2020-B18, Class XA IO,<br> 1.731%, 07/15/2053 | &nbsp;&nbsp;564794 | &nbsp;&nbsp;&nbsp;27776 |
| &nbsp;&nbsp;&nbsp;Series 2020-B22, Class XA IO,<br> 1.490%, 01/15/2054 | 1142011 | &nbsp;&nbsp;&nbsp;68283 |
| BINOM Securitization Trust<br> Series 2021-INV1, Class A1<br> 2.034%, 06/25/2056 (C)(F) | &nbsp;&nbsp;102606 | &nbsp;&nbsp;&nbsp;94411 |
| BOCA Commercial Mortgage Trust<br> Series 2025-BOCA, Class B (1 month CME Term SOFR + 1.900%)<br> 5.750%, 12/15/2042 (C)(D) | &nbsp;&nbsp;245000 | 245306 |
| BPR Trust<br> Series 2024-PMDW, Class B<br> 5.850%, 11/05/2041 (C)(F) | &nbsp;&nbsp;100000 | 102821 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 47 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.941%, 02/25/2049 (C)(F) | $&nbsp;&nbsp;49869 | $&nbsp;&nbsp;&nbsp;45958 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 0.970%, 03/25/2060 (C)(F) | &nbsp;&nbsp;22254 | &nbsp;&nbsp;&nbsp;21782 |
| BSTN Commercial Mortgage Trust<br> Series 2025-HUB, Class A<br> 4.899%, 04/13/2041 (C)(F) | 100000 | 100396 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-PAT, Class B (1 month CME Term SOFR + 3.039%),<br> 6.789%, 03/15/2041 (C)(D) | &nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;39158 |
| &nbsp;&nbsp;&nbsp;Series 2025-ARIA, Class B,<br> 5.177%, 12/13/2042 (C)(F) | 145000 | 145934 |
| Citigroup Commercial Mortgage Trust<br> Series 2016-C3, Class C<br> 4.004%, 11/15/2049 (F) | 288000 | 255005 |
| COLT Mortgage Loan Trust<br> Series 2021-3, Class A1<br> 0.956%, 09/27/2066 (C)(F) | 474661 | 408631 |
| Commercial Mortgage Trust (Deutsche<br> Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-HC, Class A,<br> 2.819%, 01/10/2039 (C) | 100000 | &nbsp;&nbsp;&nbsp;96518 |
| &nbsp;&nbsp;&nbsp;Series 2022-HC, Class D,<br> 3.896%, 01/10/2039 (C)(F) | 100000 | &nbsp;&nbsp;&nbsp;94115 |
| &nbsp;&nbsp;&nbsp;Series 2024-CBM, Class B,<br> 6.511%, 12/10/2041 (C)(F) | 137000 | 140130 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-FHA1, Class A1,<br> 3.250%, 04/25/2047 (C)(F) | 110066 | 101689 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (C)(F) | 203538 | 182926 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM8, Class A1,<br> 2.841%, 10/25/2066 (C)(F) | 186447 | 168959 |
| &nbsp;&nbsp;&nbsp;Series 2021-RPL4, Class A1,<br> 4.150%, 12/27/2060 (C)(F) | 108080 | 107663 |
| &nbsp;&nbsp;&nbsp;Series 2022-NQM1, Class A1,<br> 2.265%, 11/25/2066 (C)(F) | 480797 | 440728 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-C6, Class A5,<br> 3.090%, 01/15/2049 | &nbsp;&nbsp;87265 | &nbsp;&nbsp;&nbsp;86959 |
| &nbsp;&nbsp;&nbsp;Series 2016-C6, Class XA IO,<br> 1.751%, 01/15/2049 | 598075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| DBJPM Mortgage Trust<br> Series 2020-C9, Class XA IO<br> 1.585%, 09/15/2053 | 416517 | &nbsp;&nbsp;&nbsp;17685 |
| DC Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-HLTN, Class A,<br> 5.727%, 04/13/2040 (C)(F) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;91125 |
| &nbsp;&nbsp;&nbsp;Series 2024-HLTN, Class C,<br> 7.036%, 04/13/2040 (C)(F) | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;45094 |
| Deephaven Residential Mortgage Trust<br> Series 2021-2, Class A1<br> 0.899%, 04/25/2066 (C)(F) | &nbsp;&nbsp;63331 | &nbsp;&nbsp;&nbsp;56792 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (C)(F) | &nbsp;&nbsp;70457 | &nbsp;&nbsp;&nbsp;59976 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1,<br> 2.206%, 01/25/2067 (C)(F) | 213241 | 187409 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Ellington Financial<br> Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-INV5, Class A3 (5.381% to 11-1-29, then 6.381% thereafter),<br> 5.381%, 12/01/2070 (C) | $142448 | $142698 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (C)(F) | 175663 | 154871 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM7, Class A1,<br> 1.915%, 08/25/2066 (C)(F) | 115028 | 107503 |
| &nbsp;&nbsp;&nbsp;Series 2022-HX1, Class A1,<br> 2.885%, 12/27/2066 (C)(F) | 321324 | 302130 |
| GS Mortgage Securities Trust<br> Series 2024-70P, Class B<br> 5.697%, 03/10/2041 (C)(F) | 295000 | 299456 |
| HTL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-T53, Class B,<br> 6.555%, 05/10/2039 (C)(F) | 130000 | 131922 |
| &nbsp;&nbsp;&nbsp;Series 2024-T53, Class C,<br> 7.088%, 05/10/2039 (C)(F) | 100000 | 101562 |
| Imperial Fund Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.073%, 09/25/2056 (C)(F) | 135101 | 114851 |
| &nbsp;&nbsp;&nbsp;Series 2022-NQM2, Class A1 (3.638% to 3-25-26, then 4.638% thereafter),<br> 3.638%, 03/25/2067 (C) | 462998 | 441643 |
| INT Commercial Mortgage Trust<br> Series 2025-PLAZA, Class A<br> 4.879%, 11/05/2037 (C)(F) | 105000 | 105299 |
| JPMorgan Chase Commercial Mortgage<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-JP3, Class A5,<br> 2.870%, 08/15/2049 | 115000 | 113906 |
| &nbsp;&nbsp;&nbsp;Series 2020-NNN, Class AFX,<br> 2.812%, 01/16/2037 (C) | 160000 | 144000 |
| Legacy Mortgage Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-GS2, Class A1,<br> 5.750%, 04/25/2061 (C) | 105098 | 105134 |
| &nbsp;&nbsp;&nbsp;Series 2021-GS3, Class A1,<br> 5.750%, 07/25/2061 (C) | 143687 | 143696 |
| &nbsp;&nbsp;&nbsp;Series 2021-GS4, Class A1,<br> 5.650%, 11/25/2060 (C) | &nbsp;&nbsp;70179 | &nbsp;&nbsp;&nbsp;70233 |
| MAD Commercial Mortgage Trust<br> Series 2025-11MD, Class B<br> 5.095%, 10/15/2042 (C)(F) | 280000 | 280111 |
| MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-NQM3, Class A1,<br> 1.014%, 01/26/2065 (C)(F) | &nbsp;&nbsp;11555 | &nbsp;&nbsp;&nbsp;11041 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 1.153%, 04/25/2065 (C)(F) | &nbsp;&nbsp;60111 | &nbsp;&nbsp;&nbsp;56878 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.029%, 11/25/2064 (C)(F) | &nbsp;&nbsp;96460 | &nbsp;&nbsp;&nbsp;85566 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-150E, Class A,<br> 3.912%, 09/09/2032 (C) | 610000 | 550319 |
| &nbsp;&nbsp;&nbsp;Series 2017-H1, Class XA IO,<br> 1.288%, 06/15/2050 | 598198 | &nbsp;&nbsp;&nbsp;&nbsp;7475 |
| &nbsp;&nbsp;&nbsp;Series 2021-230P, Class B (1 month CME Term SOFR + 1.563%),<br> 5.314%, 12/15/2038 (C)(D) | 150000 | 139883 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 48 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Morgan Stanley Residential Mortgage Loan Trust<br> Series 2025-SPL1, Class A1 (4.250% to 9-1-29, then 5.250% thereafter)<br> 4.250%, 02/25/2065 (C) | $397605 | $389169 |
| Natixis Commercial Mortgage Securities Trust<br> Series 2018-SOX, Class C<br> 4.773%, 06/17/2038 (C)(F) | 100000 | &nbsp;&nbsp;&nbsp;97593 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-2A, Class A1,<br> 3.750%, 11/26/2035 (C)(F) | 100103 | &nbsp;&nbsp;&nbsp;97493 |
| &nbsp;&nbsp;&nbsp;Series 2016-4A, Class A1,<br> 3.750%, 11/25/2056 (C)(F) | 114940 | 110689 |
| &nbsp;&nbsp;&nbsp;Series 2017-5A, Class A1 (1 month CME Term SOFR + 1.614%),<br> 5.346%, 06/25/2057 (C)(D) | &nbsp;&nbsp;85982 | &nbsp;&nbsp;&nbsp;87017 |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A1A,<br> 4.000%, 12/25/2057 (C)(F) | &nbsp;&nbsp;76195 | &nbsp;&nbsp;&nbsp;74670 |
| &nbsp;&nbsp;&nbsp;Series 2018-4A, Class A1S (1 month CME Term SOFR + 0.864%),<br> 4.596%, 01/25/2048 (C)(D) | 106665 | 104813 |
| &nbsp;&nbsp;&nbsp;Series 2019-5A, Class A1B,<br> 3.500%, 08/25/2059 (C)(F) | 104254 | &nbsp;&nbsp;&nbsp;98956 |
| &nbsp;&nbsp;&nbsp;Series 2019-NQM4, Class A1,<br> 2.492%, 09/25/2059 (C)(F) | &nbsp;&nbsp;23856 | &nbsp;&nbsp;&nbsp;23019 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQ2R, Class A1,<br> 0.941%, 10/25/2058 (C)(F) | &nbsp;&nbsp;40002 | &nbsp;&nbsp;&nbsp;38446 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM7, Class A1,<br> 5.010%, 10/26/2065 (C)(F) | 203000 | 203293 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM7, Class A3 (5.365% to 12-1-29, then 6.365% thereafter),<br> 5.365%, 10/26/2065 (C) | 240000 | 240340 |
| NMLT Trust<br> Series 2021-INV1, Class A1<br> 1.185%, 05/25/2056 (C)(F) | 276200 | 244276 |
| NRTH Commercial Mortgage Trust<br> Series 2025-PARK, Class B (1 month CME Term SOFR + 1.643%)<br> 5.393%, 10/15/2040 (C)(D) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35011 |
| NYC Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-300P, Class B,<br> 5.176%, 07/13/2042 (C)(F) | 250000 | 250974 |
| &nbsp;&nbsp;&nbsp;Series 2025-3BP, Class B (1 month CME Term SOFR + 1.692%),<br> 5.442%, 02/15/2042 (C)(D) | 385000 | 384281 |
| OBX Trust<br> Series 2021-NQM1, Class A1<br> 1.072%, 02/25/2066 (C)(F) | 181676 | 159982 |
| Onity Loan Investment Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-HB2, Class A,<br> 3.000%, 11/25/2038 (C)(F) | &nbsp;&nbsp;83846 | &nbsp;&nbsp;&nbsp;81849 |
| &nbsp;&nbsp;&nbsp;Series 2025-HB2, Class M1,<br> 3.000%, 11/25/2038 (C)(F) | 135000 | 127410 |
| Pretium Mortgage Credit Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-NPL7, Class A1 (5.925% to 10-25-27, then 8.925% to 10-25-28, then 9.925% thereafter),<br> 5.925%, 10/25/2054 (C) | &nbsp;&nbsp;89048 | &nbsp;&nbsp;&nbsp;89103 |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL11, Class A1 (5.193% to 9-25-28, then 8.193% to 9-25-29, then 9.193% thereafter),<br> 5.193%, 10/25/2055 (C) | 621061 | 622153 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Pretium Mortgage Credit<br> Partners LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL14, Class A1 (5.265% to 12-25-28, then 8.265% to 12-25-29, then 9.625% thereafter),<br> 5.265%, 12/25/2055 (C)(G) | $240000 | $240000 |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL14, Class A2 (6.779% to 12-25-28, then 10.779% thereafter),<br> 6.779%, 12/25/2055 (C)(G) | 175000 | 175000 |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL6, Class A1 (5.744% to 6-25-28, then 8.744% to 6-25-29, then 11.744% thereafter),<br> 5.744%, 06/25/2055 (C) | 471417 | 473245 |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL7, Class A1 (5.657% to 7-25-28, then 8.657% to 7-25-29, then 11.657% thereafter),<br> 5.657%, 07/25/2055 (C) | 316089 | 316909 |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL8, Class A1 (5.732% to 7-25-28, then 8.732% to 7-25-29, then 9.732% thereafter),<br> 5.732%, 08/25/2055 (C) | 293408 | 294082 |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL9, Class A1 (5.391% to 8-25-28, then 8.391% to 8-25-29, then 9.391% thereafter),<br> 5.391%, 08/25/2055 (C) | 388706 | 389703 |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL5, Class A1 (4.150% to 10-1-29, then 5.150% thereafter),<br> 4.150%, 01/25/2070 (C) | 440609 | 433370 |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL6, Class A1 (3.850% to 11-1-29, then 4.850% thereafter),<br> 3.850%, 09/25/2069 (C) | 402897 | 387423 |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL6, Class A2 (3.850% to 11-1-29, then 4.850% thereafter),<br> 3.850%, 09/25/2069 (C) | 100000 | &nbsp;&nbsp;&nbsp;73590 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR8, Class A,<br> 1.510%, 10/17/2038 (C) | 384770 | 378811 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR3, Class A,<br> 3.200%, 04/17/2039 (C) | 128471 | 126715 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR5, Class A,<br> 4.451%, 06/17/2039 (C) | &nbsp;&nbsp;98321 | &nbsp;&nbsp;&nbsp;98271 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR6, Class A,<br> 4.451%, 07/20/2039 (C) | 617680 | 617421 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR7, Class A,<br> 4.750%, 10/27/2039 (C) | 161089 | 161414 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A,<br> 3.400%, 02/17/2042 (C) | 298803 | 286686 |
| PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-6, Class A1 (5.699% to 11-25-27, then 8.699% to 11-25-28, then 9.699% thereafter),<br> 5.699%, 11/25/2029 (C) | &nbsp;&nbsp;86866 | &nbsp;&nbsp;&nbsp;86901 |
| &nbsp;&nbsp;&nbsp;Series 2024-7, Class A1 (5.870% to 11-25-27, then 8.870% to 11-25-28, then 9.870% thereafter),<br> 5.870%, 11/25/2029 (C) | 193747 | 193847 |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A1 (6.255% to 5-1-28, then 9.255% to 5-1-29, then 10.255% thereafter),<br> 6.255%, 05/25/2030 (C) | &nbsp;&nbsp;90002 | &nbsp;&nbsp;&nbsp;90172 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 49 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| PRPM LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-6, Class A1 (5.774% to 8-1-28, then 8.774% to 8-1-29, then 9.774% thereafter),<br> 5.774%, 08/25/2028 (C) | $263396 | $&nbsp;&nbsp;&nbsp;&nbsp;263820 |
| &nbsp;&nbsp;&nbsp;Series 2025-7, Class A1 (5.503% to 8-1-28, then 8.503% to 8-1-29, then 9.503% thereafter),<br> 5.503%, 08/25/2030 (C) | 186053 | &nbsp;&nbsp;&nbsp;&nbsp;186514 |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL3, Class A1 (3.250% to 4-1-28, then 4.250% thereafter),<br> 3.250%, 04/25/2055 (C) | 664818 | &nbsp;&nbsp;&nbsp;&nbsp;643611 |
| RFR Trust<br> Series 2025-SGRM, Class B<br> 5.670%, 03/11/2041 (C)(F) | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;342735 |
| SG Commercial Mortgage Securities Trust<br> Series 2020-COVE, Class A<br> 2.632%, 03/15/2037 (C) | 570000 | &nbsp;&nbsp;&nbsp;&nbsp;545782 |
| SG Residential Mortgage Trust<br> Series 2021-1, Class A1<br> 1.160%, 07/25/2061 (C)(F) | 283180 | &nbsp;&nbsp;&nbsp;&nbsp;236191 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 1.219%, 05/25/2065 (C)(F) | 107319 | &nbsp;&nbsp;&nbsp;&nbsp;101260 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.943%, 05/25/2065 (C)(F) | &nbsp;&nbsp;29830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28363 |
| &nbsp;&nbsp;&nbsp;Series 2021-6, Class A1,<br> 1.920%, 11/25/2066 (C)(F) | 275915 | &nbsp;&nbsp;&nbsp;&nbsp;245033 |
| Towd Point Mortgage Trust<br> Series 2021-R1, Class A1<br> 2.918%, 11/30/2060 (C)(F) | 536541 | &nbsp;&nbsp;&nbsp;&nbsp;487305 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 1.031%, 02/25/2066 (C)(F) | &nbsp;&nbsp;69618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63781 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (C)(F) | &nbsp;&nbsp;95683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83484 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 2.824%, 11/25/2066 (C)(F) | 183159 | &nbsp;&nbsp;&nbsp;&nbsp;169898 |
| &nbsp;&nbsp;&nbsp;Series 2021-R2, Class A1,<br> 0.918%, 02/25/2064 (C)(F) | &nbsp;&nbsp;63332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59676 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1 (2.724% to 1-25-26, then 3.724% thereafter),<br> 2.724%, 01/25/2067 (C) | 282607 | &nbsp;&nbsp;&nbsp;&nbsp;265678 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A1 (4.130% to 3-1-26, then 5.130% thereafter),<br> 4.130%, 02/25/2067 (C) | &nbsp;&nbsp;66391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63917 |
| Wells Fargo Commercial Mortgage Trust<br> Series 2015-NXS1, Class D<br> 3.858%, 05/15/2048 (F) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37241 |
|  |  | 22363772 |
| **U.S. Government Agency – 3.2%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3, Class MV,<br> 3.500%, 10/25/2058 | 101062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96941 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA6, Class B1 (30 day Average SOFR + 3.400%),<br> 7.274%, 10/25/2041 (C)(D) | 505000 | &nbsp;&nbsp;&nbsp;&nbsp;513882 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA7, Class B1 (30 day Average SOFR + 3.650%),<br> 7.524%, 11/25/2041 (C)(D) | 194000 | &nbsp;&nbsp;&nbsp;&nbsp;198411 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3, Class M1B (30 day Average SOFR + 2.900%),<br> 6.774%, 04/25/2042 (C)(D) | $&nbsp;&nbsp;168000 | $172183 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1B (30 day Average SOFR + 3.350%),<br> 7.224%, 05/25/2042 (C)(D) | &nbsp;&nbsp;235000 | 242492 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA5, Class M1B (30 day Average SOFR + 4.500%),<br> 8.374%, 06/25/2042 (C)(D) | &nbsp;&nbsp;285000 | 299792 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA6, Class M1B (30 day Average SOFR + 3.700%),<br> 7.574%, 09/25/2042 (C)(D) | &nbsp;&nbsp;200000 | 208626 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA2, Class M1B (30 day Average SOFR + 4.000%),<br> 7.874%, 07/25/2042 (C)(D) | &nbsp;&nbsp;180000 | 188044 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA3, Class M1B (30 day Average SOFR + 3.550%),<br> 7.424%, 08/25/2042 (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;72800 |
| &nbsp;&nbsp;&nbsp;Series 2023-HQA1, Class M1B (30 day Average SOFR + 3.500%),<br> 7.374%, 05/25/2043 (C)(D) | &nbsp;&nbsp;445000 | 466097 |
| &nbsp;&nbsp;&nbsp;Series 2023-HQA2, Class M1B (30 day Average SOFR + 3.350%),<br> 7.224%, 06/25/2043 (C)(D) | &nbsp;&nbsp;460000 | 474185 |
| &nbsp;&nbsp;&nbsp;Series 3883, Class PB,<br> 3.000%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;35606 | &nbsp;&nbsp;&nbsp;34353 |
| &nbsp;&nbsp;&nbsp;Series 5055, Class DG,<br> 1.500%, 12/25/2050 | &nbsp;&nbsp;332587 | 273182 |
| &nbsp;&nbsp;&nbsp;Series 5170, Class DP,<br> 2.000%, 07/25/2050 | &nbsp;&nbsp;312594 | 278035 |
| &nbsp;&nbsp;&nbsp;Series K064, Class X1 IO,<br> 0.585%, 03/25/2027 | 2004878 | &nbsp;&nbsp;&nbsp;10870 |
| &nbsp;&nbsp;&nbsp;Series K068, Class A2,<br> 3.244%, 08/25/2027 | &nbsp;&nbsp;545000 | 540214 |
| &nbsp;&nbsp;&nbsp;Series K104, Class X1 IO,<br> 1.107%, 01/25/2030 | 1250625 | &nbsp;&nbsp;&nbsp;46670 |
| &nbsp;&nbsp;&nbsp;Series K111, Class X1 IO,<br> 1.564%, 05/25/2030 | &nbsp;&nbsp;539519 | &nbsp;&nbsp;&nbsp;30963 |
| &nbsp;&nbsp;&nbsp;Series K114, Class X1 IO,<br> 1.110%, 06/25/2030 | 1579156 | &nbsp;&nbsp;&nbsp;66291 |
| &nbsp;&nbsp;&nbsp;Series K121, Class X1 IO,<br> 1.014%, 10/25/2030 | &nbsp;&nbsp;827870 | &nbsp;&nbsp;&nbsp;32256 |
| &nbsp;&nbsp;&nbsp;Series K122, Class X1 IO,<br> 0.868%, 11/25/2030 | &nbsp;&nbsp;468247 | &nbsp;&nbsp;&nbsp;16392 |
| &nbsp;&nbsp;&nbsp;Series K124, Class X1 IO,<br> 0.715%, 12/25/2030 | 1893154 | &nbsp;&nbsp;&nbsp;56259 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-18, Class GA,<br> 2.000%, 12/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;37603 | &nbsp;&nbsp;&nbsp;35607 |
| &nbsp;&nbsp;&nbsp;Series 2012-21, Class PQ,<br> 2.000%, 09/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;19366 | &nbsp;&nbsp;&nbsp;18491 |
| &nbsp;&nbsp;&nbsp;Series 2012-52, Class PA,<br> 3.500%, 05/25/2042 | &nbsp;&nbsp;&nbsp;&nbsp;32815 | &nbsp;&nbsp;&nbsp;31879 |
| &nbsp;&nbsp;&nbsp;Series 2015-48, Class QB,<br> 3.000%, 02/25/2043 | &nbsp;&nbsp;&nbsp;&nbsp;26595 | &nbsp;&nbsp;&nbsp;26214 |
| &nbsp;&nbsp;&nbsp;Series 2016-11, Class GA,<br> 2.500%, 03/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;55399 | &nbsp;&nbsp;&nbsp;52200 |
| &nbsp;&nbsp;&nbsp;Series 2016-38, Class NA,<br> 3.000%, 01/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;30336 | &nbsp;&nbsp;&nbsp;28639 |
| &nbsp;&nbsp;&nbsp;Series 2017-16, Class PB,<br> 3.000%, 03/25/2047 | &nbsp;&nbsp;270000 | 238335 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 50 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-26, Class CG,<br> 3.500%, 07/25/2044 | &nbsp;&nbsp;16835 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16753 |
| &nbsp;&nbsp;&nbsp;Series 2017-34, Class JK,<br> 3.000%, 05/25/2047 | &nbsp;&nbsp;15267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15030 |
| &nbsp;&nbsp;&nbsp;Series 2017-35, Class AH,<br> 3.500%, 04/25/2053 | &nbsp;&nbsp;21045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20954 |
| &nbsp;&nbsp;&nbsp;Series 2017-49, Class JA,<br> 4.000%, 07/25/2053 | &nbsp;&nbsp;27215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27173 |
| &nbsp;&nbsp;&nbsp;Series 2017-84, Class KA,<br> 3.500%, 04/25/2053 | &nbsp;&nbsp;32517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32353 |
| &nbsp;&nbsp;&nbsp;Series 2018-23, Class LA,<br> 3.500%, 04/25/2048 | &nbsp;&nbsp;89516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86234 |
| &nbsp;&nbsp;&nbsp;Series 2018-70, Class HA,<br> 3.500%, 10/25/2056 | &nbsp;&nbsp;52921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52079 |
| &nbsp;&nbsp;&nbsp;Series 2019-12, Class HA,<br> 3.500%, 11/25/2057 | 107246 | &nbsp;&nbsp;&nbsp;&nbsp;104054 |
| &nbsp;&nbsp;&nbsp;Series 2019-14, Class CA,<br> 3.500%, 04/25/2049 | &nbsp;&nbsp;97010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94461 |
| &nbsp;&nbsp;&nbsp;Series 2019-45, Class PT,<br> 3.000%, 08/25/2049 | &nbsp;&nbsp;95136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87210 |
| &nbsp;&nbsp;&nbsp;Series 2021-R01, Class 1B1 (30 day Average SOFR + 3.100%),<br> 6.974%, 10/25/2041 (C)(D) | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81287 |
| &nbsp;&nbsp;&nbsp;Series 2022-90, Class AY,<br> 4.500%, 12/25/2041 | 640000 | &nbsp;&nbsp;&nbsp;&nbsp;639983 |
| &nbsp;&nbsp;&nbsp;Series 2022-R01, Class 1B1 (30 day Average SOFR + 3.150%),<br> 7.024%, 12/25/2041 (C)(D) | 188000 | &nbsp;&nbsp;&nbsp;&nbsp;191536 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2B1 (30 day Average SOFR + 4.500%),<br> 8.374%, 01/25/2042 (C)(D) | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;408191 |
| &nbsp;&nbsp;&nbsp;Series 2023-R03, Class 2B1 (30 day Average SOFR + 6.350%),<br> 10.224%, 04/25/2043 (C)(D) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;188135 |
| &nbsp;&nbsp;&nbsp;Series 415, Class A3,<br> 3.000%, 11/25/2042 | &nbsp;&nbsp;75601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70018 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2006-38, Class XS IO,<br> 3.401%, 09/16/2035 | &nbsp;&nbsp;&nbsp;4091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 |
| &nbsp;&nbsp;&nbsp;Series 2013-37, Class LG,<br> 2.000%, 01/20/2042 | &nbsp;&nbsp;21475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21145 |
|  |  | &nbsp;&nbsp;&nbsp;6886927 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $30,394,881) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $30,394,881) | $29250699 |
| **ASSET-BACKED SECURITIES – 5.7%** | **ASSET-BACKED SECURITIES – 5.7%** |  |
| AASET Trust<br> Series 2020-1A, Class A<br> 3.351%, 01/16/2040 (C) | &nbsp;&nbsp;40060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39779 |
| Affirm Asset Securitization Trust<br> Series 2024-X2, Class B<br> 5.330%, 12/17/2029 (C) | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;120160 |
| Affirm Master Trust<br> Series 2025-2A, Class A<br> 4.670%, 07/15/2033 (C) | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;261758 |
| Aligned Data Centers Issuer LLC<br> Series 2023-1A, Class A2<br> 6.000%, 08/17/2048 (C) | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;266951 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| AREIT, Ltd.<br> Series 2025-CRE11, Class AS (1 month CME Term SOFR + 1.750%)<br> 5.750%, 07/25/2043 (C)(D) | $140000 | $140175 |
| Avis Budget Rental Car Funding AESOP LLC<br> Series 2024-3A, Class B<br> 5.580%, 12/20/2030 (C) | 100000 | 103046 |
| Battalion CLO XXV, Ltd.<br> Series 2024-25A, Class B (3 month CME Term SOFR + 2.200%)<br> 6.084%, 03/13/2037 (C)(D) | 395000 | 395754 |
| Benefit Street Partners Clo Xxxi Ltd.<br> Series 2023-31A, Class BR (3 month CME Term SOFR + 1.750%)<br> 5.608%, 04/25/2038 (C)(D) | 270000 | 270767 |
| Blue Owl Asset Leasing Trust<br> Series 2024-1A, Class B<br> 5.410%, 03/15/2030 (C) | 100000 | 101150 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1<br> 1.690%, 07/15/2060 (C) | 102899 | &nbsp;&nbsp;&nbsp;86578 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A2<br> 1.990%, 07/15/2060 (C) | 124438 | 104332 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A1<br> 5.970%, 08/15/2062 (C) | &nbsp;&nbsp;99457 | &nbsp;&nbsp;&nbsp;97837 |
| Commercial Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A<br> 5.970%, 07/16/2029 (C) | &nbsp;&nbsp;87102 | &nbsp;&nbsp;&nbsp;88041 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A<br> 4.830%, 05/15/2031 (C) | 298805 | 300031 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2<br> 3.668%, 10/25/2049 (C) | 168000 | 161710 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (C) | 598087 | 568496 |
| Elmwood CLO 23, Ltd.<br> Series 2023-2A, Class BR (3 month CME Term SOFR + 1.750%)<br> 5.644%, 04/16/2036 (C)(D) | 250000 | 250384 |
| Exeter Automobile Receivables Trust<br> Series 2025-4A, Class B<br> 4.400%, 05/15/2030 | 110000 | 110580 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class A<br> 4.145%, 05/19/2039 (C) | 134494 | 134243 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR2, Class A<br> 4.250%, 07/17/2039 (C) | 479552 | 479365 |
| GLS Auto Receivables Issuer Trust<br> Series 2024-4A, Class B<br> 4.890%, 04/16/2029 (C) | 175000 | 176103 |
| GLS Auto Select Receivables Trust<br> Series 2025-3A, Class B<br> 4.810%, 09/15/2031 (C) | 433000 | 437859 |
| GreenSky Home Improvement Issuer Trust<br> Series 2025-2A, Class B<br> 5.070%, 06/25/2060 (C) | 100000 | 101013 |
| Hertz Vehicle Financing III LLC<br> Series 2025-2A, Class A<br> 5.130%, 09/25/2031 (C) | 145000 | 147281 |
| Magnetite XXXI, Ltd.<br> Series 2021-31A, Class CR (3 month CME Term SOFR + 1.550%)<br> 5.211%, 07/15/2034 (C)(D) | 250000 | 250000 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 51 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| MF1, Ltd.<br> Series 2022-FL8, Class AS (1 month CME Term SOFR + 1.750%)<br> 5.481%, 02/19/2037 (C)(D) | $335000 | $334178 |
| Navient Private Education Refi<br> Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-EA, Class A<br> 0.970%, 12/16/2069 (C) | 102837 | &nbsp;&nbsp;&nbsp;92748 |
| &nbsp;&nbsp;&nbsp;Series 2021-FA, Class A<br> 1.110%, 02/18/2070 (C) | 151857 | 135384 |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class A<br> 5.510%, 10/15/2071 (C) | 192151 | 197496 |
| NMEF Funding LLC<br> Series 2025-B, Class B<br> 4.730%, 01/18/2033 (C) | 165000 | 166135 |
| Post Road Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 4.900%, 05/15/2031 (C) | &nbsp;&nbsp;92128 | &nbsp;&nbsp;&nbsp;92846 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class B<br> 5.040%, 05/15/2031 (C) | 100000 | 101547 |
| Rad CLO 12, Ltd.<br> Series 2021-12A, Class A1AR (3 month CME Term SOFR + 1.320%)<br> 5.158%, 07/30/2040 (C)(D) | 395000 | 396248 |
| Retained Vantage Data Centers Issuer LLC<br> Series 2023-1A, Class A2A<br> 5.000%, 09/15/2048 (C) | 395000 | 393768 |
| RR 23, Ltd.<br> Series 2022-23A, Class A2R2 (3 month CME Term SOFR + 1.650%)<br> 5.555%, 07/15/2037 (C)(D) | 520000 | 521333 |
| Sabey Data Center Issuer LLC<br> Series 2024-1, Class A2<br> 6.000%, 04/20/2049 (C) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;65713 |
| SCF Equipment Trust LLC<br> Series 2025-1A, Class A3<br> 5.110%, 11/21/2033 (C) | 170000 | 173535 |
| Securitized Term Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class B<br> 5.038%, 07/25/2031 (C) | &nbsp;&nbsp;49793 | &nbsp;&nbsp;&nbsp;50230 |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class B<br> 4.925%, 12/29/2032 (C) | 163999 | 165410 |
| SFS Auto Receivables Securitization Trust<br> Series 2023-1A, Class B<br> 5.710%, 01/22/2030 (C) | 115000 | 117767 |
| Stack Infrastructure Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 5.900%, 07/25/2048 (C) | 225000 | 226132 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.900%, 03/25/2049 (C) | 120000 | 121491 |
| Taco Bell Funding LLC<br> Series 2021-1A, Class A2II<br> 2.294%, 08/25/2051 (C) | 878355 | 818837 |
| Texas Debt Capital CLO, Ltd.<br> Series 2023-1A, Class BR (3 month CME Term SOFR + 1.650%)<br> 5.534%, 07/20/2038 (C)(D) | 300000 | 301303 |
| VB Issuer LLC<br> Series 2024-1A, Class C2<br> 5.590%, 05/15/2054 (C) | 255000 | 257042 |
| Venture 42 CLO, Ltd.<br> Series 2021-42A, Class A1A (3 month CME Term SOFR + 1.392%)<br> 5.296%, 04/15/2034 (C)(D) | 655000 | 655290 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| VFI ABS LLC<br> Series 2025-1A, Class A<br> 4.780%, 06/24/2030 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;84990 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85381 |
| VOLT CII LLC<br> Series 2021-NP11, Class A1<br> 5.868%, 08/25/2051 (C) | &nbsp;&nbsp;124247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124235 |
| Wendy's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A2II<br> 3.884%, 03/15/2048 (C) | &nbsp;&nbsp;216135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212440 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II<br> 2.775%, 06/15/2051 (C) | &nbsp;&nbsp;630295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562040 |
| Wingstop Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 2.841%, 12/05/2050 (C) | &nbsp;&nbsp;197000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190863 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.858%, 12/05/2054 (C) | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113024 |
| Zayo Issuer LLC<br> Series 2025-1A, Class A2<br> 5.648%, 03/20/2055 (C) | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294953 |
| TOTAL ASSET-BACKED SECURITIES (Cost $11,961,730) |  | $&nbsp;&nbsp;12160762 |
| **SHORT-TERM INVESTMENTS – 2.6%** | **SHORT-TERM INVESTMENTS – 2.6%** |  |
| **Short-term funds – 0.2%** |  |  |
| John Hancock Collateral Trust, 3.7477% (H)(I) | &nbsp;&nbsp;&nbsp;&nbsp;44261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442798 |
| **Repurchase agreement – 2.4%** |  |  |
| Deutsche Bank Tri-Party Repurchase Agreement dated 12-31-25 at 3.840% to be repurchased at $5,201,109 on 1-2-26, collateralized by $5,270,600 U.S. Treasury Notes, 3.500% due 4-30-28 (valued at $5,304,015) | $5200000 | &nbsp;&nbsp;&nbsp;&nbsp;5200000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,642,808) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,642,808) | $&nbsp;&nbsp;&nbsp;&nbsp;5642798 |
| **Total Investments (Investment Quality Bond Trust)<br> (Cost $254,587,573) – 113.6%** | **Total Investments (Investment Quality Bond Trust)<br> (Cost $254,587,573) – 113.6%** | $**243314448** |
| **Other assets and liabilities, net – (13.6%)** |  | **(29118817)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**214195631** |

---

<u>Currency Abbreviations</u> <br> EUR Euro <br> GBP Pound Sterling

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Security purchased or sold on a when-issued or delayed-delivery basis. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 52 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)
(C) This security is 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 $51,834,597 or 24.2% of the fund's net assets as of 12-31-25.

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

(E) All or a portion of this security is on loan as of 12-31-25.

(F) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying
pool of assets. The interest rate shown is the current rate as of period end.

(G) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.

(H) The rate shown is the annualized seven-day yield as of 12-31-25.

(I) Investment is an affiliate of the portfolio, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities
lending.

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 10-Year Australian Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;$8366712 | &nbsp;&nbsp;&nbsp;&nbsp;$8402384 | &nbsp;&nbsp;&nbsp;&nbsp;$35672 |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7312036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7307617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4419) |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5136029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5137320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1291 |
| Euro-Buxl Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8817) |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2123) |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3738673) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3710438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28235 |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6487435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6446571) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40864 |
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3562766) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3571705) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8939) |
| Ultra 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1505544) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1495203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10341 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$92080** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| EUR | &nbsp;&nbsp;125000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;147329 | &nbsp;&nbsp;NWM | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;$66 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;805401 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;685000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(564) |
| USD | &nbsp;&nbsp;1658788 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1411000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(5011) |
| USD | &nbsp;&nbsp;435917 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;325000 | &nbsp;&nbsp;BNP | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2153) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$66** | &nbsp;&nbsp;**$(7728)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | 1187000 | USD | Fixed 1.560% | USD Compounded SOFR | Annual | Annual | Dec 2041 | &nbsp;&nbsp;$(5301) | &nbsp;&nbsp;&nbsp;$361548 | &nbsp;&nbsp;&nbsp;$356247 |
| Centrally cleared | 3940000 | USD | Fixed 4.160% | USD Compounded SOFR | Annual | Annual | Mar 2045 | &nbsp;&nbsp;&nbsp;(7569) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1081) |
| Centrally cleared | 1320000 | USD | Fixed 1.560% | USD Compounded SOFR | Annual | Annual | Dec 2051 | &nbsp;&nbsp;&nbsp;(7149) | &nbsp;&nbsp;&nbsp;&nbsp;561935 | &nbsp;&nbsp;&nbsp;&nbsp;554786 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;380000 | USD | Fixed 2.880% | USD Compounded SOFR | Annual | Annual | Mar 2053 | &nbsp;&nbsp;&nbsp;&nbsp;4062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85034 |
| Centrally cleared | 1105000 | USD | Fixed 2.970% | USD Compounded SOFR | Annual | Annual | Mar 2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;229562 | &nbsp;&nbsp;&nbsp;&nbsp;230171 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;370000 | USD | Fixed 3.250% | USD Compounded SOFR | Annual | Annual | Jun 2053 | &nbsp;&nbsp;&nbsp;(3716) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58408 |
|  |  |  |  |  |  |  |  | **$(19064)** | **$1302629** | **$1283565** |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| EUR | Euro |
| GBP | Pound Sterling |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 53 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| BNP | BNP Paribas |
| DB | Deutsche Bank AG |
| NWM | NatWest Markets PLC |
| OTC | Over-the-counter |
| SOFR | Secured Overnight Financing Rate |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Money Market Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT – 16.8%** |  |  |
| U.S. Treasury Bill<br> 3.911%, 01/02/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36996035 |
| U.S. Treasury Note |  |  |
| &nbsp;&nbsp;&nbsp;3.807%, (3 month USBMMY + 0.150%), 04/30/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18607400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18607261 |
| &nbsp;&nbsp;&nbsp;3.841%, (3 month USBMMY + 0.160%), 04/30/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97035920 |
| &nbsp;&nbsp;&nbsp;3.940%, (3 month USBMMY + 0.182%), 07/31/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75045764 |
| &nbsp;&nbsp;&nbsp;4.072%, (3 month USBMMY + 0.245%), 01/31/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106349600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106364673 |
| &nbsp;&nbsp;&nbsp;4.218%, 01/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29960333 |
| TOTAL U.S. GOVERNMENT (Cost $364,009,986) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364009986 |
| **U.S. GOVERNMENT AGENCY – 56.6%** | **U.S. GOVERNMENT AGENCY – 56.6%** |  |
| Federal Agricultural Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.619%, 08/07/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000000 |
| &nbsp;&nbsp;&nbsp;3.660%, 12/04/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000000 |
| &nbsp;&nbsp;&nbsp;3.695%, 01/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14981800 |
| &nbsp;&nbsp;&nbsp;3.697%, 09/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6997702 |
| &nbsp;&nbsp;&nbsp;3.698%, 01/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9980789 |
| &nbsp;&nbsp;&nbsp;3.726%, 03/09/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8938863 |
| &nbsp;&nbsp;&nbsp;3.797%, (Overnight SOFR + 0.035%), 02/11/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19418000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19418000 |
| &nbsp;&nbsp;&nbsp;3.802%, (Overnight SOFR + 0.040%), 03/27/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13049000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13049000 |
| &nbsp;&nbsp;&nbsp;3.802%, (Overnight SOFR + 0.040%), 02/09/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10500000 |
| &nbsp;&nbsp;&nbsp;3.822%, (Overnight SOFR + 0.060%), 01/16/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 |
| &nbsp;&nbsp;&nbsp;3.827%, (Overnight SOFR + 0.065%), 06/02/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 |
| &nbsp;&nbsp;&nbsp;3.827%, (Overnight SOFR + 0.065%), 10/27/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000000 |
| &nbsp;&nbsp;&nbsp;3.853%, (Overnight SOFR + 0.090%), 08/18/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000000 |
| &nbsp;&nbsp;&nbsp;3.853%, (Overnight SOFR + 0.090%), 12/07/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24600000 |
| &nbsp;&nbsp;&nbsp;3.869%, 07/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21409000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21409000 |
| &nbsp;&nbsp;&nbsp;3.883%, (Overnight SOFR + 0.120%), 03/13/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15642000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15642000 |
| &nbsp;&nbsp;&nbsp;3.883%, (Overnight SOFR + 0.120%), 03/08/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500000 |
| &nbsp;&nbsp;&nbsp;3.888%, (Overnight SOFR + 0.125%), 12/13/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 |
| &nbsp;&nbsp;&nbsp;3.903%, (Overnight SOFR + 0.140%), 10/15/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 |
| &nbsp;&nbsp;&nbsp;3.909%, (Overnight SOFR + 0.145%), 06/15/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 |
| &nbsp;&nbsp;&nbsp;3.924%, (Overnight SOFR + 0.160%), 08/28/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 |
| &nbsp;&nbsp;&nbsp;3.931%, 06/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18841000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18841000 |
| &nbsp;&nbsp;&nbsp;3.939%, 01/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5991593 |
| &nbsp;&nbsp;&nbsp;3.957%, 07/07/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7638000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7638000 |

---

#### Money Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Agricultural<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.967%, (Overnight SOFR + 0.160%), 11/02/2026 (A) | $20747000 | $20754663 |
| &nbsp;&nbsp;&nbsp;4.047%, 07/10/2026 | 30000000 | 30000000 |
| &nbsp;&nbsp;&nbsp;4.086%, 06/09/2026 | 32000000 | 31440320 |
| &nbsp;&nbsp;&nbsp;4.092%, 03/23/2026 | &nbsp;&nbsp;3541000 | &nbsp;&nbsp;&nbsp;3509131 |
| &nbsp;&nbsp;&nbsp;4.191%, 04/28/2026 | 14855000 | 14855000 |
| &nbsp;&nbsp;&nbsp;4.196%, 01/22/2026 | &nbsp;&nbsp;8117000 | &nbsp;&nbsp;&nbsp;8117000 |
| &nbsp;&nbsp;&nbsp;4.196%, 02/12/2026 | 11411000 | 11411000 |
| &nbsp;&nbsp;&nbsp;4.202%, 04/01/2026 | 18502000 | 18502000 |
| &nbsp;&nbsp;&nbsp;4.215%, 01/23/2026 | 16000000 | 16000000 |
| &nbsp;&nbsp;&nbsp;4.215%, 02/02/2026 | 45000000 | 45000000 |
| &nbsp;&nbsp;&nbsp;4.225%, 01/23/2026 | &nbsp;&nbsp;6095000 | &nbsp;&nbsp;&nbsp;6095000 |
| &nbsp;&nbsp;&nbsp;4.225%, 05/04/2026 | 12000000 | 12000000 |
| &nbsp;&nbsp;&nbsp;4.263%, 01/26/2026 | &nbsp;&nbsp;9256000 | &nbsp;&nbsp;&nbsp;9256000 |
| &nbsp;&nbsp;&nbsp;4.275%, 02/13/2026 | 23000000 | 23000000 |
| &nbsp;&nbsp;&nbsp;4.315%, 02/18/2026 | 12000000 | 12000000 |
| &nbsp;&nbsp;&nbsp;4.667%, (Overnight SOFR + 0.564%), 05/10/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp;748587 |
| Federal Farm Credit Bank |  |  |
| &nbsp;&nbsp;&nbsp;3.764%, (U.S. Federal Funds Effective Rate + 0.030%), 03/03/2026 (A) | 14000000 | 13998999 |
| &nbsp;&nbsp;&nbsp;3.772%, 04/16/2026 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;3957067 |
| &nbsp;&nbsp;&nbsp;3.792%, (Overnight SOFR + 0.030%), 07/28/2026 (A) | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;9000000 |
| &nbsp;&nbsp;&nbsp;3.886%, 04/09/2026 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;6000000 |
| &nbsp;&nbsp;&nbsp;3.904%, (Overnight SOFR + 0.070%), 11/05/2027 (A) | &nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;3600000 |
| &nbsp;&nbsp;&nbsp;4.133%, 04/02/2026 | &nbsp;&nbsp;2657000 | &nbsp;&nbsp;&nbsp;2629900 |
| &nbsp;&nbsp;&nbsp;4.178%, 02/03/2026 | &nbsp;&nbsp;9461000 | &nbsp;&nbsp;&nbsp;9460264 |
| &nbsp;&nbsp;&nbsp;4.233%, 01/09/2026 | &nbsp;&nbsp;8112000 | &nbsp;&nbsp;&nbsp;8111749 |
| &nbsp;&nbsp;&nbsp;4.247%, 01/16/2026 | 12000000 | 11999844 |
| &nbsp;&nbsp;&nbsp;4.425%, 01/22/2026 | &nbsp;&nbsp;6100000 | &nbsp;&nbsp;&nbsp;6101289 |
| &nbsp;&nbsp;&nbsp;4.763%, 03/13/2026 | &nbsp;&nbsp;2838000 | &nbsp;&nbsp;&nbsp;2839258 |
| &nbsp;&nbsp;&nbsp;5.038%, 04/10/2026 | &nbsp;&nbsp;5647000 | &nbsp;&nbsp;&nbsp;5653212 |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;3.560%, 01/19/2027 | 20000000 | 19731173 |
| &nbsp;&nbsp;&nbsp;3.652%, 04/29/2026 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;3966827 |
| &nbsp;&nbsp;&nbsp;3.711%, 03/23/2026 | 20000000 | 19836650 |
| &nbsp;&nbsp;&nbsp;3.739%, 01/21/2026 | 13000000 | 12973422 |
| &nbsp;&nbsp;&nbsp;3.762%, (Overnight SOFR + 0.000%), 01/29/2026 (A) | 35000000 | 35000000 |
| &nbsp;&nbsp;&nbsp;3.762%, (Overnight SOFR + 0.000%), 06/18/2026 (A) | 28000000 | 28000000 |
| &nbsp;&nbsp;&nbsp;3.762%, (Overnight SOFR + 0.000%), 04/02/2026 (A) | 20000000 | 20000000 |
| &nbsp;&nbsp;&nbsp;3.772%, (Overnight SOFR + 0.010%), 02/17/2026 (A) | 19110000 | 19110000 |
| &nbsp;&nbsp;&nbsp;3.772%, (Overnight SOFR + 0.010%), 02/25/2026 (A) | 13800000 | 13800000 |
| &nbsp;&nbsp;&nbsp;3.772%, (Overnight SOFR + 0.010%), 06/02/2026 (A) | 19000000 | 19000000 |
| &nbsp;&nbsp;&nbsp;3.776%, 10/21/2026 | 12670000 | 12657916 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 54 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Money Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Home Loan Bank (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.777%, (Overnight SOFR + 0.015%), 03/30/2026 (A) | &nbsp;&nbsp;15000000 | $&nbsp;&nbsp;&nbsp;&nbsp;15000000 |
| &nbsp;&nbsp;&nbsp;3.777%, (Overnight SOFR + 0.015%), 04/06/2026 (A) | &nbsp;&nbsp;17000000 | &nbsp;&nbsp;&nbsp;&nbsp;17000000 |
| &nbsp;&nbsp;&nbsp;3.795%, 03/02/2026 | &nbsp;&nbsp;14328000 | &nbsp;&nbsp;&nbsp;&nbsp;14239166 |
| &nbsp;&nbsp;&nbsp;3.810%, 03/20/2026 | &nbsp;&nbsp;&nbsp;8710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8639665 |
| &nbsp;&nbsp;&nbsp;3.817%, 04/06/2026 | &nbsp;&nbsp;12500000 | &nbsp;&nbsp;&nbsp;&nbsp;12499583 |
| &nbsp;&nbsp;&nbsp;3.848%, 02/20/2026 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9947569 |
| &nbsp;&nbsp;&nbsp;3.850%, 02/25/2026 | &nbsp;&nbsp;&nbsp;6241000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6205006 |
| &nbsp;&nbsp;&nbsp;3.858%, 02/18/2026 | &nbsp;&nbsp;38000000 | &nbsp;&nbsp;&nbsp;&nbsp;37808176 |
| &nbsp;&nbsp;&nbsp;3.862%, 01/23/2026 | &nbsp;&nbsp;35000000 | &nbsp;&nbsp;&nbsp;&nbsp;34918722 |
| &nbsp;&nbsp;&nbsp;3.902%, 01/09/2026 | &nbsp;&nbsp;&nbsp;8425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8417801 |
| &nbsp;&nbsp;&nbsp;3.914%, (Overnight SOFR - 0.010%), 05/04/2026 (A) | &nbsp;&nbsp;19000000 | &nbsp;&nbsp;&nbsp;&nbsp;19000000 |
| &nbsp;&nbsp;&nbsp;3.917%, 01/09/2026 | &nbsp;&nbsp;23000000 | &nbsp;&nbsp;&nbsp;&nbsp;22980271 |
| &nbsp;&nbsp;&nbsp;3.924%, 01/02/2026 | &nbsp;&nbsp;&nbsp;4750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4749489 |
| &nbsp;&nbsp;&nbsp;4.017%, 02/20/2026 | &nbsp;&nbsp;13678000 | &nbsp;&nbsp;&nbsp;&nbsp;13603151 |
| &nbsp;&nbsp;&nbsp;4.024%, 02/13/2026 | &nbsp;&nbsp;14832000 | &nbsp;&nbsp;&nbsp;&nbsp;14762022 |
| &nbsp;&nbsp;&nbsp;4.025%, 01/28/2026 | &nbsp;&nbsp;&nbsp;3230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3224082 |
| &nbsp;&nbsp;&nbsp;4.047%, 09/18/2026 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9994457 |
| &nbsp;&nbsp;&nbsp;4.054%, 03/23/2026 | &nbsp;&nbsp;&nbsp;4792125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4760020 |
| &nbsp;&nbsp;&nbsp;4.058%, 01/29/2026 | &nbsp;&nbsp;18515000 | &nbsp;&nbsp;&nbsp;&nbsp;18457542 |
| &nbsp;&nbsp;&nbsp;4.065%, 02/17/2026 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1493381 |
| &nbsp;&nbsp;&nbsp;4.083%, 02/24/2026 | &nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2785967 |
| &nbsp;&nbsp;&nbsp;4.163%, 06/10/2026 | &nbsp;&nbsp;&nbsp;3645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644586 |
| &nbsp;&nbsp;&nbsp;4.164%, 02/26/2026 | &nbsp;&nbsp;&nbsp;7565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7525904 |
| &nbsp;&nbsp;&nbsp;4.180%, 01/23/2026 | &nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699909 |
| &nbsp;&nbsp;&nbsp;4.197%, 01/21/2026 | &nbsp;&nbsp;&nbsp;2420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419861 |
| &nbsp;&nbsp;&nbsp;4.238%, 01/16/2026 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9999989 |
| &nbsp;&nbsp;&nbsp;4.245%, 03/24/2026 | &nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397452 |
| &nbsp;&nbsp;&nbsp;4.249%, 01/27/2026 | &nbsp;&nbsp;&nbsp;1510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510037 |
| &nbsp;&nbsp;&nbsp;4.270%, 10/09/2026 | &nbsp;&nbsp;14000000 | &nbsp;&nbsp;&nbsp;&nbsp;14027123 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.618%, 01/22/2027 | &nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;17989283 |
| &nbsp;&nbsp;&nbsp;3.735%, 11/20/2026 | &nbsp;&nbsp;&nbsp;4179000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4175403 |
| &nbsp;&nbsp;&nbsp;3.825%, 03/30/2026 | &nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3968533 |
| &nbsp;&nbsp;&nbsp;3.867%, 10/23/2026 | &nbsp;&nbsp;&nbsp;1606000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604912 |
| Federal National Mortgage Association<br> 3.695%, 09/24/2026 | &nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4936353 |
| TOTAL U.S. GOVERNMENT AGENCY (Cost $1,229,989,433) |  | $1229989433 |
| **REPURCHASE AGREEMENT – 27.6%** | **REPURCHASE AGREEMENT – 27.6%** |  |
| Barclays Tri-Party Repurchase Agreement dated 12-31-25 at 3.820% to be repurchased at $54,011,460 on 1-2-26, collateralized by $53,425,400 U.S. Treasury Notes, 4.375% due 5-15-34 (valued at $55,091,706) | &nbsp;&nbsp;54000000 | &nbsp;&nbsp;&nbsp;&nbsp;54000000 |
| Goldman Sachs Tri-Party Repurchase Agreement dated 12-31-25 at 3.780% to be repurchased at $266,055,860 on 1-2-26, collateralized by $122,363,100 U.S. Treasury Notes, 3.625% - 4.375% due 8-31-28 to 12-31-30 (valued at $126,862,919), $272,008,684 U.S. Treasury Interest STRIPS, 0.000% due 8-15-39 (valued at $143,800,111), $209,100 U.S. Treasury Principal STRIPS, 0.000% due 5-15-41 to 8-15-45 (valued at $89,657) and $612,477 U.S. Treasury Inflation Indexed Bonds, 2.375% due 1-15-27 (valued at $624,291) | 266000000 | &nbsp;&nbsp;&nbsp;&nbsp;266000000 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **REPURCHASE AGREEMENT (continued)** | **REPURCHASE AGREEMENT (continued)** |  |
| Repurchase Agreement with State Street Corp. dated 12-31-25 at 1.060% to be repurchased at $675,488 on 1-2-26, collateralized by $682,400 U.S. Treasury Notes, 3.750% due 4-30-27 (valued at $689,159) | &nbsp;&nbsp;&nbsp;&nbsp;675448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675448 |
| Repurchase Agreement with State Street Corp. dated 12-31-25 at 3.800% to be repurchased at $280,059,111 on 1-2-26, collateralized by $284,411,300 U.S. Treasury Notes, 3.750% due 6-30-27 (valued at $285,600,102) | 280000000 | &nbsp;&nbsp;&nbsp;&nbsp;280000000 |
| TOTAL REPURCHASE AGREEMENT (Cost $600,675,448) | TOTAL REPURCHASE AGREEMENT (Cost $600,675,448) | $&nbsp;&nbsp;&nbsp;&nbsp;600675448 |
| **Total Investments (Money Market Trust)<br> (Cost $2,194,674,867) – 101.0%** | **Total Investments (Money Market Trust)<br> (Cost $2,194,674,867) – 101.0%** | $**2194674867** |
| **Other assets and liabilities, net – (1.0%)** |  | &nbsp;&nbsp;&nbsp;**(21680144)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**2172994723** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| SOFR | Secured Overnight Financing Rate |
| STRIPS | Separate Trading of Registered Interest and Principal Securities |
| USBMMY | U.S. Treasury Bill Money Market Yield |
| (A) | Variable rate obligation. |

---

#### Opportunistic Fixed Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 26.9%** |  |  |
| **U.S. Government - 6.4%** |  |  |
| U.S. Treasury Bonds<br> 4.750%, 05/15/2055 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128900 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126664 |
| U.S. Treasury Inflation<br> Protected Securities |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 02/15/2051 to 02/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443160 |
| &nbsp;&nbsp;&nbsp;0.250%, 02/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444423 |
| &nbsp;&nbsp;&nbsp;1.125%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4640103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4569012 |
| &nbsp;&nbsp;&nbsp;2.125%, 02/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781804 |
| &nbsp;&nbsp;&nbsp;2.375%, 02/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795986 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52438 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33878 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9247365 |
| **U.S. Government Agency - 20.5%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 07/01/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70683 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/01/2040 to 12/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156367 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187312 |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578745 |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087848 |
| &nbsp;&nbsp;&nbsp;3.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184773 |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302396 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030371 |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2066000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2062578 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/01/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142453 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2087000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123894 |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8277000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500727 |
| &nbsp;&nbsp;&nbsp;6.000%, 07/01/2038 to 09/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241377 |
| &nbsp;&nbsp;&nbsp;6.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856872 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946399 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 55 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |  |
| **U.S. Government Agency (continued)** |  |  |  |
| Government National<br> Mortgage Association (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (A) | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725000 | $&nbsp;&nbsp;&nbsp;&nbsp;684108 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;355745 |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (A) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;698303 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (A) |  | &nbsp;&nbsp;&nbsp;&nbsp;1385000 | &nbsp;&nbsp;&nbsp;1398368 |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (A) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;748968 |
|  |  |  | 29358287 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $38,659,490) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $38,659,490) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $38,659,490) | $38605652 |
| **FOREIGN GOVERNMENT OBLIGATIONS - 45.4%** | **FOREIGN GOVERNMENT OBLIGATIONS - 45.4%** | **FOREIGN GOVERNMENT OBLIGATIONS - 45.4%** |  |
| **Argentina - 0.2%** |  |  |  |
| Republic of Argentina<br> 4.125%, (4.125% to 7-9-27, then 4.750% to 7-9-28, then 5.000% thereafter), 07/09/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;357120 |
| **Australia - 4.3%** |  |  |  |
| Commonwealth of Australia |  |  |  |
| &nbsp;&nbsp;&nbsp;1.000%, 12/21/2030 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;5320000 | &nbsp;&nbsp;&nbsp;3028337 |
| &nbsp;&nbsp;&nbsp;1.750%, 06/21/2051 |  | &nbsp;&nbsp;&nbsp;&nbsp;7195000 | &nbsp;&nbsp;&nbsp;2425376 |
| Commonwealth of Australia, Inflation-Linked Bond<br> 1.263%, 02/21/2050 |  | &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;757397 |
|  |  |  | &nbsp;&nbsp;&nbsp;6211110 |
| **Brazil - 7.4%** |  |  |  |
| Federative Republic of Brazil |  |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 05/15/2035 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;3723000 | &nbsp;&nbsp;&nbsp;2861071 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2027 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98643 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2029 |  | &nbsp;&nbsp;&nbsp;&nbsp;36906000 | &nbsp;&nbsp;&nbsp;6232513 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2031 |  | &nbsp;&nbsp;&nbsp;&nbsp;3149000 | &nbsp;&nbsp;&nbsp;&nbsp;504654 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2033 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42719 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;3910000 | &nbsp;&nbsp;&nbsp;&nbsp;584462 |
| &nbsp;&nbsp;&nbsp;12.876%, 01/01/2028 (B) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82624 |
| &nbsp;&nbsp;&nbsp;13.177%, 01/01/2030 (B) |  | &nbsp;&nbsp;&nbsp;&nbsp;1783000 | &nbsp;&nbsp;&nbsp;&nbsp;196820 |
|  |  |  | 10603506 |
| **Chile - 0.2%** |  |  |  |
| Republic of Chile |  |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 09/01/2030 (C) | CLP | &nbsp;&nbsp;&nbsp;&nbsp;55000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60993 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;90000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99367 |
| &nbsp;&nbsp;&nbsp;5.800%, 10/01/2034 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17472 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/01/2043 |  | &nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18223 |
| &nbsp;&nbsp;&nbsp;6.200%, 10/01/2040 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12195 |
| &nbsp;&nbsp;&nbsp;7.000%, 05/01/2034 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12487 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;220737 |
| **Colombia - 2.1%** |  |  |  |
| Republic of Colombia |  |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 02/25/2037 | COP | 3079686539 | &nbsp;&nbsp;&nbsp;&nbsp;633918 |
| &nbsp;&nbsp;&nbsp;5.000%, 09/19/2032 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;122934 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/20/2041 | COP | 3371571723 | &nbsp;&nbsp;&nbsp;&nbsp;778449 |
| &nbsp;&nbsp;&nbsp;5.625%, 02/19/2036 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;368037 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/09/2036 | COP | &nbsp;&nbsp;499700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81887 |
| &nbsp;&nbsp;&nbsp;6.500%, 11/26/2038 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;465115 |
| &nbsp;&nbsp;&nbsp;7.000%, 03/26/2031 | COP | &nbsp;&nbsp;104300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21488 |
| &nbsp;&nbsp;&nbsp;7.000%, 06/30/2032 |  | &nbsp;&nbsp;495200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96657 |
| &nbsp;&nbsp;&nbsp;7.250%, 10/18/2034 |  | &nbsp;&nbsp;492700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92186 |
| &nbsp;&nbsp;&nbsp;7.750%, 09/18/2030 |  | &nbsp;&nbsp;&nbsp;&nbsp;86900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18848 |
| &nbsp;&nbsp;&nbsp;9.250%, 05/28/2042 |  | 1098500000 | &nbsp;&nbsp;&nbsp;&nbsp;215671 |
| &nbsp;&nbsp;&nbsp;11.750%, 01/24/2035 |  | &nbsp;&nbsp;166600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41007 |
| &nbsp;&nbsp;&nbsp;13.250%, 02/09/2033 |  | &nbsp;&nbsp;188300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50029 |
|  |  |  | &nbsp;&nbsp;&nbsp;2986226 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Czech Republic - 5.4%** |  |  |
| Czech Republic |  |  |
| &nbsp;&nbsp;&nbsp;1.200%, 03/13/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1270000 | $&nbsp;&nbsp;&nbsp;&nbsp;52543 |
| &nbsp;&nbsp;&nbsp;1.500%, 04/24/2040 | &nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;48699 |
| &nbsp;&nbsp;&nbsp;1.950%, 07/30/2037 | &nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;42177 |
| &nbsp;&nbsp;&nbsp;2.000%, 10/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp;2080000 | &nbsp;&nbsp;&nbsp;&nbsp;83590 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/03/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;20931 |
| &nbsp;&nbsp;&nbsp;3.500%, 05/30/2035 | &nbsp;&nbsp;105940000 | 4705261 |
| &nbsp;&nbsp;&nbsp;3.500%, 05/30/2035 | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;53297 |
| &nbsp;&nbsp;&nbsp;4.200%, 12/04/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;31297 |
| &nbsp;&nbsp;&nbsp;4.250%, 10/24/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;18088 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/11/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1770000 | &nbsp;&nbsp;&nbsp;&nbsp;86310 |
| &nbsp;&nbsp;&nbsp;4.900%, 04/14/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;25506 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/29/2029 | &nbsp;&nbsp;&nbsp;&nbsp;48990000 | 2519279 |
|  |  | 7686978 |
| **France - 1.4%** |  |  |
| Government of France |  |  |
| &nbsp;&nbsp;&nbsp;0.100%, 03/01/2036 (C) | &nbsp;&nbsp;&nbsp;&nbsp;1447060 | 1421553 |
| &nbsp;&nbsp;&nbsp;0.550%, 03/01/2039 (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570791 | &nbsp;&nbsp;&nbsp;&nbsp;556597 |
|  |  | 1978150 |
| **Gabon - 0.1%** |  |  |
| Republic of Gabon<br> 6.625%, 02/06/2031 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;154902 |
| **Germany - 1.0%** |  |  |
| Federal Republic of Germany, Inflation-Linked Bond<br> 0.100%, 04/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;1517176 | 1369500 |
| **Ghana - 0.1%** |  |  |
| Republic of Ghana |  |  |
| &nbsp;&nbsp;&nbsp;3.721%, 07/03/2026 (B)(C) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3926 |
| &nbsp;&nbsp;&nbsp;5.000%, (5.000% to 7-3-28, then 6.000% thereafter), 07/03/2029 (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60500 | &nbsp;&nbsp;&nbsp;&nbsp;59330 |
| &nbsp;&nbsp;&nbsp;5.000%, (5.000% to 7-3-28, then 6.000% thereafter), 07/03/2035 (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp;79484 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;142740 |
| **Hungary - 0.6%** |  |  |
| Republic of Hungary |  |  |
| &nbsp;&nbsp;&nbsp;1.625%, 04/28/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;534469 |
| &nbsp;&nbsp;&nbsp;2.250%, 06/22/2034 | &nbsp;&nbsp;&nbsp;&nbsp;10250000 | &nbsp;&nbsp;&nbsp;&nbsp;22458 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/27/2038 | &nbsp;&nbsp;&nbsp;&nbsp;67460000 | &nbsp;&nbsp;&nbsp;&nbsp;136177 |
| &nbsp;&nbsp;&nbsp;3.125%, 09/21/2051 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;123017 |
| &nbsp;&nbsp;&nbsp;7.000%, 10/24/2035 | &nbsp;&nbsp;&nbsp;&nbsp;15690000 | &nbsp;&nbsp;&nbsp;&nbsp;48550 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;864671 |
| **Iceland - 0.9%** |  |  |
| Republic of Iceland |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;92220000 | &nbsp;&nbsp;&nbsp;&nbsp;701360 |
| &nbsp;&nbsp;&nbsp;6.500%, 01/24/2031 | &nbsp;&nbsp;&nbsp;&nbsp;82610000 | &nbsp;&nbsp;&nbsp;&nbsp;654646 |
|  |  | 1356006 |
| **India - 2.9%** |  |  |
| Republic of India |  |  |
| &nbsp;&nbsp;&nbsp;6.330%, 05/05/2035 | &nbsp;&nbsp;104270000 | 1137295 |
| &nbsp;&nbsp;&nbsp;6.790%, 10/07/2034 | &nbsp;&nbsp;&nbsp;&nbsp;92820000 | 1038879 |
| &nbsp;&nbsp;&nbsp;6.790%, 12/02/2034 | &nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;&nbsp;&nbsp;12149 |
| &nbsp;&nbsp;&nbsp;7.300%, 06/19/2053 | &nbsp;&nbsp;181640000 | 2013298 |
|  |  | 4201621 |
| **Indonesia - 0.5%** |  |  |
| Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 03/15/2031 | &nbsp;&nbsp;581000000 | &nbsp;&nbsp;&nbsp;&nbsp;35337 |
| &nbsp;&nbsp;&nbsp;6.625%, 05/15/2033 | &nbsp;&nbsp;430000000 | &nbsp;&nbsp;&nbsp;&nbsp;26511 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/15/2029 | &nbsp;&nbsp;716000000 | &nbsp;&nbsp;&nbsp;&nbsp;44731 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/15/2033 | 2096000000 | &nbsp;&nbsp;&nbsp;&nbsp;132056 |
| &nbsp;&nbsp;&nbsp;7.125%, 06/15/2038 | 2656000000 | &nbsp;&nbsp;&nbsp;&nbsp;169380 |
| &nbsp;&nbsp;&nbsp;7.125%, 08/15/2040 | &nbsp;&nbsp;657000000 | &nbsp;&nbsp;&nbsp;&nbsp;42209 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 56 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Indonesia (continued)** |  |  |  |
| Republic of Indonesia (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, 06/15/2042 | IDR | &nbsp;&nbsp;271000000 | $&nbsp;&nbsp;&nbsp;&nbsp;17193 |
| &nbsp;&nbsp;&nbsp;7.125%, 06/15/2043 |  | &nbsp;&nbsp;325000000 | &nbsp;&nbsp;&nbsp;&nbsp;20610 |
| &nbsp;&nbsp;&nbsp;7.125%, 08/15/2045 |  | 1618000000 | &nbsp;&nbsp;&nbsp;&nbsp;103907 |
| &nbsp;&nbsp;&nbsp;7.500%, 08/15/2032 |  | 1727000000 | &nbsp;&nbsp;&nbsp;&nbsp;111503 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/15/2038 |  | &nbsp;&nbsp;186000000 | &nbsp;&nbsp;&nbsp;&nbsp;12180 |
| &nbsp;&nbsp;&nbsp;8.250%, 05/15/2036 |  | &nbsp;&nbsp;514000000 | &nbsp;&nbsp;&nbsp;&nbsp;35399 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;751016 |
| **Japan - 2.7%** |  |  |  |
| Government of Japan |  |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 03/20/2045 | JPY | &nbsp;&nbsp;125550000 | &nbsp;&nbsp;&nbsp;&nbsp;740771 |
| &nbsp;&nbsp;&nbsp;2.400%, 03/20/2055 |  | &nbsp;&nbsp;&nbsp;&nbsp;95900000 | &nbsp;&nbsp;&nbsp;&nbsp;502014 |
| &nbsp;&nbsp;&nbsp;2.800%, 06/20/2055 |  | &nbsp;&nbsp;473550000 | 2701792 |
|  |  |  | 3944577 |
| **Lithuania - 0.3%** |  |  |  |
| Republic of Lithuania |  |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 07/28/2050 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;119619 |
| &nbsp;&nbsp;&nbsp;0.750%, 07/15/2051 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;245434 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;365053 |
| **Malaysia - 0.7%** |  |  |  |
| Government of Malaysia |  |  |  |
| &nbsp;&nbsp;&nbsp;2.632%, 04/15/2031 | MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453000 | &nbsp;&nbsp;&nbsp;&nbsp;107747 |
| &nbsp;&nbsp;&nbsp;3.582%, 07/15/2032 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314000 | &nbsp;&nbsp;&nbsp;&nbsp;78175 |
| &nbsp;&nbsp;&nbsp;3.757%, 05/22/2040 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;66294 |
| &nbsp;&nbsp;&nbsp;3.828%, 07/05/2034 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;141282 |
| &nbsp;&nbsp;&nbsp;3.885%, 08/15/2029 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691000 | &nbsp;&nbsp;&nbsp;&nbsp;174145 |
| &nbsp;&nbsp;&nbsp;4.254%, 05/31/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791000 | &nbsp;&nbsp;&nbsp;&nbsp;206189 |
| &nbsp;&nbsp;&nbsp;4.457%, 03/31/2053 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108000 | &nbsp;&nbsp;&nbsp;&nbsp;28722 |
| &nbsp;&nbsp;&nbsp;4.642%, 11/07/2033 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;71514 |
| &nbsp;&nbsp;&nbsp;4.696%, 10/15/2042 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp;37795 |
| &nbsp;&nbsp;&nbsp;4.893%, 06/08/2038 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;32926 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;944789 |
| **Mexico - 1.1%** |  |  |  |
| Government of Mexico |  |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 11/27/2031 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;4216577 | &nbsp;&nbsp;&nbsp;&nbsp;211774 |
| &nbsp;&nbsp;&nbsp;5.625%, 03/19/2114 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;103018 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/26/2033 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6658 |
| &nbsp;&nbsp;&nbsp;7.703%, 07/08/2027 (B) |  | &nbsp;&nbsp;&nbsp;&nbsp;3380150 | &nbsp;&nbsp;&nbsp;&nbsp;167450 |
| &nbsp;&nbsp;&nbsp;7.750%, 11/23/2034 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;7.750%, 11/13/2042 |  | &nbsp;&nbsp;&nbsp;&nbsp;6317500 | &nbsp;&nbsp;&nbsp;&nbsp;299869 |
| &nbsp;&nbsp;&nbsp;7.775%, 09/02/2027 (B) |  | &nbsp;&nbsp;&nbsp;&nbsp;4274810 | &nbsp;&nbsp;&nbsp;&nbsp;209104 |
| &nbsp;&nbsp;&nbsp;7.846%, 10/28/2027 (B) |  | &nbsp;&nbsp;&nbsp;&nbsp;6630140 | &nbsp;&nbsp;&nbsp;&nbsp;320169 |
| &nbsp;&nbsp;&nbsp;8.000%, 05/24/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305700 | &nbsp;&nbsp;&nbsp;&nbsp;15816 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/07/2047 |  | &nbsp;&nbsp;&nbsp;&nbsp;2473000 | &nbsp;&nbsp;&nbsp;&nbsp;118159 |
| &nbsp;&nbsp;&nbsp;8.000%, 07/31/2053 |  | &nbsp;&nbsp;&nbsp;&nbsp;1747300 | &nbsp;&nbsp;&nbsp;&nbsp;82705 |
| &nbsp;&nbsp;&nbsp;8.000%, 04/29/2055 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780300 | &nbsp;&nbsp;&nbsp;&nbsp;36786 |
|  |  |  | 1571560 |
| **New Zealand - 0.7%** |  |  |  |
| Government of New Zealand,<br> Inflation-Linked Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;3.276%, 09/20/2050 | NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;413393 |
| &nbsp;&nbsp;&nbsp;3.327%, 09/20/2040 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;576079 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;989472 |
| **Norway - 4.5%** |  |  |  |
| Kingdom of Norway |  |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 09/17/2031 (C) | NOK | &nbsp;&nbsp;&nbsp;&nbsp;42940000 | 3677581 |
| &nbsp;&nbsp;&nbsp;1.375%, 08/19/2030 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;14890000 | 1320209 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2033 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;15870000 | 1464643 |
|  |  |  | 6462433 |
| **Peru - 0.1%** |  |  |  |
| Republic of Peru |  |  |  |
| &nbsp;&nbsp;&nbsp;5.350%, 08/12/2040 | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111000 | &nbsp;&nbsp;&nbsp;&nbsp;29276 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Peru (continued)** |  |  |  |
| Republic of Peru (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 08/12/2034 | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62000 | $&nbsp;&nbsp;&nbsp;&nbsp;18370 |
| &nbsp;&nbsp;&nbsp;6.150%, 08/12/2032 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;25028 |
| &nbsp;&nbsp;&nbsp;6.900%, 08/12/2037 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7770 |
| &nbsp;&nbsp;&nbsp;6.950%, 08/12/2031 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;49591 |
| &nbsp;&nbsp;&nbsp;7.600%, 08/12/2039 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239000 | &nbsp;&nbsp;&nbsp;&nbsp;77554 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;207589 |
| **Poland - 0.4%** |  |  |  |
| Republic of Poland |  |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 04/25/2032 | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;58365 |
| &nbsp;&nbsp;&nbsp;4.750%, 07/25/2029 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251000 | &nbsp;&nbsp;&nbsp;&nbsp;71138 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/25/2034 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664000 | &nbsp;&nbsp;&nbsp;&nbsp;183925 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/25/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319000 | &nbsp;&nbsp;&nbsp;&nbsp;87630 |
| &nbsp;&nbsp;&nbsp;6.000%, 10/25/2033 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;114215 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;515273 |
| **Romania - 1.2%** |  |  |  |
| Republic of Romania |  |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 10/11/2034 | RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;114042 |
| &nbsp;&nbsp;&nbsp;5.000%, 02/12/2029 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;20940 |
| &nbsp;&nbsp;&nbsp;5.375%, 06/07/2033 (C) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;23714 |
| &nbsp;&nbsp;&nbsp;6.700%, 02/25/2032 | RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;33309 |
| &nbsp;&nbsp;&nbsp;6.750%, 04/25/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;186414 |
| &nbsp;&nbsp;&nbsp;6.750%, 07/11/2039 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000 | 1062477 |
| &nbsp;&nbsp;&nbsp;7.650%, 07/27/2031 | RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;93722 |
| &nbsp;&nbsp;&nbsp;8.000%, 04/29/2030 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;36249 |
| &nbsp;&nbsp;&nbsp;8.250%, 09/29/2032 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;84442 |
|  |  |  | 1655309 |
| **South Africa - 0.9%** |  |  |  |
| Republic of South Africa |  |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 03/31/2036 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;2327000 | &nbsp;&nbsp;&nbsp;&nbsp;119142 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/28/2031 |  | &nbsp;&nbsp;&nbsp;&nbsp;2215000 | &nbsp;&nbsp;&nbsp;&nbsp;130467 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/28/2031 |  | &nbsp;&nbsp;&nbsp;&nbsp;1345000 | &nbsp;&nbsp;&nbsp;&nbsp;79223 |
| &nbsp;&nbsp;&nbsp;8.000%, 01/31/2030 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;14413 |
| &nbsp;&nbsp;&nbsp;8.250%, 03/31/2032 |  | &nbsp;&nbsp;&nbsp;&nbsp;1201000 | &nbsp;&nbsp;&nbsp;&nbsp;74129 |
| &nbsp;&nbsp;&nbsp;8.500%, 01/31/2037 |  | &nbsp;&nbsp;&nbsp;&nbsp;2968000 | &nbsp;&nbsp;&nbsp;&nbsp;177292 |
| &nbsp;&nbsp;&nbsp;8.750%, 01/31/2044 |  | &nbsp;&nbsp;&nbsp;&nbsp;3268000 | &nbsp;&nbsp;&nbsp;&nbsp;188533 |
| &nbsp;&nbsp;&nbsp;8.750%, 02/28/2048 |  | &nbsp;&nbsp;&nbsp;&nbsp;1424000 | &nbsp;&nbsp;&nbsp;&nbsp;82554 |
| &nbsp;&nbsp;&nbsp;8.875%, 02/28/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;2836000 | &nbsp;&nbsp;&nbsp;&nbsp;177995 |
| &nbsp;&nbsp;&nbsp;9.000%, 01/31/2040 |  | &nbsp;&nbsp;&nbsp;&nbsp;1386000 | &nbsp;&nbsp;&nbsp;&nbsp;83715 |
| &nbsp;&nbsp;&nbsp;9.875%, 03/31/2039 |  | &nbsp;&nbsp;&nbsp;&nbsp;1029000 | &nbsp;&nbsp;&nbsp;&nbsp;66423 |
| &nbsp;&nbsp;&nbsp;11.625%, 03/31/2053 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627000 | &nbsp;&nbsp;&nbsp;&nbsp;47740 |
| Republic of South Africa,<br> CPI-Linked Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 01/31/2038 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351463 | &nbsp;&nbsp;&nbsp;&nbsp;17022 |
| &nbsp;&nbsp;&nbsp;2.500%, 03/31/2046 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743974 | &nbsp;&nbsp;&nbsp;&nbsp;34095 |
|  |  |  | 1292743 |
| **South Korea - 2.7%** |  |  |  |
| Republic of Korea<br> 2.625%, 06/10/2035 | KRW | 6066450000 | 3944658 |
| **Thailand - 0.6%** |  |  |  |
| Kingdom of Thailand |  |  |  |
| &nbsp;&nbsp;&nbsp;1.585%, 12/17/2035 | THB | &nbsp;&nbsp;&nbsp;&nbsp;3940000 | &nbsp;&nbsp;&nbsp;&nbsp;124589 |
| &nbsp;&nbsp;&nbsp;1.600%, 06/17/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917000 | &nbsp;&nbsp;&nbsp;&nbsp;29091 |
| &nbsp;&nbsp;&nbsp;2.000%, 12/17/2031 |  | &nbsp;&nbsp;&nbsp;&nbsp;4406000 | &nbsp;&nbsp;&nbsp;&nbsp;145156 |
| &nbsp;&nbsp;&nbsp;2.000%, 06/17/2042 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9746 |
| &nbsp;&nbsp;&nbsp;2.410%, 03/17/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;1853000 | &nbsp;&nbsp;&nbsp;&nbsp;62820 |
| &nbsp;&nbsp;&nbsp;2.800%, 06/17/2034 |  | &nbsp;&nbsp;&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;&nbsp;43818 |
| &nbsp;&nbsp;&nbsp;2.875%, 12/17/2028 |  | &nbsp;&nbsp;&nbsp;&nbsp;3746000 | &nbsp;&nbsp;&nbsp;&nbsp;124775 |
| &nbsp;&nbsp;&nbsp;2.875%, 06/17/2046 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;26633 |
| &nbsp;&nbsp;&nbsp;2.980%, 06/17/2045 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352000 | &nbsp;&nbsp;&nbsp;&nbsp;12399 |
| &nbsp;&nbsp;&nbsp;3.350%, 06/17/2033 |  | &nbsp;&nbsp;&nbsp;&nbsp;4861000 | &nbsp;&nbsp;&nbsp;&nbsp;175318 |
| &nbsp;&nbsp;&nbsp;3.450%, 06/17/2043 |  | &nbsp;&nbsp;&nbsp;&nbsp;3495000 | &nbsp;&nbsp;&nbsp;&nbsp;129222 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;883567 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 57 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Turkey - 0.3%** |  |  |
| Republic of Turkey |  |  |
| &nbsp;&nbsp;&nbsp;6.120%, 09/11/2030 | 7289491 | $&nbsp;&nbsp;&nbsp;&nbsp;168374 |
| &nbsp;&nbsp;&nbsp;26.200%, 10/05/2033 | 6355840 | &nbsp;&nbsp;&nbsp;&nbsp;143488 |
| &nbsp;&nbsp;&nbsp;27.700%, 09/27/2034 | 4424000 | &nbsp;&nbsp;&nbsp;&nbsp;105132 |
| &nbsp;&nbsp;&nbsp;30.000%, 09/12/2029 | 2872000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65306 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;482300 |
| **United Kingdom - 2.0%** |  |  |
| United Kingdom of Great Britain,<br> Inflation-Linked GILT |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 03/22/2051 | 1121891 | &nbsp;&nbsp;&nbsp;&nbsp;928585 |
| &nbsp;&nbsp;&nbsp;0.250%, 03/22/2052 | &nbsp;&nbsp;925623 | &nbsp;&nbsp;&nbsp;&nbsp;783125 |
| &nbsp;&nbsp;&nbsp;0.500%, 03/22/2050 | &nbsp;&nbsp;639478 | &nbsp;&nbsp;&nbsp;&nbsp;598451 |
| &nbsp;&nbsp;&nbsp;1.250%, 11/22/2054 | &nbsp;&nbsp;516485 | &nbsp;&nbsp;&nbsp;&nbsp;568086 |
|  |  | &nbsp;&nbsp;&nbsp;2878247 |
| **Uruguay - 0.1%** |  |  |
| Republic of Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;8.000%, 10/29/2035 | 1212000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31953 |
| &nbsp;&nbsp;&nbsp;9.750%, 07/20/2033 | 2502000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;103576 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $65,571,378) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $65,571,378) | $65125429 |
| **CORPORATE BONDS - 16.1%** | **CORPORATE BONDS - 16.1%** |  |
| **Bermuda - 0.1%** |  |  |
| Transocean International, Ltd.<br> 8.750%, 02/15/2030 (C) | $&nbsp;&nbsp;187500 | &nbsp;&nbsp;&nbsp;&nbsp;195920 |
| **Canada - 1.1%** |  |  |
| AltaGas, Ltd.<br> 7.200%, (7.200% to 10-15-34, then 5 Year CMT + 3.573%), 10/15/2054 (C) | &nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96417 |
| Bausch Health Companies, Inc.<br> 4.875%, 06/01/2028 (C) | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22375 |
| Bell Canada<br> 7.000%, (7.000% to 9-15-35, then 5 Year CMT + 2.363%), 09/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44135 |
| Emera, Inc.<br> 6.750%, (6.750% to 6-15-26, then 3 month LIBOR + 5.440% to 6-15-46, then 3 month LIBOR + 6.190%), 06/15/2076 | &nbsp;&nbsp;126000 | &nbsp;&nbsp;&nbsp;&nbsp;126577 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 7-15-30, then 5 Year CMT + 5.314% to 7-15-50, then 5 Year CMT + 6.064%), 07/15/2080 | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14133 |
| &nbsp;&nbsp;&nbsp;8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63067 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 06/01/2029 (C) | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9807 |
| &nbsp;&nbsp;&nbsp;8.375%, 11/15/2032 (C) | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61117 |
| goeasy, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 05/15/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9547 |
| &nbsp;&nbsp;&nbsp;6.875%, 02/15/2031 (C) | &nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88862 |
| &nbsp;&nbsp;&nbsp;7.375%, 10/01/2030 (C) | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;168404 |
| Ontario Gaming GTA LP<br> 8.000%, 08/01/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66374 |
| Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 03/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62417 |
| &nbsp;&nbsp;&nbsp;5.450%, 10/01/2043 | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61268 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Canada (continued)** |  |  |
| South Bow Canadian Infrastructure Holdings, Ltd.<br> 7.625%, (7.625% to 3-1-30, then 5 Year CMT + 3.949%), 03/01/2055 | $&nbsp;&nbsp;34000 | $&nbsp;&nbsp;&nbsp;&nbsp;35441 |
| TELUS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 6-9-31, then 5 Year CMT + 2.694%), 06/09/2056 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;130216 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 6-9-36, then 5 Year CMT + 2.515%), 06/09/2056 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;154848 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 10-15-35, then 5 Year CMT + 2.709%), 10/15/2055 | &nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;&nbsp;87442 |
| TransCanada PipeLines, Ltd.<br> 7.000%, (7.000% to 6-1-30, then 5 Year CMT + 2.614%), 06/01/2065 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;61847 |
| Transcanada Trust |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, (5.600% to 3-7-32, then 5 Year CMT + 3.986% to 3-7-52, then 5 Year CMT + 4.736%), 03/07/2082 | 144000 | &nbsp;&nbsp;&nbsp;&nbsp;142225 |
| &nbsp;&nbsp;&nbsp;5.875%, (5.875% to 8-15-26, then 3 month LIBOR + 4.640% to 8-15-46, then 3 month LIBOR + 5.390%), 08/15/2076 | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;&nbsp;41050 |
|  |  | 1547569 |
| **Cayman Islands - 0.0%** |  |  |
| Azorra Finance, Ltd.<br> 7.250%, 01/15/2031 (C) | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;12574 |
| Diamond Foreign Asset Company<br> 8.500%, 10/01/2030 (C) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7415 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19989 |
| **Chile - 0.1%** |  |  |
| Inversiones CMPC SA<br> 6.125%, 02/26/2034 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;205916 |
| **China - 0.0%** |  |  |
| CIFI Holdings Group Company, Ltd.<br> 4.375%, 04/12/2027 (D) | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;23725 |
| Country Garden Holdings Company, Ltd.<br> 3.875%, 10/22/2030 (D) | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;27188 |
| Yuzhou Group Holdings Company, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;1.000%, (0.000% Cash and 1.000% PIK), 06/30/2034 | &nbsp;&nbsp;25135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| &nbsp;&nbsp;&nbsp;4.000%, (0.000% Cash and 4.000% PIK), 06/30/2028 | &nbsp;&nbsp;26734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 |
| &nbsp;&nbsp;&nbsp;4.500%, (0.000% Cash and 4.500% PIK), 06/30/2029 | &nbsp;&nbsp;46556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931 |
| &nbsp;&nbsp;&nbsp;5.000%, (0.000% Cash and 5.000% PIK), 06/30/2030 | &nbsp;&nbsp;62142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243 |
| &nbsp;&nbsp;&nbsp;5.500%, (0.000% Cash and 5.500% PIK), 06/30/2031 | &nbsp;&nbsp;87176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859 |
| &nbsp;&nbsp;&nbsp;7.000%, (1.000% Cash and 6.000% PIK), 06/30/2027 | &nbsp;&nbsp;32480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3206 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;57812 |
| **Czech Republic - 0.1%** |  |  |
| Ceska sporitelna AS<br> 3.743%, (3.743% to 9-9-31, then 3 month EURIBOR + 1.300%), 09/09/2032 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;117584 |
| **Denmark - 0.3%** |  |  |
| Jyske Bank A/S<br> 3.500%, (3.500% to 11-19-30, then 1 Year EURIBOR ICE Swap Rate + 1.270%), 11/19/2031 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;117746 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 58 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Denmark (continued)** |  |  |
| Spar Nord Bank A/S<br> 4.125%, (4.125% to 10-1-29, then 1 Year EURIBOR ICE Swap Rate + 1.850%), 10/01/2030 | 300000 | $362195 |
|  |  | 479941 |
| **France - 0.5%** |  |  |
| Orange SA |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 01/13/2042 | $260000 | 254675 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/06/2044 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;64044 |
| Societe Generale SA<br> 6.125%, (6.125% to 9-17-32, then 5 Year EURIBOR ICE Swap Rate + 3.779%), 03/17/2032 (E) | 200000 | 238645 |
| Sogecap SA<br> 6.250%, (6.250% to 1-8-36, then 5 Year EURIBOR ICE Swap Rate + 3.753%), 07/08/2035 (E) | 100000 | 118226 |
|  |  | 675590 |
| **Germany - 0.2%** |  |  |
| Deutsche Telekom AG<br> 3.625%, 01/21/2050 (C) | $150000 | 108151 |
| Muenchener Rueckversicherungs-Gesellschaft AG<br> 5.875%, (5.875% to 5-23-32, then 5 Year CMT + 3.982%), 05/23/2042 | 200000 | 208834 |
|  |  | 316985 |
| **Gibraltar - 0.1%** |  |  |
| 888 Acquisitions, Ltd.<br> 8.000%, 09/30/2031 | 130000 | 122587 |
| **Greece - 0.3%** |  |  |
| CrediaBank SA<br> 9.375%, (9.375% to 1-13-31, then 5 Year EURIBOR ICE Swap Rate + 7.277%), 01/31/2031 (E) | 100000 | 125659 |
| Piraeus Bank SA<br> 6.750%, (6.750% to 12-30-30, then 5 Year EURIBOR ICE Swap Rate + 4.596%), 12/30/2030 (E) | 200000 | 243116 |
|  |  | 368775 |
| **Ireland - 0.3%** |  |  |
| Adient Global Holdings, Ltd.<br> 7.500%, 02/15/2033 (C) | $&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;6192 |
| BMS Ireland Capital Funding DAC |  |  |
| &nbsp;&nbsp;&nbsp;4.289%, 11/10/2045 | 110000 | 126224 |
| &nbsp;&nbsp;&nbsp;4.581%, 11/10/2055 | 280000 | 318823 |
| TrueNoord Capital DAC<br> 8.750%, 03/01/2030 (C) | $&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21125 |
|  |  | 472364 |
| **Italy - 0.3%** |  |  |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;7.800%, 11/28/2053 (C) | 200000 | 244317 |
| &nbsp;&nbsp;&nbsp;8.248%, (8.248% to 11-21-32, then 1 Year CMT + 4.400%), 11/21/2033 (C) | 200000 | 236114 |
|  |  | 480431 |
| **Luxembourg - 0.1%** |  |  |
| Raizen Fuels Finance SA<br> 6.700%, 02/25/2037 | 200000 | 161771 |
| **Malta - 0.0%** |  |  |
| VistaJet Malta Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 02/01/2030 (C) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;6662 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Malta (continued)** |  |  |
| VistaJet Malta Finance PLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;9.500%, 06/01/2028 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;15000 | $&nbsp;&nbsp;&nbsp;15514 |
|  |  | &nbsp;&nbsp;&nbsp;22176 |
| **Mexico - 0.3%** |  |  |
| Orbia Advance Corp. SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 09/19/2042 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 172942 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/13/2035 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 194022 |
|  |  | 366964 |
| **Netherlands - 0.1%** |  |  |
| Deutsche Telekom International Finance BV<br> 4.875%, 03/06/2042 (C) | &nbsp;&nbsp;&nbsp;&nbsp;150000 | 138172 |
| **Singapore - 0.1%** |  |  |
| GLP Pte, Ltd.<br> 4.500%, (4.500% to 5-17-26, then 5 Year CMT + 3.735% to 5-17-31, then 5 Year CMT + 3.985% to 5-17-46, then 5 Year CMT + 4.735%), 05/17/2026 (E) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 134276 |
| **Spain - 0.3%** |  |  |
| CaixaBank SA<br> 4.885%, (4.885% to 7-3-30, then Overnight SOFR + 1.360%), 07/03/2031 (C) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 202760 |
| Unicaja Banco SA<br> 4.875%, (4.875% to 5-18-27, then 5 Year Euro Swap Rate + 5.020%), 11/18/2026 (E) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 236797 |
|  |  | 439557 |
| **Supranational - 0.4%** |  |  |
| Asian Development Bank<br> 5.630%, 11/10/2040 (B) | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;12196 |
| Asian Infrastructure Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 12/08/2031 | &nbsp;&nbsp;9800000 | 103527 |
| &nbsp;&nbsp;&nbsp;6.650%, 06/30/2033 | 14100000 | 154864 |
| &nbsp;&nbsp;&nbsp;6.900%, 10/23/2034 | &nbsp;&nbsp;4300000 | &nbsp;&nbsp;&nbsp;47799 |
| &nbsp;&nbsp;&nbsp;6.960%, 01/14/2035 | &nbsp;&nbsp;6400000 | &nbsp;&nbsp;&nbsp;70012 |
| European Bank for Reconstruction & Development<br> 6.750%, 03/14/2031 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;66237 |
| International Bank for Reconstruction & Development<br> 6.500%, 10/01/2037 | &nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;48990 |
|  |  | 503625 |
| **United Kingdom - 0.5%** |  |  |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.733%, (5.733% to 5-17-31, then Overnight SOFR + 1.520%), 05/17/2032 | $&nbsp;&nbsp;&nbsp;&nbsp;200000 | 210783 |
| &nbsp;&nbsp;&nbsp;7.050%, (7.050% to 12-5-30, then 5 Year CMT + 2.987%), 06/05/2030 (E) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 207907 |
| INEOS Finance PLC<br> 6.375%, 04/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;115000 | 118608 |
| Metro Bank Holdings PLC<br> 12.000%, (12.000% to 4-30-28, then 1 Year United Kingdom GILT Rate + 7.814%), 04/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | 153669 |
|  |  | 690967 |
| **United States - 10.9%** |  |  |
| Acadia Healthcare Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 04/15/2029 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;157000 | 151165 |
| &nbsp;&nbsp;&nbsp;7.375%, 03/15/2033 (C)(F) | &nbsp;&nbsp;&nbsp;&nbsp;120000 | 121200 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 59 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Acrisure LLC<br> 6.000%, 08/01/2029 (C) | $&nbsp;&nbsp;30000 | $&nbsp;&nbsp;&nbsp;29634 |
| Air Lease Corp.<br> 4.125%, (4.125% to 12-15-26, then 5 Year CMT + 3.149%), 12/15/2026 (E) | 104000 | 101523 |
| Aircastle, Ltd.<br> 5.250%, (5.250% to 9-15-26, then 5 Year CMT + 4.410% to 9-15-31, then 5 Year CMT + 4.660% to 9-15-46, then 5 Year CMT + 5.160%), 06/15/2026 (C)(E) | &nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;65672 |
| Alliant Holdings Intermediate LLC<br> 7.375%, 10/01/2032 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25922 |
| Allied Universal Holdco LLC<br> 7.875%, 02/15/2031 (C) | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;4216 |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 11/06/2064 | 280000 | 312610 |
| &nbsp;&nbsp;&nbsp;5.250%, 05/15/2055 | $120000 | 114934 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2065 | 125000 | 117560 |
| &nbsp;&nbsp;&nbsp;5.700%, 11/15/2075 | 105000 | 103346 |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 06/03/2060 | 110000 | &nbsp;&nbsp;&nbsp;62187 |
| &nbsp;&nbsp;&nbsp;3.100%, 05/12/2051 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;60422 |
| &nbsp;&nbsp;&nbsp;3.250%, 05/12/2061 | 290000 | 185540 |
| &nbsp;&nbsp;&nbsp;3.950%, 04/13/2052 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;62435 |
| &nbsp;&nbsp;&nbsp;4.100%, 04/13/2062 | 165000 | 126834 |
| &nbsp;&nbsp;&nbsp;4.250%, 08/22/2057 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;60089 |
| &nbsp;&nbsp;&nbsp;5.550%, 11/20/2065 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;63050 |
| American Assets Trust LP<br> 6.150%, 10/01/2034 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;65935 |
| American Axle & Manufacturing, Inc.<br> 7.750%, 10/15/2033 (C) | 125000 | 127322 |
| American Electric Power Company, Inc.<br> 5.800%, (5.800% to 3-15-31, then 5 Year CMT + 2.128%), 03/15/2056 | 180000 | 178697 |
| American National Group, Inc.<br> 7.000%, (7.000% to 12-1-30, then 5 Year CMT + 3.183%), 12/01/2055 | &nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;68073 |
| AmeriGas Partners LP<br> 9.375%, 06/01/2028 (C) | 210000 | 217718 |
| Antero Midstream Partners LP<br> 6.625%, 02/01/2032 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25877 |
| Apple, Inc.<br> 2.550%, 08/20/2060 | 225000 | 124881 |
| Ashton Woods USA LLC<br> 6.875%, 08/01/2033 (C) | 145000 | 145115 |
| Asurion LLC<br> 8.000%, 12/31/2032 (C) | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;79896 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 09/15/2053 | 180000 | 120460 |
| &nbsp;&nbsp;&nbsp;3.650%, 06/01/2051 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;59730 |
| Athene Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 05/25/2051 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;59389 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 6-28-35, then 5 Year CMT + 2.582%), 06/28/2055 | 190000 | 189854 |
| Avantor Funding, Inc.<br> 3.875%, 11/01/2029 (C) | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;10519 |
| Avis Budget Car Rental LLC<br> 8.375%, 06/15/2032 (C) | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;16522 |
| Basin Electric Power Cooperative<br> 5.850%, 10/15/2055 (C) | 100000 | &nbsp;&nbsp;&nbsp;97942 |
| Bath & Body Works, Inc.<br> 6.875%, 11/01/2035 | 125000 | 126459 |
| Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.132%, 12/01/2051 | 250000 | 157141 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Baxter International, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, 12/15/2035 | $130000 | $131562 |
| Brandywine Operating Partnership LP<br> 8.875%, 04/12/2029 | &nbsp;&nbsp;95000 | 102393 |
| Bread Financial Holdings, Inc.<br> 8.375%, (8.375% to 6-15-30, then 5 Year CMT + 4.300%), 06/15/2035 (C) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;77538 |
| Cargill, Inc.<br> 5.375%, 10/23/2055 (C) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;62556 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2031 (C) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;68914 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/01/2032 (C) | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;33816 |
| &nbsp;&nbsp;&nbsp;5.375%, 06/01/2029 (C) | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1977 |
| Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/15/2033 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;64659 |
| &nbsp;&nbsp;&nbsp;7.200%, 11/15/2033 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;68667 |
| Champ Acquisition Corp.<br> 8.375%, 12/01/2031 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;27003 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 04/01/2051 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;37766 |
| &nbsp;&nbsp;&nbsp;3.850%, 04/01/2061 | 230000 | 137059 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2053 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;59313 |
| &nbsp;&nbsp;&nbsp;6.834%, 10/23/2055 | 105000 | 100784 |
| Cipher Compute LLC<br> 7.125%, 11/15/2030 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10185 |
| Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.300%, 02/26/2054 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;62304 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/24/2055 | 125000 | 123590 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 2-15-31, then 5 Year CMT + 3.001%), 02/15/2031 (E) | 100000 | 101627 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 8-15-30, then 5 Year CMT + 2.890%), 08/15/2030 (E) | 125000 | 129888 |
| &nbsp;&nbsp;&nbsp;6.950%, (6.950% to 2-15-30, then 5 Year CMT + 2.726%), 02/15/2030 (E) | 125000 | 128872 |
| &nbsp;&nbsp;&nbsp;7.625%, (7.625% to 11-15-28, then 5 Year CMT + 3.211%), 11/15/2028 (E) | &nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;40892 |
| Clarios Global LP<br> 6.750%, 09/15/2032 (C) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5185 |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, 02/15/2031 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10471 |
| &nbsp;&nbsp;&nbsp;7.750%, 04/15/2028 (C) | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;8006 |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 08/15/2033 (C) | 130000 | 128837 |
| &nbsp;&nbsp;&nbsp;9.000%, 09/30/2029 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15623 |
| CMS Energy Corp.<br> 4.750%, (4.750% to 6-1-30, then 5 Year CMT + 4.116%), 06/01/2050 | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;70821 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.887%, 11/01/2051 | 225000 | 131579 |
| &nbsp;&nbsp;&nbsp;2.937%, 11/01/2056 | 210000 | 117994 |
| &nbsp;&nbsp;&nbsp;2.987%, 11/01/2063 | 110000 | &nbsp;&nbsp;&nbsp;59499 |
| &nbsp;&nbsp;&nbsp;5.650%, 06/01/2054 | 130000 | 121823 |
| &nbsp;&nbsp;&nbsp;6.050%, 05/15/2055 (F) | 120000 | 118522 |
| Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2031 (C) | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;23163 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/15/2029 (C) | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;5340 |
| Concentra Health Services, Inc.<br> 6.875%, 07/15/2032 (C) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5229 |
| Corebridge Financial, Inc.<br> 4.350%, 04/05/2042 | 150000 | 128254 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 60 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Cougar JV Subsidiary LLC<br> 8.000%, 05/15/2032 (C) | $&nbsp;&nbsp;16000 | $&nbsp;&nbsp;&nbsp;17105 |
| Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.800%, 12/15/2053 (C) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;59700 |
| &nbsp;&nbsp;&nbsp;5.950%, 09/01/2054 (C) | 140000 | 122558 |
| CP Atlas Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.750%, 07/15/2030 (C) | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;8286 |
| &nbsp;&nbsp;&nbsp;12.750%, (7.000% Cash and 5.750% PIK), 01/15/2031 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;18948 |
| Credit Acceptance Corp.<br> 6.625%, 03/15/2030 (C) | 215000 | 215424 |
| CrossCountry Intermediate HoldCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 10/01/2030 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10200 |
| &nbsp;&nbsp;&nbsp;6.750%, 12/01/2032 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10162 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 12-10-34, then 5 Year CMT + 2.516%), 12/10/2054 | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;39686 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 3-10-30, then 5 Year CMT + 2.886%), 03/10/2055 | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;48256 |
| Deluxe Corp.<br> 8.125%, 09/15/2029 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15802 |
| Dentsply Sirona, Inc.<br> 8.375%, (8.375% to 9-12-30, then 5 Year CMT + 4.379%), 09/12/2055 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;60848 |
| Directv Financing LLC<br> 10.000%, 02/15/2031 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10221 |
| DISH DBS Corp.<br> 5.750%, 12/01/2028 (C) | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1964 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.350%, (4.350% to 4-15-27, then 5 Year CMT + 3.195%), 01/15/2027 (E) | 120000 | 118999 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-1-30, then 5 Year CMT + 2.386%), 02/01/2055 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;36380 |
| EchoStar Corp.<br> 6.750%, (6.750% Cash and 0.000% PIK), 11/30/2030 | &nbsp;&nbsp;21742 | &nbsp;&nbsp;&nbsp;22274 |
| Endo Finance Holdings, Inc.<br> 8.500%, 04/15/2031 (C) | 120000 | 126833 |
| Energizer Holdings, Inc.<br> 6.000%, 09/15/2033 (C) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;62348 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 2-15-31, then 5 Year CMT + 2.676%), 02/15/2056 | 535000 | 533231 |
| &nbsp;&nbsp;&nbsp;8.000%, (8.000% to 5-15-29, then 5 Year CMT + 4.020%), 05/15/2054 | &nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;86464 |
| EQT Corp.<br> 4.750%, 01/15/2031 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10066 |
| EUSHI Finance, Inc.<br> 7.625%, (7.625% to 12-15-29, then 5 Year CMT + 3.136%), 12/15/2054 | &nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;74639 |
| EZCORP, Inc.<br> 7.375%, 04/01/2032 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;26524 |
| FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 09/01/2028 (C) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;6955 |
| &nbsp;&nbsp;&nbsp;5.625%, 01/01/2030 (C) | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;6022 |
| FMC Corp.<br> 8.450%, (8.450% to 11-1-30, then 5 Year CMT + 4.366%), 11/01/2055 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;71236 |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, 04/01/2033 (C) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;7249 |
| &nbsp;&nbsp;&nbsp;8.375%, 04/01/2032 (C) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5263 |
| &nbsp;&nbsp;&nbsp;9.125%, 05/15/2031 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21481 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| General Motors Financial Company, Inc.<br> 5.700%, (5.700% to 9-30-30, then 5 Year CMT + 4.997%), 09/30/2030 (E) | $&nbsp;&nbsp;80000 | $&nbsp;&nbsp;&nbsp;80327 |
| Global Atlantic Financial Company |  |  |
| &nbsp;&nbsp;&nbsp;7.250%, (7.250% to 3-1-31, then 5 Year CMT + 3.550%), 03/01/2056 (C) | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;95445 |
| &nbsp;&nbsp;&nbsp;7.950%, (7.950% to 7-15-29, then 5 Year CMT + 3.608%), 10/15/2054 (C) | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;24779 |
| Gray Media, Inc.<br> 7.250%, 08/15/2033 (C) | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;45982 |
| HA Sustainable Infrastructure Capital, Inc.<br> 8.000%, (8.000% to 6-1-31, then 5 Year CMT + 4.301%), 06/01/2056 | 194000 | 202742 |
| Health Care Service Corp.<br> 5.875%, 06/15/2054 (C) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;62553 |
| Hewlett Packard Enterprise Company<br> 6.350%, 10/15/2045 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;61511 |
| Hightower Holding LLC<br> 6.750%, 04/15/2029 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14939 |
| HP, Inc.<br> 6.000%, 09/15/2041 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;60552 |
| HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 12/01/2029 (C) | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;3000 |
| &nbsp;&nbsp;&nbsp;7.375%, 01/31/2032 (C) | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;11545 |
| IBM Corp.<br> 4.900%, 07/27/2052 | 100000 | &nbsp;&nbsp;&nbsp;88019 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 11/15/2049 | 100000 | &nbsp;&nbsp;&nbsp;63884 |
| &nbsp;&nbsp;&nbsp;4.900%, 08/05/2052 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;53844 |
| &nbsp;&nbsp;&nbsp;5.600%, 02/21/2054 | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;42467 |
| &nbsp;&nbsp;&nbsp;5.700%, 02/10/2053 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;60512 |
| Intercontinental Exchange, Inc.<br> 3.625%, 09/01/2028 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;26800 |
| Iron Mountain, Inc.<br> 6.250%, 01/15/2033 (C) | 125000 | 126046 |
| JetBlue Airways Corp.<br> 9.875%, 09/20/2031 (C) | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;77575 |
| JPMorgan Chase & Co.<br> 6.500%, (6.500% to 4-1-30, then 5 Year CMT + 2.152%), 04/01/2030 (E) | 125000 | 129889 |
| Kaiser Aluminum Corp.<br> 5.875%, 03/01/2034 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15047 |
| Kimberly-Clark Corp.<br> 3.200%, 07/30/2046 | 135000 | &nbsp;&nbsp;&nbsp;96311 |
| LBM Acquisition LLC<br> 6.250%, 01/15/2029 (C) | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;20700 |
| LCM Investments Holdings II LLC<br> 8.250%, 08/01/2031 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10577 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 06/30/2033 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15349 |
| &nbsp;&nbsp;&nbsp;8.500%, 01/15/2036 (C) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;76799 |
| LFS Topco LLC<br> 8.750%, 07/15/2030 (C) | &nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;81524 |
| Liberty Mutual Group, Inc.<br> 4.125%, (4.125% to 12-15-26, then 5 Year CMT + 3.315%), 12/15/2051 (C) | &nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;62121 |
| Lincoln National Corp.<br> 9.250%, (9.250% to 3-1-28, then 5 Year CMT + 5.318%), 12/01/2027 (E)(F) | 130000 | 139109 |
| LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/01/2051 | 285000 | 183661 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 61 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| LYB International Finance<br> III LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 10/15/2049 | $&nbsp;&nbsp;85000 | $&nbsp;&nbsp;&nbsp;60973 |
| &nbsp;&nbsp;&nbsp;5.875%, 01/15/2036 | 130000 | 129390 |
| Macy's Retail Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 01/15/2042 | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;7382 |
| &nbsp;&nbsp;&nbsp;6.125%, 03/15/2032 (C) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5061 |
| Matador Resources Company<br> 6.500%, 04/15/2032 (C) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;70992 |
| Medline Borrower LP<br> 5.250%, 10/01/2029 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25135 |
| Merck & Company, Inc.<br> 5.700%, 12/04/2065 | 140000 | 138499 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.650%, 08/15/2062 | 170000 | 137323 |
| &nbsp;&nbsp;&nbsp;5.400%, 08/15/2054 | 125000 | 116289 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/15/2055 | 170000 | 163161 |
| &nbsp;&nbsp;&nbsp;5.750%, 11/15/2065 | 320000 | 305121 |
| Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.675%, 06/01/2060 | 230000 | 132449 |
| &nbsp;&nbsp;&nbsp;3.041%, 03/17/2062 | 100000 | &nbsp;&nbsp;&nbsp;62293 |
| &nbsp;&nbsp;&nbsp;4.000%, 02/12/2055 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;59909 |
| Netflix, Inc.<br> 5.400%, 08/15/2054 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;62989 |
| Noble Finance II LLC<br> 8.000%, 04/15/2030 (C) | 210000 | 218172 |
| Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 01/30/2030 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;33810 |
| &nbsp;&nbsp;&nbsp;6.375%, 08/15/2033 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30413 |
| NVIDIA Corp.<br> 3.500%, 04/01/2050 | 170000 | 125808 |
| Olin Corp.<br> 6.625%, 04/01/2033 (C) | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;94285 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | &nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;27386 |
| &nbsp;&nbsp;&nbsp;5.950%, 09/26/2055 | 130000 | 115182 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/03/2055 | 105000 | &nbsp;&nbsp;&nbsp;92588 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 05/15/2054 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;49152 |
| &nbsp;&nbsp;&nbsp;5.800%, 01/15/2055 | 135000 | 125979 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2043 | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;26431 |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 3-30-27, then 5 Year CMT + 3.999% to 3-30-32, then 5 Year CMT + 4.249% to 3-30-47, then 5 Year CMT + 4.999%), 03/30/2062 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;60345 |
| PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 06/01/2052 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;63517 |
| &nbsp;&nbsp;&nbsp;5.250%, 06/01/2062 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;64244 |
| Penn Entertainment, Inc.<br> 4.125%, 07/01/2029 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;13892 |
| PennyMac Financial Services, Inc.<br> 6.875%, 05/15/2032 (C) | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;9422 |
| Permian Resources Operating LLC<br> 7.000%, 01/15/2032 (C) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5212 |
| Phillips 66 Company<br> 5.875%, (5.875% to 3-15-31, then 5 Year CMT + 2.283%), 03/15/2056 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;44519 |
| Planet Financial Group LLC<br> 10.500%, 12/15/2029 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;20949 |
| Quikrete Holdings, Inc.<br> 6.375%, 03/01/2032 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10409 |
| Rfna LP<br> 7.875%, 02/15/2030 (C) | 200000 | 203410 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Rocket Companies, Inc.<br> 6.375%, 08/01/2033 (C) | $&nbsp;&nbsp;10000 | $&nbsp;&nbsp;&nbsp;10426 |
| Rocket Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2029 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14700 |
| &nbsp;&nbsp;&nbsp;9.000%, 11/28/2028 (C) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;7218 |
| Rockies Express Pipeline LLC<br> 6.750%, 03/15/2033 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21106 |
| Salesforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 07/15/2041 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;61656 |
| &nbsp;&nbsp;&nbsp;2.900%, 07/15/2051 | 195000 | 123401 |
| &nbsp;&nbsp;&nbsp;3.050%, 07/15/2061 | 105000 | &nbsp;&nbsp;&nbsp;63378 |
| Scripps Escrow II, Inc.<br> 3.875%, 01/15/2029 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;13802 |
| Sempra<br> 6.375%, (6.375% to 4-1-31, then 5 Year CMT + 2.632%), 04/01/2056 | &nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;62270 |
| Sierra Pacific Power Company<br> 6.200%, (6.200% to 12-15-30, then 5 Year CMT + 2.549%), 12/15/2055 | 125000 | 123881 |
| SM Energy Company<br> 6.750%, 08/01/2029 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15110 |
| Staples, Inc.<br> 10.750%, 09/01/2029 (C) | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;22866 |
| Star Parent, Inc.<br> 9.000%, 10/01/2030 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;16008 |
| Stonebriar ABF Issuer LLC<br> 8.125%, 12/15/2030 (C) | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;21613 |
| Sunoco LP<br> 7.000%, 05/01/2029 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10430 |
| Talos Production, Inc.<br> 9.375%, 02/01/2031 (C) | 140000 | 146021 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 11/15/2033 (C) | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;22651 |
| &nbsp;&nbsp;&nbsp;6.750%, 05/15/2031 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15608 |
| The Coca-Cola Company<br> 2.750%, 06/01/2060 | 210000 | 123040 |
| The Dow Chemical Company |  |  |
| &nbsp;&nbsp;&nbsp;5.950%, 03/15/2055 (F) | 140000 | 127369 |
| &nbsp;&nbsp;&nbsp;6.900%, 05/15/2053 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;61531 |
| The EW Scripps Company<br> 9.875%, 08/15/2030 (C) | 105000 | 104862 |
| The Goldman Sachs Group, Inc.<br> 3.650%, (3.650% to 8-10-26, then 5 Year CMT + 2.915%), 08/10/2026 (E) | &nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;58152 |
| The Hertz Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2029 (C) | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;2039 |
| &nbsp;&nbsp;&nbsp;12.625%, 07/15/2029 (C) | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;3026 |
| Tronox, Inc.<br> 4.625%, 03/15/2029 (C)(F) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;52504 |
| USA Compression Partners LP<br> 6.250%, 10/01/2033 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15180 |
| Velocity Vehicle Group LLC<br> 8.000%, 06/01/2029 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;57003 |
| Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 11/01/2033 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;30009 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2031 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;31849 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 12/15/2030 (C) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5092 |
| &nbsp;&nbsp;&nbsp;6.500%, 01/15/2034 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;61454 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/15/2034 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10218 |
| &nbsp;&nbsp;&nbsp;6.750%, 01/15/2036 (C) | 120000 | 122915 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.550%, 03/22/2051 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;63885 |
| &nbsp;&nbsp;&nbsp;5.875%, 11/30/2055 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;34580 |
| &nbsp;&nbsp;&nbsp;6.000%, 11/30/2065 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;49348 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 62 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Versant Media Group, Inc.<br> 7.250%, 01/30/2031 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;5000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5158 |
| VoltaGrid LLC<br> 7.375%, 11/01/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6935 |
| WarnerMedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.279%, 03/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4389 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6334 |
| Wells Fargo & Company<br> 3.900%, (3.900% to 3-15-26, then 5 Year CMT + 3.453%), 03/15/2026 (E) | &nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38879 |
| Westlake Corp.<br> 6.375%, 11/15/2055 | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;177088 |
| Whirlpool Corp.<br> 6.500%, 06/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63031 |
| Windsor Holdings III LLC<br> 8.500%, 06/15/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15845 |
| WULF Compute LLC<br> 7.750%, 10/15/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37089 |
| ZF North America Capital, Inc.<br> 7.500%, 03/24/2031 (C) | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;151614 |
| Zions Bancorp NA<br> 6.816%, (6.816% to 11-19-34, then Overnight SOFR + 2.830%), 11/19/2035 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;361082 |
|  |  | 15616049 |
| TOTAL CORPORATE BONDS (Cost $23,604,154) | TOTAL CORPORATE BONDS (Cost $23,604,154) | $23135020 |
| **CONVERTIBLE BONDS - 11.0%** | **CONVERTIBLE BONDS - 11.0%** |  |
| **Australia - 0.0%** |  |  |
| IREN, Ltd.<br> 5.534%, 07/01/2031 (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5924 |
| **Canada - 0.1%** |  |  |
| Advantage Energy, Ltd.<br> 5.000%, 06/30/2029 (C) | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72319 |
| IMAX Corp.<br> 0.750%, 11/15/2030 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7655 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79974 |
| **Cayman Islands - 0.0%** |  |  |
| Seagate HDD Cayman<br> 3.500%, 06/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43661 |
| **China - 0.4%** |  |  |
| Alibaba Group Holding, Ltd.<br> 0.500%, 06/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74544 |
| Baidu, Inc., Zero Coupon<br> 0.000%, 03/12/2032 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;203191 |
| H World Group, Ltd.<br> 3.000%, 05/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25460 |
| JD.com, Inc.<br> 0.250%, 06/01/2029 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;189905 |
| Li Auto, Inc.<br> 0.250%, 05/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6048 |
| Smart Insight International, Ltd.<br> 4.500%, 12/05/2023 (D) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23257 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;522405 |
| **Denmark - 0.0%** |  |  |
| Ascendis Pharma A/S<br> 2.250%, 04/01/2028 | $&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9917 |
| **France - 0.2%** |  |  |
| Accor SA<br> 0.700%, 12/07/2027 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33982 |
| Ubisoft Entertainment SA<br> 2.875%, 12/05/2031 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;274728 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;308710 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **Hong Kong - 0.2%** |  |  |
| Anllian Capital 2, Ltd.<br> 0.063%, 12/05/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | $234452 |
| **India - 0.2%** |  |  |
| MakeMyTrip, Ltd.<br> 0.466%, 07/01/2030 (B)(C) | $&nbsp;&nbsp;&nbsp;&nbsp;334000 | 326986 |
| **Israel - 0.1%** |  |  |
| Wix.com, Ltd.<br> 2.628%, 09/15/2030 (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;125000 | 110438 |
| **Italy - 0.4%** |  |  |
| Eni SpA<br> 2.950%, 09/14/2030 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | 625428 |
| **Japan - 0.2%** |  |  |
| ANA Holdings, Inc., Zero Coupon<br> 0.000%, 12/10/2031 | 10000000 | &nbsp;&nbsp;&nbsp;71502 |
| Nxera Pharma Company, Ltd.<br> 0.250%, 12/14/2028 | 30000000 | 149387 |
|  |  | 220889 |
| **Luxembourg - 0.0%** |  |  |
| Arrival SA<br> 3.500%, 12/01/2026 (C)(D) | $&nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 |
| Mitsubishi UFJ Investor Services & Banking Luxembourg SA<br> 6.547%, (3 month EURIBOR + 4.500%), 12/15/2050 (G) | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;75542 |
|  |  | &nbsp;&nbsp;&nbsp;75594 |
| **Singapore - 0.0%** |  |  |
| Trip.com Group, Ltd.<br> 0.750%, 06/15/2029 | $&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;24590 |
| **Spain - 0.3%** |  |  |
| Cellnex Telecom SA<br> 0.750%, 11/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | 423222 |
| **Switzerland - 0.3%** |  |  |
| STMicroelectronics NV<br> 1.796%, 08/04/2027 (B) | $&nbsp;&nbsp;&nbsp;&nbsp;400000 | 388673 |
| **United Kingdom - 0.2%** |  |  |
| Immunocore Holdings PLC<br> 2.500%, 02/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;305000 | 275644 |
| **United States - 8.4%** |  |  |
| 3D Systems Corp.<br> 12.269%, 11/15/2026 (B) | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;11733 |
| Advanced Energy Industries, Inc.<br> 2.500%, 09/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;8198 |
| AeroVironment, Inc., Zero Coupon<br> 0.000%, 07/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;9765 |
| Affirm Holdings, Inc.<br> 0.750%, 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;11065 |
| Akamai Technologies, Inc.<br> 1.125%, 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14820 |
| Alarm.com Holdings, Inc.<br> 6.192%, 01/15/2026 (B) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19950 |
| Alliant Energy Corp.<br> 3.250%, 05/30/2028 (C) | &nbsp;&nbsp;&nbsp;&nbsp;835000 | 852034 |
| Alnylam Pharmaceuticals, Inc.<br> 1.352%, 09/15/2028 (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;28913 |
| American Water Capital Corp.<br> 3.625%, 06/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;965000 | 960947 |
| Apellis Pharmaceuticals, Inc.<br> 3.500%, 09/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;61613 |
| AST SpaceMobile, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 01/15/2036 (C) | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;11956 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/01/2032 (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;5886 |
| Bandwidth, Inc.<br> 0.250%, 03/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;26528 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 63 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Beyond Meat, Inc.<br> 9.500%, (0.000% Cash and 9.500% PIK), 10/15/2030 | $&nbsp;&nbsp;22891 | $&nbsp;&nbsp;&nbsp;17581 |
| BILL Holdings, Inc.<br> 1.994%, 04/01/2030 (B) | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;73472 |
| BioMarin Pharmaceutical, Inc.<br> 1.250%, 05/15/2027 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;67053 |
| Block, Inc.<br> 0.250%, 11/01/2027 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;69338 |
| Bloom Energy Corp.<br> 3.000%, 06/01/2029 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;21307 |
| Boston Properties LP<br> 2.000%, 10/01/2030 (C) | &nbsp;&nbsp;57000 | &nbsp;&nbsp;&nbsp;55034 |
| Bridgebio Pharma, Inc.<br> 1.750%, 03/01/2031 (C) | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;20835 |
| BWX Technologies, Inc.<br> 0.986%, 11/01/2030 (B)(C) | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;24778 |
| Cable One, Inc.<br> 1.125%, 03/15/2028 | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;8952 |
| CenterPoint Energy, Inc.<br> 3.000%, 08/01/2028 (C) | 725000 | 733845 |
| Cloudflare, Inc., Zero Coupon |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, 08/15/2026 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;23478 |
| &nbsp;&nbsp;&nbsp;0.000%, 06/15/2030 (C) | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;23914 |
| Coinbase Global, Inc.<br> 0.250%, 04/01/2030 | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;17391 |
| CommVault Systems, Inc.<br> 2.604%, 09/15/2030 (B)(C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;17690 |
| Core Scientific, Inc., Zero Coupon<br> 0.000%, 06/15/2031 (C) | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;9456 |
| Cracker Barrel Old Country Store, Inc.<br> 1.750%, 09/15/2030 (C) | 240000 | 180384 |
| Cytokinetics, Inc.<br> 1.750%, 10/01/2031 (C) | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;9957 |
| Datadog, Inc.<br> 0.063%, 12/01/2029 (B) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;34913 |
| DexCom, Inc.<br> 0.375%, 05/15/2028 | 300000 | 275850 |
| Digital Realty Trust LP<br> 1.875%, 11/15/2029 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30420 |
| DoorDash, Inc., Zero Coupon<br> 0.000%, 05/15/2030 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;26113 |
| DraftKings Holdings, Inc.<br> 4.129%, 03/15/2028 (B) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;18270 |
| Dropbox, Inc., Zero Coupon<br> 0.000%, 03/01/2028 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;22176 |
| EchoStar Corp.<br> 3.875%, (3.875% Cash and 0.000% PIK), 11/30/2030 | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;10020 |
| Energy Fuels, Inc.<br> 0.750%, 11/01/2031 (C) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;7231 |
| Enphase Energy, Inc.<br> 6.543%, 03/01/2028 (B) | 290000 | 252300 |
| Etsy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 09/01/2027 (F) | 285000 | 263198 |
| &nbsp;&nbsp;&nbsp;1.000%, 06/15/2030 (C) | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;26338 |
| Euronet Worldwide, Inc.<br> 0.625%, 10/01/2030 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;31916 |
| Evergy, Inc.<br> 4.500%, 12/15/2027 | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;8519 |
| Evolent Health, Inc.<br> 3.500%, 12/01/2029 | 320000 | 214400 |
| FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2029 (C) | 430000 | 456015 |
| &nbsp;&nbsp;&nbsp;3.875%, 01/15/2031 (C) | 410000 | 441160 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Five9, Inc.<br> 1.000%, 03/15/2029 | $220000 | $197450 |
| Fluor Corp.<br> 1.125%, 08/15/2029 | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;42150 |
| GameStop Corp.<br> 0.262%, 04/01/2030 (B)(C) | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;17798 |
| Global Payments, Inc.<br> 1.500%, 03/01/2031 | 395000 | 354315 |
| Granite Construction, Inc.<br> 3.250%, 06/15/2030 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;23925 |
| Guidewire Software, Inc.<br> 1.250%, 11/01/2029 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;32985 |
| Haemonetics Corp.<br> 2.500%, 06/01/2029 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15536 |
| HAT Holdings I LLC<br> 3.750%, 08/15/2028 (C) | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;21610 |
| Integer Holdings Corp.<br> 1.875%, 03/15/2030 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;27690 |
| Ionis Pharmaceuticals, Inc.<br> 1.750%, 06/15/2028 | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;60355 |
| Ionis Pharmaceuticals, Inc., Zero Coupon<br> 0.000%, 12/01/2030 (C) | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;8520 |
| Itron, Inc.<br> 1.375%, 07/15/2030 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15159 |
| JBT Marel Corp.<br> 0.375%, 09/15/2030 (C) | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;23817 |
| Lantheus Holdings, Inc.<br> 2.625%, 12/15/2027 | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;13734 |
| Live Nation Entertainment, Inc.<br> 2.875%, 01/15/2030 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;31515 |
| Lumentum Holdings, Inc.<br> 1.500%, 12/15/2029 | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;63744 |
| MARA Holdings, Inc.<br> 5.953%, 08/01/2032 (B)(C) | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;8155 |
| Merit Medical Systems, Inc.<br> 3.000%, 02/01/2029 (C) | &nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;22933 |
| Meritage Homes Corp.<br> 1.750%, 05/15/2028 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;44257 |
| Microchip Technology, Inc.<br> 0.750%, 06/01/2030 | 102000 | &nbsp;&nbsp;&nbsp;99970 |
| MKS, Inc.<br> 1.250%, 06/01/2030 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;19133 |
| NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;0.750%, 09/15/2030 (C) | 119000 | 114764 |
| &nbsp;&nbsp;&nbsp;0.875%, 04/15/2030 (C) | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;52317 |
| NextEra Energy Capital Holdings, Inc.<br> 3.000%, 03/01/2027 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;24820 |
| Northern Oil & Gas, Inc.<br> 3.625%, 04/15/2029 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19270 |
| Nutanix, Inc.<br> 0.500%, 12/15/2029 | 140000 | 135030 |
| Okta, Inc.<br> 0.375%, 06/15/2026 (F) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;63440 |
| ON Semiconductor Corp.<br> 0.500%, 03/01/2029 | 115000 | 108790 |
| OSI Systems, Inc.<br> 0.500%, 02/01/2031 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14748 |
| Parsons Corp.<br> 2.625%, 03/01/2029 | &nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;34952 |
| PG&E Corp.<br> 4.250%, 12/01/2027 | 545000 | 560042 |
| PPL Capital Funding, Inc.<br> 3.000%, 12/01/2030 (C) | 760000 | 761162 |
| Redfin Corp.<br> 0.500%, 04/01/2027 | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;15912 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 64 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Repay Holdings Corp.<br> 2.875%, 07/15/2029 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;70000 | $&nbsp;&nbsp;&nbsp;&nbsp;59283 |
| Repligen Corp.<br> 1.000%, 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10925 |
| Rexford Industrial Realty LP<br> 4.125%, 03/15/2029 (C) | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;488383 |
| RingCentral, Inc.<br> 6.049%, 03/15/2026 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;69160 |
| Rivian Automotive, Inc.<br> 3.625%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;39200 |
| Semtech Corp.<br> 1.625%, 11/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;36612 |
| Semtech Corp., Zero Coupon<br> 0.000%, 10/15/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8476 |
| Shake Shack, Inc.<br> 2.732%, 03/01/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;65975 |
| Shift4 Payments, Inc.<br> 0.500%, 08/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;14415 |
| Snap, Inc.<br> 0.125%, 03/01/2028 | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;425961 |
| Snowflake, Inc., Zero Coupon<br> 0.000%, 10/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;20072 |
| Solaris Energy Infrastructure, Inc.<br> 0.250%, 10/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;19463 |
| Spotify USA, Inc., Zero Coupon<br> 0.000%, 03/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;22700 |
| Stem, Inc.<br> 0.500%, 12/01/2028 (C) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 |
| Strategy, Inc.<br> 3.562%, 03/01/2030 (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;19838 |
| Super Micro Computer, Inc.<br> 3.851%, 06/15/2030 (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;18546 |
| Teladoc Health, Inc.<br> 1.250%, 06/01/2027 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;218500 |
| Terawulf, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.283%, 05/01/2032 (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;12975 |
| &nbsp;&nbsp;&nbsp;2.750%, 02/01/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6529 |
| Tetra Tech, Inc.<br> 2.250%, 08/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;65022 |
| The Cheesecake Factory, Inc.<br> 2.000%, 03/15/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;63668 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 06/15/2028 (C) | 1050000 | 1047900 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;32010 |
| Tyler Technologies, Inc.<br> 0.250%, 03/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15165 |
| Uber Technologies, Inc.<br> 0.875%, 12/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;25940 |
| Unity Software, Inc., Zero Coupon<br> 0.000%, 03/15/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;50575 |
| Upstart Holdings, Inc.<br> 1.000%, 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8713 |
| Ventas Realty LP<br> 3.750%, 06/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;21180 |
| Vishay Intertechnology, Inc.<br> 2.250%, 09/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;62825 |
| Wayfair, Inc.<br> 3.250%, 09/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6655 |
| WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 06/01/2028 (C) | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;141820 |
| &nbsp;&nbsp;&nbsp;4.375%, 06/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;44327 |
| Welltower OP LLC<br> 2.750%, 05/15/2028 (C) | &nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;41129 |
| Western Digital Corp.<br> 3.000%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;45838 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| WisdomTree, Inc.<br> 4.625%, 08/15/2030 (C) | 180000 | $&nbsp;&nbsp;&nbsp;&nbsp;184230 |
| Zoetis, Inc.<br> 0.250%, 06/15/2029 (C) | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47265 |
| Zscaler, Inc.<br> 2.622%, 07/15/2028 (B)(C) | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21517 |
|  |  | 12057302 |
| TOTAL CONVERTIBLE BONDS (Cost $16,354,913) | TOTAL CONVERTIBLE BONDS (Cost $16,354,913) | $15733809 |
| **TERM LOANS (H) - 3.2%** | **TERM LOANS (H) - 3.2%** |  |
| **United States - 3.2%** |  |  |
| ABG Intermediate Holdings 2 LLC, 2024 1st Lien Term Loan B (1 month CME Term SOFR + 2.250%) 5.966%, 12/21/2028 | &nbsp;&nbsp;57604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57640 |
| Acrisure LLC, 2024 1st Lien Term Loan B6 (1 month CME Term SOFR + 3.000%) 6.716%, 11/06/2030 | &nbsp;&nbsp;98752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98568 |
| Asurion LLC, 2021 2nd Lien Term Loan B3 (1 month CME Term SOFR + 5.250%) 9.081%, 01/31/2028 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;144298 |
| Asurion LLC, 2025 Term Loan B13 (1 month CME Term SOFR + 4.250%) 7.966%, 09/19/2030 | 107588 | &nbsp;&nbsp;&nbsp;&nbsp;107504 |
| AthenaHealth Group, Inc., 2022 Term Loan B (1 month CME Term SOFR + 2.750%) 6.466%, 02/15/2029 | &nbsp;&nbsp;27271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27300 |
| Berlin Packaging LLC, 2025 Term Loan B7 (1 and 3 month CME Term SOFR + 3.250%) 7.114%, 06/07/2031 | 164098 | &nbsp;&nbsp;&nbsp;&nbsp;164416 |
| Blackfin Pipeline LLC, Term Loan B (1 month CME Term SOFR + 3.000%) 6.738%, 09/29/2032 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100083 |
| Caesars Entertainment, Inc., Term Loan B (1 month CME Term SOFR + 2.250%) 5.966%, 02/06/2030 | &nbsp;&nbsp;85313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84545 |
| Chobani LLC, 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 5.966%, 10/28/2032 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;200800 |
| Cinemark USA, Inc., 2025 Term Loan B (1 and 3 month CME Term SOFR + 2.250%) 5.953%, 05/24/2030 | 121597 | &nbsp;&nbsp;&nbsp;&nbsp;121605 |
| Corpay Technologies Operating Company LLC, 2025 Term Loan B (1 month CME Term SOFR + 1.750%) 5.566%, 11/05/2032 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;125026 |
| CRC Insurance Group LLC, 2024 Term Loan B (3 month CME Term SOFR + 2.750%) 6.422%, 05/06/2031 | &nbsp;&nbsp;45968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45987 |
| Dawn Bidco LLC, 2025 Term Loan 08/20/2032 TBD (I) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;149465 |
| Flynn Restaurant Group LP, 2025 Incremental Term Loan (1 month CME Term SOFR + 3.750%) 7.466%, 01/28/2032 | &nbsp;&nbsp;99250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99576 |
| Fortress Intermediate 3, Inc., 2025 Term Loan B (1 month CME Term SOFR + 3.000%) 6.784%, 06/27/2031 | 145391 | &nbsp;&nbsp;&nbsp;&nbsp;145256 |
| Hobbs & Associates LLC, Term Loan B (1 month CME Term SOFR + 2.750%) 6.466%, 07/23/2031 | &nbsp;&nbsp;99477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99384 |
| HUB International, Ltd., 2025 Term Loan B (3 month CME Term SOFR + 2.250%) 6.120%, 06/20/2030 | &nbsp;&nbsp;87585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88000 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 65 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (H) (continued)** | **TERM LOANS (H) (continued)** |  |
| **United States (continued)** |  |  |
| IRB Holding Corp., 2025 Term Loan B (1 month CME Term SOFR + 2.500%) 6.216%, 12/16/2030 | $&nbsp;&nbsp;95808 | $&nbsp;&nbsp;&nbsp;95992 |
| LBM Acquisition LLC, 2024 Incremental Term Loan B (1 month CME Term SOFR + 3.750%) 7.584%, 06/06/2031 | &nbsp;&nbsp;98532 | &nbsp;&nbsp;&nbsp;92260 |
| Lsf12 Crown US Commercial Bidco LLC, 2025 Term Loan B (1 month CME Term SOFR + 3.500%) 7.373%, 12/02/2031 | &nbsp;&nbsp;97153 | &nbsp;&nbsp;&nbsp;97668 |
| McAfee Corp., 2024 USD 1st Lien Term Loan B (1 month CME Term SOFR + 3.000%) 6.716%, 03/01/2029 | &nbsp;&nbsp;99748 | &nbsp;&nbsp;&nbsp;91737 |
| Medline Borrower LP, 2025 Term Loan B (1 month CME Term SOFR + 1.750%) 5.466%, 10/23/2028 | &nbsp;&nbsp;16858 | &nbsp;&nbsp;&nbsp;16903 |
| MH Sub I LLC, 2023 Term Loan (1 month CME Term SOFR + 4.250%) 7.922%, 05/03/2028 | &nbsp;&nbsp;57323 | &nbsp;&nbsp;&nbsp;53167 |
| MH Sub I LLC, 2024 Term Loan B4 (1 month CME Term SOFR + 4.250%) 7.966%, 12/31/2031 | &nbsp;&nbsp;38800 | &nbsp;&nbsp;&nbsp;33095 |
| Oryx Midstream Services Permian Basin LLC, 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 5.977%, 10/05/2028 | &nbsp;&nbsp;95113 | &nbsp;&nbsp;&nbsp;95479 |
| Owens-Illinois Group, Inc., 2025 Term Loan B (3 month CME Term SOFR + 3.000%) 6.838%, 09/30/2032 | 215000 | 216546 |
| Peer USA LLC, 2025 USD Term Loan B (3 month CME Term SOFR + 2.250%) 5.922%, 09/29/2032 | 225000 | 225187 |
| Quikrete Holdings, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 5.966%, 02/10/2032 | &nbsp;&nbsp;99250 | &nbsp;&nbsp;&nbsp;99534 |
| QXO Building Products, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.000%) 5.716%, 04/30/2032 | 200000 | 200478 |
| Sedgwick Claims Management Services, Inc., 2023 Term Loan B (1 month CME Term SOFR + 2.500%) 6.216%, 07/31/2031 | 190134 | 190689 |
| Sunrise Financing Partnership, Term Loan AAA1 (3 month CME Term SOFR + 2.500%) 6.426%, 02/16/2032 | 140000 | 140426 |
| SupplyOne, Inc., 2024 Term Loan B (1 month CME Term SOFR + 3.500%) 7.216%, 04/21/2031 | 139648 | 139842 |
| The Michaels Companies, Inc., 2021 Term Loan B (3 month CME Term SOFR + 4.250%) 8.184%, 04/17/2028 | 124150 | 119805 |
| TransDigm, Inc., 2023 Term Loan J (1 month CME Term SOFR + 2.500%) 6.216%, 02/28/2031 | 162608 | 163161 |
| UKG, Inc., 2024 Term Loan B (3 month CME Term SOFR + 2.500%) 6.338%, 02/10/2031 | &nbsp;&nbsp;98753 | &nbsp;&nbsp;&nbsp;98792 |
| USI, Inc., 2024 Term Loan D (3 month CME Term SOFR + 2.250%) 5.922%, 11/21/2029 | 195312 | 195695 |
| Varsity Brands, Inc., 2025 1st Lien Term Loan (3 month CME Term SOFR + 3.000%) 6.672%, 08/26/2031 | &nbsp;&nbsp;99749 | 100062 |
| Versant Media Group, Inc., Term Loan B 01/30/2031 TBD (I) | 100000 | &nbsp;&nbsp;&nbsp;99938 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (H) (continued)** | **TERM LOANS (H) (continued)** |  |
| **United States (continued)** |  |  |
| Windsor Holdings III LLC, 2025 USD Term Loan B (1 month CME Term SOFR + 2.750%) 6.466%, 08/01/2030 | 112433 | $&nbsp;&nbsp;&nbsp;&nbsp;112594 |
|  |  | 4538503 |
| TOTAL TERM LOANS (Cost $4,531,784) | TOTAL TERM LOANS (Cost $4,531,784) | $4538503 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 6.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 6.1%** |  |
| **Commercial and residential - 2.9%** |  |  |
| Angel Oak Mortgage Trust, Series 2020-3, Class M1,<br> 3.809%, 04/25/2065 (C)(J) | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;171815 |
| BAHA Trust, Series 2024-MAR, Class C,<br> 7.516%, 12/10/2041 (C)(J) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;104751 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-BN15, Class B,<br> 4.652%, 11/15/2061 (J) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;47662 |
| &nbsp;&nbsp;&nbsp;Series 2021-BN37, Class XA IO,<br> 0.585%, 11/15/2064 | 981878 | &nbsp;&nbsp;&nbsp;&nbsp;21166 |
| &nbsp;&nbsp;&nbsp;Series 2022-BNK42, Class AS,<br> 4.723%, 06/15/2055 (J) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;58260 |
| BANK5, Series 2023-5YR4, Class C,<br> 7.605%, 12/15/2056 (J) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;63448 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-5C23, Class C,<br> 7.455%, 12/15/2056 (J) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;77905 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C25, Class C,<br> 6.643%, 03/15/2057 (J) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20558 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C27, Class C,<br> 6.700%, 07/15/2057 (J) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20622 |
| &nbsp;&nbsp;&nbsp;Series 2024-C26, Class C,<br> 6.000%, 05/15/2057 (J) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;89903 |
| &nbsp;&nbsp;&nbsp;Series 2025-C32, Class C,<br> 6.125%, 02/15/2062 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55605 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B1, Class AM,<br> 3.878%, 01/15/2051 (J) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;82835 |
| &nbsp;&nbsp;&nbsp;Series 2018-B5, Class C,<br> 4.595%, 07/15/2051 (J) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;79446 |
| &nbsp;&nbsp;&nbsp;Series 2020-B16, Class AM,<br> 2.944%, 02/15/2053 (J) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;54863 |
| &nbsp;&nbsp;&nbsp;Series 2024-V6, Class C,<br> 6.669%, 03/15/2057 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20544 |
| BFLD Commercial Mortgage Trust, Series 2024-UNIV, Class B (1 month CME Term SOFR + 1.842%),<br> 5.592%, 11/15/2041 (C)(G) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55085 |
| BOCA Commercial Mortgage Trust, Series 2025-BOCA, Class B (1 month CME Term SOFR + 1.900%),<br> 5.750%, 12/15/2042 (C)(G) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100125 |
| BPR Trust, Series 2024-PMDW, Class C,<br> 5.850%, 11/05/2041 (C)(J) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10189 |
| BRAVO Residential Funding Trust, Series 2020-NQM1, Class M1,<br> 3.181%, 05/25/2060 (C)(J) | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;174801 |
| BX Commercial Mortgage Trust, Series 2025-BCAT, Class A (1 month CME Term SOFR + 1.380%),<br> 5.130%, 08/15/2042 (C)(G) | &nbsp;&nbsp;95828 | &nbsp;&nbsp;&nbsp;&nbsp;95948 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-BRVE, Class B (1 month CME Term SOFR + 2.540%),<br> 6.290%, 04/15/2041 (C)(G) | &nbsp;&nbsp;95640 | &nbsp;&nbsp;&nbsp;&nbsp;95640 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 66 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BX Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-ARIA, Class B,<br> 5.177%, 12/13/2042 (C)(J) | $&nbsp;&nbsp;30000 | $&nbsp;&nbsp;&nbsp;30193 |
| &nbsp;&nbsp;&nbsp;Series 2025-ARIA, Class C,<br> 5.517%, 12/13/2042 (C)(J) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;65442 |
| &nbsp;&nbsp;&nbsp;Series 2025-DELC, Class C (1 month CME Term SOFR + 2.200%),<br> 6.157%, 12/15/2042 (C)(G) | 100000 | 100249 |
| CFCRE Commercial Mortgage Trust, Series 2016-C6, Class B,<br> 3.804%, 11/10/2049 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;56989 |
| COLT Mortgage Loan Trust, Series 2024-7, Class A3 (5.994% to 11-1-28, then 6.994% thereafter),<br> 5.994%, 12/26/2069 (C) | &nbsp;&nbsp;82965 | &nbsp;&nbsp;&nbsp;83583 |
| Commercial Mortgage Trust (Cantor<br> Fitzgerald/Deutsche Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-CR15, Class B,<br> 3.913%, 02/10/2047 (J) | &nbsp;&nbsp;15669 | &nbsp;&nbsp;&nbsp;15410 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR15, Class C,<br> 3.963%, 02/10/2047 (J) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;33763 |
| &nbsp;&nbsp;&nbsp;Series 2014-LC15, Class D,<br> 4.762%, 04/10/2047 (C)(J) | &nbsp;&nbsp;75913 | &nbsp;&nbsp;&nbsp;74472 |
| CRB Commercial Mortgage Trust, Series 2025-CRE1, Class A,<br> 3.855%, 09/15/2058 (C)(J) | &nbsp;&nbsp;74864 | &nbsp;&nbsp;&nbsp;74701 |
| CSMC Trust, Series 2021-NQM6, Class A2,<br> 1.379%, 07/25/2066 (C)(J) | &nbsp;&nbsp;50901 | &nbsp;&nbsp;&nbsp;43979 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.797%, 02/25/2066 (C)(J) | &nbsp;&nbsp;81883 | &nbsp;&nbsp;&nbsp;71796 |
| &nbsp;&nbsp;&nbsp;Series 2025-INV3, Class A1 (5.444% to 7-1-29, then 6.444% thereafter),<br> 5.444%, 07/25/2070 (C) | &nbsp;&nbsp;96937 | &nbsp;&nbsp;&nbsp;97783 |
| GCAT Trust, Series 2022-NQM2, Class A1,<br> 4.210%, 02/25/2067 (C)(J) | &nbsp;&nbsp;65586 | &nbsp;&nbsp;&nbsp;65372 |
| GS Mortgage Securities Trust, Series 2024-70P, Class A,<br> 5.310%, 03/10/2041 (C)(J) | 100000 | 101093 |
| JP Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class B,<br> 3.460%, 08/15/2049 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;88967 |
| JPMBB Commercial Mortgage Securities Trust, Series 2014-C22, Class B,<br> 4.513%, 09/15/2047 (J) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;38899 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class B,<br> 5.007%, 11/05/2038 (C)(J) | 100000 | 100208 |
| Pretium Mortgage Credit Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL12, Class A2 (6.900% to 10-25-29, then 10.900% thereafter),<br> 6.900%, 11/25/2055 (C) | 100000 | 100043 |
| &nbsp;&nbsp;&nbsp;Series 2025-NPL14, Class A1 (5.265% to 12-25-28, then 8.265% to 12-25-29, then 9.625% thereafter),<br> 5.265%, 12/25/2055 (C)(K) | 125000 | 125000 |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL1, Class A1 (4.000% to 1-1-29, then 5.000% thereafter),<br> 4.000%, 07/25/2069 (C) | &nbsp;&nbsp;91560 | &nbsp;&nbsp;&nbsp;89705 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR9, Class F,<br> 4.053%, 11/17/2040 (C) | $100000 | $&nbsp;&nbsp;&nbsp;&nbsp;96804 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class E1,<br> 3.930%, 02/17/2041 (C) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;144864 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR4, Class C,<br> 4.888%, 05/17/2041 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;99497 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR7, Class D,<br> 5.500%, 10/27/2039 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100051 |
| &nbsp;&nbsp;&nbsp;Series 2024-SFR3, Class E1,<br> 4.000%, 06/17/2041 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;95474 |
| PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A1 (6.469% to 5-1-28, then 9.469% to 5-1-29, then 10.469% thereafter),<br> 6.469%, 05/25/2030 (C) | &nbsp;&nbsp;90203 | &nbsp;&nbsp;&nbsp;&nbsp;90371 |
| &nbsp;&nbsp;&nbsp;Series 2025-6, Class A1 (5.774% to 8-1-28, then 8.774% to 8-1-29, then 9.774% thereafter),<br> 5.774%, 08/25/2028 (C) | &nbsp;&nbsp;92420 | &nbsp;&nbsp;&nbsp;&nbsp;92569 |
| ROCK Trust, Series 2024-CNTR, Class C,<br> 6.471%, 11/13/2041 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;103978 |
| TRTX Issuer, Ltd., Series 2025-FL6, Class B (1 month CME Term SOFR + 2.046%),<br> 5.781%, 09/18/2042 (C)(G) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;99990 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (C)(J) | &nbsp;&nbsp;50360 | &nbsp;&nbsp;&nbsp;&nbsp;43939 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A3 (5.976% to 1-1-29, then 6.976% thereafter),<br> 5.976%, 01/25/2070 (C) | &nbsp;&nbsp;83284 | &nbsp;&nbsp;&nbsp;&nbsp;83975 |
| WBHT Commercial Mortgage Trust, Series 2025-WBM, Class A (1 month CME Term SOFR + 1.742%),<br> 5.492%, 06/15/2042 (C)(G) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100310 |
| WSTN Trust, Series 2023-MAUI, Class B,<br> 7.018%, 07/05/2037 (C)(J) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;30483 |
|  |  | 4141123 |
| **U.S. Government Agency - 3.2%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-DNA6, Class B1 (30 day Average SOFR + 3.000%),<br> 6.874%, 12/25/2050 (C)(G) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;37369 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA6, Class M2 (30 day Average SOFR + 1.500%),<br> 5.374%, 10/25/2041 (C)(G) | 150397 | &nbsp;&nbsp;&nbsp;&nbsp;150825 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA7, Class B2 (30 day Average SOFR + 7.800%),<br> 11.674%, 11/25/2041 (C)(G) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15764 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA3, Class M2 (30 day Average SOFR + 2.100%),<br> 5.974%, 09/25/2041 (C)(G) | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;191517 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class B1 (30 day Average SOFR + 3.400%),<br> 7.274%, 01/25/2042 (C)(G) | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;179051 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class B2 (30 day Average SOFR + 7.100%),<br> 10.974%, 01/25/2042 (C)(G) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15791 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 67 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA5, Class M2 (30 day Average SOFR + 6.750%),<br> 10.624%, 06/25/2042 (C)(G) | $&nbsp;&nbsp;75000 | $&nbsp;&nbsp;&nbsp;81001 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M2 (30 day Average SOFR + 5.250%),<br> 9.124%, 03/25/2042 (C)(G) | 470000 | 493001 |
| &nbsp;&nbsp;&nbsp;Series 2023-DNA1, Class M2 (30 day Average SOFR + 5.500%),<br> 9.365%, 03/25/2043 (C)(G) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;37813 |
| &nbsp;&nbsp;&nbsp;Series 2023-DNA2, Class B1 (30 day Average SOFR + 7.600%),<br> 11.465%, 04/25/2043 (C)(G) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;22529 |
| &nbsp;&nbsp;&nbsp;Series 2024-DNA1, Class M2 (30 day Average SOFR + 1.950%),<br> 5.824%, 02/25/2044 (C)(G) | 100000 | 100948 |
| &nbsp;&nbsp;&nbsp;Series 2024-DNA3, Class M2 (30 day Average SOFR + 1.450%),<br> 5.324%, 10/25/2044 (C)(G) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;69957 |
| &nbsp;&nbsp;&nbsp;Series 2024-MN9, Class M1 (30 day Average SOFR + 2.450%),<br> 6.315%, 10/25/2044 (C)(G) | &nbsp;&nbsp;23958 | &nbsp;&nbsp;&nbsp;24032 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA1, Class M2 (30 day Average SOFR + 1.350%),<br> 5.224%, 01/25/2045 (C)(G) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35000 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA2, Class A1 (30 day Average SOFR + 1.100%),<br> 4.974%, 05/25/2045 (C)(G) | &nbsp;&nbsp;14750 | &nbsp;&nbsp;&nbsp;14783 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA3, Class M2 (30 day Average SOFR + 1.500%),<br> 5.374%, 09/25/2045 (C)(G) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30080 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA4, Class M2 (30 day Average SOFR + 1.550%),<br> 5.424%, 10/25/2045 (C)(G) | 125000 | 125555 |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class M2 (30 day Average SOFR + 1.650%),<br> 5.524%, 02/25/2045 (C)(G) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30037 |
| &nbsp;&nbsp;&nbsp;Series 2025-MN10, Class M1 (30 day Average SOFR + 2.050%),<br> 5.924%, 02/25/2045 (C)(G) | &nbsp;&nbsp;98045 | &nbsp;&nbsp;&nbsp;97132 |
| &nbsp;&nbsp;&nbsp;Series 2025-MN11, Class M2 (30 day Average SOFR + 2.650%),<br> 6.524%, 07/25/2045 (C)(G) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;59966 |
| &nbsp;&nbsp;&nbsp;Series 324, Class C18 IO,<br> 4.000%, 12/15/2033 | 127384 | &nbsp;&nbsp;&nbsp;10420 |
| &nbsp;&nbsp;&nbsp;Series 400, Class C4 IO,<br> 3.000%, 12/25/2052 | 120375 | &nbsp;&nbsp;&nbsp;21750 |
| &nbsp;&nbsp;&nbsp;Series 405, Class C17 IO,<br> 2.500%, 08/25/2052 | 105018 | &nbsp;&nbsp;&nbsp;16225 |
| &nbsp;&nbsp;&nbsp;Series 4446, Class BI IO,<br> 6.500%, 04/15/2039 | &nbsp;&nbsp;51866 | &nbsp;&nbsp;&nbsp;&nbsp;9405 |
| &nbsp;&nbsp;&nbsp;Series 4975, Class EI IO,<br> 4.500%, 05/25/2050 | &nbsp;&nbsp;99184 | &nbsp;&nbsp;&nbsp;18695 |
| &nbsp;&nbsp;&nbsp;Series 5158, Class GI IO,<br> 3.500%, 06/25/2049 | &nbsp;&nbsp;78784 | &nbsp;&nbsp;&nbsp;13999 |
| &nbsp;&nbsp;&nbsp;Series 5462, Class S IO,<br> 2.126%, 10/25/2054 | 108469 | &nbsp;&nbsp;&nbsp;&nbsp;7746 |
| &nbsp;&nbsp;&nbsp;Series 5543, Class DZ,<br> 5.000%, 06/25/2055 | 195611 | 187214 |
| &nbsp;&nbsp;&nbsp;Series K103, Class X1 IO,<br> 0.634%, 11/25/2029 | 993349 | &nbsp;&nbsp;&nbsp;21250 |
| &nbsp;&nbsp;&nbsp;Series K106, Class X3 IO,<br> 1.909%, 03/25/2048 | 490000 | &nbsp;&nbsp;&nbsp;32272 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series K122, Class X1 IO,<br> 0.868%, 11/25/2030 | $&nbsp;&nbsp;97552 | $&nbsp;&nbsp;&nbsp;&nbsp;3415 |
| &nbsp;&nbsp;&nbsp;Series K129, Class X3 IO,<br> 3.161%, 05/25/2031 | 165000 | &nbsp;&nbsp;&nbsp;23368 |
| &nbsp;&nbsp;&nbsp;Series K737, Class X1 IO,<br> 0.606%, 10/25/2026 | 424680 | &nbsp;&nbsp;&nbsp;&nbsp;1421 |
| &nbsp;&nbsp;&nbsp;Series K740, Class X3 IO,<br> 2.481%, 11/25/2047 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;5319 |
| &nbsp;&nbsp;&nbsp;Series K742, Class X3, IO,<br> 2.595%, 04/25/2028 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;5510 |
| &nbsp;&nbsp;&nbsp;Series Q014, Class X IO,<br> 2.770%, 10/25/2055 | 144386 | &nbsp;&nbsp;&nbsp;20563 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-C02, Class 1B (30 day Average SOFR + 12.364%),<br> 16.239%, 09/25/2028 (G) | 103662 | 106115 |
| &nbsp;&nbsp;&nbsp;Series 2016-C03, Class 1B (30 day Average SOFR + 11.864%),<br> 15.739%, 10/25/2028 (G) | &nbsp;&nbsp;29562 | &nbsp;&nbsp;&nbsp;30468 |
| &nbsp;&nbsp;&nbsp;Series 2016-C04, Class 1B (30 day Average SOFR + 10.364%),<br> 14.239%, 01/25/2029 (G) | &nbsp;&nbsp;29478 | &nbsp;&nbsp;&nbsp;30825 |
| &nbsp;&nbsp;&nbsp;Series 2016-C06, Class 1B (30 day Average SOFR + 9.364%),<br> 13.239%, 04/25/2029 (G) | &nbsp;&nbsp;34455 | &nbsp;&nbsp;&nbsp;36422 |
| &nbsp;&nbsp;&nbsp;Series 2020-60, Class NI IO,<br> 4.000%, 09/25/2050 | &nbsp;&nbsp;76799 | &nbsp;&nbsp;&nbsp;15608 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class NI IO,<br> 2.500%, 02/25/2051 | 185727 | &nbsp;&nbsp;&nbsp;27999 |
| &nbsp;&nbsp;&nbsp;Series 2021-67, Class IG IO,<br> 3.000%, 10/25/2051 | 108832 | &nbsp;&nbsp;&nbsp;17734 |
| &nbsp;&nbsp;&nbsp;Series 2021-R03, Class 1B2 (30 day Average SOFR + 5.500%),<br> 9.374%, 12/25/2041 (C)(G) | 150000 | 155078 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2B1 (30 day Average SOFR + 4.500%),<br> 8.374%, 01/25/2042 (C)(G) | 175000 | 180844 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1B1 (30 day Average SOFR + 6.250%),<br> 10.124%, 03/25/2042 (C)(G) | &nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;73167 |
| &nbsp;&nbsp;&nbsp;Series 2022-R05, Class 2B1 (30 day Average SOFR + 4.500%),<br> 8.374%, 04/25/2042 (C)(G) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;72903 |
| &nbsp;&nbsp;&nbsp;Series 2023-2, Class CI IO,<br> 2.000%, 10/25/2050 | &nbsp;&nbsp;81913 | &nbsp;&nbsp;&nbsp;&nbsp;9977 |
| &nbsp;&nbsp;&nbsp;Series 2023-R01, Class 1B1 (30 day Average SOFR + 5.100%),<br> 8.974%, 12/25/2042 (C)(G) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21365 |
| &nbsp;&nbsp;&nbsp;Series 2023-R02, Class 1M2 (30 day Average SOFR + 3.350%),<br> 7.224%, 01/25/2043 (C)(G) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;41458 |
| &nbsp;&nbsp;&nbsp;Series 2023-R03, Class 2M2 (30 day Average SOFR + 3.900%),<br> 7.774%, 04/25/2043 (C)(G) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;36803 |
| &nbsp;&nbsp;&nbsp;Series 2023-R05, Class 1M2 (30 day Average SOFR + 3.100%),<br> 6.974%, 06/25/2043 (C)(G) | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;37334 |
| &nbsp;&nbsp;&nbsp;Series 2023-R06, Class 1B1 (30 day Average SOFR + 3.900%),<br> 7.774%, 07/25/2043 (C)(G) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21053 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 68 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-R06, Class 1M2 (30 day Average SOFR + 2.700%),<br> 6.574%, 07/25/2043 (C)(G) | $110000 | $&nbsp;&nbsp;&nbsp;&nbsp;113047 |
| &nbsp;&nbsp;&nbsp;Series 2023-R08, Class 1B1 (30 day Average SOFR + 3.550%),<br> 7.424%, 10/25/2043 (C)(G) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;36561 |
| &nbsp;&nbsp;&nbsp;Series 2023-R08, Class 1M2 (30 day Average SOFR + 2.500%),<br> 6.374%, 10/25/2043 (C)(G) | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;127070 |
| &nbsp;&nbsp;&nbsp;Series 2024-86, Class SA IO,<br> 1.176%, 12/25/2054 | 172824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6151 |
| &nbsp;&nbsp;&nbsp;Series 2024-90, Class B,<br> 5.000%, 07/25/2051 | 234455 | &nbsp;&nbsp;&nbsp;&nbsp;234861 |
| &nbsp;&nbsp;&nbsp;Series 2024-R02, Class 1B1 (30 day Average SOFR + 2.500%),<br> 6.374%, 02/25/2044 (C)(G) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;61088 |
| &nbsp;&nbsp;&nbsp;Series 2024-R04, Class 1M2 (30 day Average SOFR + 1.650%),<br> 5.524%, 05/25/2044 (C)(G) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;90282 |
| &nbsp;&nbsp;&nbsp;Series 2024-R05, Class 2B1 (30 day Average SOFR + 2.000%),<br> 5.874%, 07/25/2044 (C)(G) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;35086 |
| &nbsp;&nbsp;&nbsp;Series 2025-22, Class AZ,<br> 5.000%, 04/25/2055 | 186843 | &nbsp;&nbsp;&nbsp;&nbsp;178605 |
| &nbsp;&nbsp;&nbsp;Series 2025-44, Class ZA,<br> 5.000%, 06/25/2055 | 185316 | &nbsp;&nbsp;&nbsp;&nbsp;170109 |
| &nbsp;&nbsp;&nbsp;Series 2025-R01, Class 1B1 (30 day Average SOFR + 1.700%),<br> 5.574%, 01/25/2045 (C)(G) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;59666 |
| &nbsp;&nbsp;&nbsp;Series 2025-R03, Class 2M2 (30 day Average SOFR + 2.250%),<br> 6.124%, 03/25/2045 (C)(G) | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;111608 |
| &nbsp;&nbsp;&nbsp;Series 2025-R04, Class 1M2 (30 day Average SOFR + 1.500%),<br> 5.374%, 05/25/2045 (C)(G) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;30001 |
| &nbsp;&nbsp;&nbsp;Series 2025-R05, Class 2M2 (30 day Average SOFR + 1.600%),<br> 5.474%, 07/25/2045 (C)(G) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;70241 |
| &nbsp;&nbsp;&nbsp;Series 2025-R06, Class 1B1 (30 day Average SOFR + 1.850%),<br> 5.724%, 09/25/2045 (C)(G) | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;47186 |
| &nbsp;&nbsp;&nbsp;Series 410, Class C8 IO,<br> 4.000%, 04/25/2032 | &nbsp;&nbsp;68178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5091 |
| &nbsp;&nbsp;&nbsp;Series 437, Class C8 IO,<br> 2.500%, 06/25/2052 | 106088 | &nbsp;&nbsp;&nbsp;&nbsp;16051 |
| &nbsp;&nbsp;&nbsp;Series 441, Class C5 IO,<br> 2.000%, 04/25/2052 | &nbsp;&nbsp;89204 | &nbsp;&nbsp;&nbsp;&nbsp;11170 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-62, Class CI IO,<br> 4.500%, 05/20/2045 | 104434 | &nbsp;&nbsp;&nbsp;&nbsp;23199 |
| &nbsp;&nbsp;&nbsp;Series 2017-130, Class IO,<br> 4.500%, 02/20/2040 | 103206 | &nbsp;&nbsp;&nbsp;&nbsp;17580 |
| &nbsp;&nbsp;&nbsp;Series 2018-168, Class AI IO,<br> 5.000%, 12/16/2048 | &nbsp;&nbsp;85642 | &nbsp;&nbsp;&nbsp;&nbsp;17469 |
| &nbsp;&nbsp;&nbsp;Series 2020-146, Class IA IO,<br> 3.500%, 11/20/2041 | 153486 | &nbsp;&nbsp;&nbsp;&nbsp;23125 |
| &nbsp;&nbsp;&nbsp;Series 2021-142, Class BI IO,<br> 3.500%, 08/20/2051 | 110902 | &nbsp;&nbsp;&nbsp;&nbsp;19510 |
|  |  | 4630633 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $8,671,190) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $8,671,190) | $8771756 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES - 3.2%** | **ASSET-BACKED SECURITIES - 3.2%** |  |
| Apidos CLO XXXII, Series 2019-32A, Class ER (3 month CME Term SOFR + 5.500%),<br> 9.384%, 01/20/2033 (C)(G) | $250000 | $250156 |
| Bain Capital Credit CLO, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3A, Class CR (3 month CME Term SOFR + 1.900%),<br> 5.765%, 07/24/2034 (C)(G) | 100000 | 100018 |
| &nbsp;&nbsp;&nbsp;Series 2020-5A, Class DRR (3 month CME Term SOFR + 2.900%),<br> 6.784%, 04/20/2034 (C)(G) | 250000 | 248224 |
| &nbsp;&nbsp;&nbsp;Series 2020-4A, Class DAR2 (3 month CME Term SOFR + 2.950%),<br> 6.837%, 10/20/2036 (C)(G) | 250000 | 250147 |
| Benefit Street Partners Clo XXII, Ltd., Series 2020-22A, Class CRR (3 month CME Term SOFR + 1.750%),<br> 5.634%, 04/20/2035 (C)(G) | 250000 | 251044 |
| BlueMountain CLO, Ltd., Series 2018-2A, Class D (3 month CME Term SOFR + 3.412%),<br> 7.263%, 08/15/2031 (C)(G) | 250000 | 250482 |
| DataBank Issuer, Series 2021-2A, Class A2,<br> 2.400%, 10/25/2051 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;53889 |
| DB Master Finance LLC, Series 2025-1A, Class A2I,<br> 4.891%, 08/20/2055 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;50102 |
| Domino's Pizza Master Issuer LLC, Series 2021-1A, Class A2I,<br> 2.662%, 04/25/2051 (C) | &nbsp;&nbsp;97250 | &nbsp;&nbsp;&nbsp;92438 |
| FirstKey Homes Trust, Series 2022-SFR1, Class C,<br> 4.642%, 05/19/2039 (C) | 105000 | 104714 |
| Flatiron CLO 23 LLC, Series 2023-1A, Class CR (3 month CME Term SOFR + 1.800%),<br> 5.682%, 04/17/2036 (C)(G) | 250000 | 250364 |
| Greystone Commercial Real Estate Notes, Ltd., Series 2021-FL3, Class B (1 month CME Term SOFR + 1.764%),<br> 5.515%, 07/15/2039 (C)(G) | 100000 | &nbsp;&nbsp;&nbsp;99873 |
| Hertz Vehicle Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class C,<br> 2.950%, 06/26/2028 (C) | 100000 | &nbsp;&nbsp;&nbsp;97549 |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class C,<br> 2.520%, 12/27/2027 (C) | 100000 | &nbsp;&nbsp;&nbsp;98145 |
| &nbsp;&nbsp;&nbsp;Series 2025-5A, Class C,<br> 5.500%, 05/25/2030 (C) | 100000 | &nbsp;&nbsp;&nbsp;99699 |
| Hilton Grand Vacations Trust, Series 2024-3A, Class B,<br> 5.270%, 08/27/2040 (C) | &nbsp;&nbsp;61101 | &nbsp;&nbsp;&nbsp;61851 |
| Horizon Aircraft Finance I, Ltd., Series 2018-1, Class A,<br> 4.458%, 12/15/2038 (C) | &nbsp;&nbsp;79953 | &nbsp;&nbsp;&nbsp;79180 |
| Horizon Aircraft Finance II, Ltd., Series 2019-1, Class A,<br> 3.721%, 07/15/2039 (C) | &nbsp;&nbsp;66940 | &nbsp;&nbsp;&nbsp;65799 |
| Jersey Mike's Funding LLC, Series 2025-1A, Class A2,<br> 5.610%, 08/16/2055 (C) | &nbsp;&nbsp;49875 | &nbsp;&nbsp;&nbsp;50768 |
| Kestrel Aircraft Funding, Ltd., Series 2018-1A, Class A,<br> 4.250%, 12/15/2038 (C) | &nbsp;&nbsp;32665 | &nbsp;&nbsp;&nbsp;32681 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 69 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Lunar Structured Aircraft Portfolio Notes, Series 2021-1, Class A,<br> 2.636%, 10/15/2046 (C) | 163720 | $&nbsp;&nbsp;&nbsp;&nbsp;156191 |
| MAPS Trust, Series 2021-1A, Class A,<br> 2.521%, 06/15/2046 (C) | &nbsp;&nbsp;53535 | &nbsp;&nbsp;&nbsp;&nbsp;51293 |
| OCP CLO, Ltd., Series 2015-9A, Class D1R3 (3 month CME Term SOFR + 2.500%),<br> 6.405%, 01/15/2037 (C)(G) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;250085 |
| OneMain Direct Auto Receivables Trust, Series 2025-1A, Class D,<br> 6.100%, 07/14/2037 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;102560 |
| Palmer Square Loan Funding, Ltd., Series 2025-1A, Class C (3 month CME Term SOFR + 2.250%),<br> 6.102%, 02/15/2033 (C)(G) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;249403 |
| Rockford Tower CLO, Ltd., Series 2021-1A, Class B (3 month CME Term SOFR + 1.912%),<br> 5.796%, 07/20/2034 (C)(G) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;250181 |
| Santander Drive Auto Receivables Trust, Series 2025-4, Class D,<br> 4.950%, 01/15/2032 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;75274 |
| Slam, Ltd., Series 2024-1A, Class A,<br> 5.335%, 09/15/2049 (C) | &nbsp;&nbsp;91972 | &nbsp;&nbsp;&nbsp;&nbsp;93143 |
| Sonic Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2I,<br> 3.845%, 01/20/2050 (C) | &nbsp;&nbsp;89933 | &nbsp;&nbsp;&nbsp;&nbsp;89002 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II,<br> 2.636%, 08/20/2051 (C) | &nbsp;&nbsp;47584 | &nbsp;&nbsp;&nbsp;&nbsp;41252 |
| Start II, Ltd., Series 2019-1, Class A,<br> 4.089%, 03/15/2044 (C) | &nbsp;&nbsp;75178 | &nbsp;&nbsp;&nbsp;&nbsp;74996 |
| Subway Funding LLC, Series 2024-1A, Class A2I,<br> 6.028%, 07/30/2054 (C) | &nbsp;&nbsp;69300 | &nbsp;&nbsp;&nbsp;&nbsp;70252 |
| Switch ABS Issuer LLC, Series 2025-1A, Class A2,<br> 5.036%, 03/25/2055 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;49150 |
| Symphony CLO XXII, Ltd., Series 2020-22A, Class CR (3 month CME Term SOFR + 2.100%),<br> 5.984%, 04/18/2033 (C)(G) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;250020 |
| Taco Bell Funding LLC, Series 2025-1A, Class A2I,<br> 4.821%, 08/25/2055 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;84523 |
| VCAT LLC, Series 2025-NPL1, Class A1 (5.877% to 1-25-28, then 8.877% to 1-25-29, then 9.877% thereafter),<br> 5.877%, 01/25/2055 (C) | &nbsp;&nbsp;73810 | &nbsp;&nbsp;&nbsp;&nbsp;74071 |
| VOLT CII LLC, Series 2021-NP11, Class A1,<br> 5.868%, 08/25/2051 (C) | &nbsp;&nbsp;26043 | &nbsp;&nbsp;&nbsp;&nbsp;26040 |
| TOTAL ASSET-BACKED SECURITIES (Cost $4,551,666) | TOTAL ASSET-BACKED SECURITIES (Cost $4,551,666) | $4574559 |
| **COMMON STOCKS - 0.0%** | **COMMON STOCKS - 0.0%** |  |
| **China - 0.0%** |  |  |
| Yuzhou Group Holdings Company, Ltd. (L) | &nbsp;&nbsp;30226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 |
| **Mexico - 0.0%** |  |  |
| Unifin Financiera SAB de CV (K)(L) | &nbsp;&nbsp;27653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **United States - 0.0%** |  |  |
| Beyond Meat, Inc. (F)(L) | &nbsp;&nbsp;36873 | &nbsp;&nbsp;&nbsp;&nbsp;30236 |
| TOTAL COMMON STOCKS (Cost $189,399) | TOTAL COMMON STOCKS (Cost $189,399) | $&nbsp;&nbsp;&nbsp;&nbsp;30643 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **PREFERRED SECURITIES - 3.1%** | **PREFERRED SECURITIES - 3.1%** |  |
| **Bermuda - 0.1%** |  |  |
| Enstar Group, Ltd., 7.000% (7.000% to 9-1-28, then 3 month LIBOR + 4.015%) | &nbsp;&nbsp;&nbsp;3337 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78920 |
| **United States - 3.0%** |  |  |
| AGNC Investment Corp., 7.750% (7.750% to 10-15-27, then 5 Year CMT + 4.390%) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247500 |
| AGNC Investment Corp., 8.863% (3 month CME Term SOFR + 4.959%) (G) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245400 |
| Ares Management Corp., 6.750% | &nbsp;&nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60278 |
| Bank of America Corp., 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;&nbsp;&nbsp;1019128 |
| Brighthouse Financial, Inc., 5.375% | &nbsp;&nbsp;&nbsp;2476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30900 |
| Citizens Financial Group, Inc., 6.500% (6.500% to 10-6-30, then 5 Year CMT + 2.629%) | &nbsp;&nbsp;23525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597300 |
| Citizens Financial Group, Inc., 7.375% | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3426 |
| Comerica, Inc., 6.875% (6.875% to 10-1-30, then 5 Year CMT + 3.125%) (F) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261000 |
| Corebridge Financial, Inc., 6.375% | &nbsp;&nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37130 |
| DTE Energy Company, 6.250% | &nbsp;&nbsp;&nbsp;2125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52891 |
| KKR & Company, Inc., 6.250% | &nbsp;&nbsp;&nbsp;1236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64074 |
| Morgan Stanley, 6.625% | &nbsp;&nbsp;&nbsp;2850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74471 |
| PG&E Corp., 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28290 |
| Sempra, 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11873 |
| Stifel Financial Corp., 5.200% | &nbsp;&nbsp;11229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229858 |
| Synchrony Financial, 8.250% (8.250% to 5-15-29, then 5 Year CMT + 4.044%) | &nbsp;&nbsp;&nbsp;3884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102110 |
| The Boeing Company, 6.000% | &nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84391 |
| The Southern Company, 6.500% | &nbsp;&nbsp;&nbsp;3306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83972 |
| T-Mobile USA, Inc., 5.500% (F) | &nbsp;&nbsp;&nbsp;1997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46830 |
| T-Mobile USA, Inc., 5.500% | &nbsp;&nbsp;&nbsp;2199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50929 |
| T-Mobile USA, Inc., 6.250% | &nbsp;&nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25776 |
| Wells Fargo & Company, 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4307735 |
| TOTAL PREFERRED SECURITIES (Cost $4,226,845) | TOTAL PREFERRED SECURITIES (Cost $4,226,845) | $&nbsp;&nbsp;&nbsp;&nbsp;4386655 |
| **EXCHANGE-TRADED FUNDS - 0.0%** | **EXCHANGE-TRADED FUNDS - 0.0%** |  |
| iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59666 |
| TOTAL EXCHANGE-TRADED FUNDS (Cost $59,035) | TOTAL EXCHANGE-TRADED FUNDS (Cost $59,035) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59666 |
| **ESCROW CERTIFICATES - 0.0%** |  |  |
| Sunnova Energy International, Inc. (K)(L) | $&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
| Sunnova Energy International, Inc. (K)(L) | 390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683 |
| Unifin Financiera SAB de CV (L) | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16195 |
| TOTAL ESCROW CERTIFICATES (Cost $433,138) | TOTAL ESCROW CERTIFICATES (Cost $433,138) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16908 |
| **SHORT-TERM INVESTMENTS - 1.3%** | **SHORT-TERM INVESTMENTS - 1.3%** |  |
| **Short-term funds - 1.3%** |  |  |
| John Hancock Collateral Trust, 3.7477% (M)(N) | 124086 | &nbsp;&nbsp;&nbsp;&nbsp;1241384 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 3.7239% (M) | 570187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570187 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,811,566) | TOTAL SHORT-TERM INVESTMENTS (Cost $1,811,566) | $&nbsp;&nbsp;&nbsp;&nbsp;1811571 |
| **Total Investments (Opportunistic Fixed Income Trust)<br> (Cost $168,664,558) - 116.3%** | **Total Investments (Opportunistic Fixed Income Trust)<br> (Cost $168,664,558) - 116.3%** | $**166790171** |
| **Other assets and liabilities, net - (16.3%)** | **Other assets and liabilities, net - (16.3%)** | &nbsp;&nbsp;**(23425800)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**143364371** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 70 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SALE COMMITMENTS<br> OUTSTANDING - (17.8%)** |  |  |
| **U.S. Government Agency - (17.8)%** |  |  |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, TBA (A) | $(1470000) | $&nbsp;&nbsp;&nbsp;(1187312) |
| &nbsp;&nbsp;&nbsp;2.000%, TBA (A) | (1470000) | &nbsp;&nbsp;&nbsp;(1187599) |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (A) | &nbsp;&nbsp;(685000) | &nbsp;&nbsp;&nbsp;&nbsp;(578745) |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (A) | (1140000) | &nbsp;&nbsp;&nbsp;&nbsp;(963434) |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (A) | (1231000) | &nbsp;&nbsp;&nbsp;(1087992) |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (A) | (1231000) | &nbsp;&nbsp;&nbsp;(1087848) |
| &nbsp;&nbsp;&nbsp;3.500%, TBA (A) | &nbsp;&nbsp;(200000) | &nbsp;&nbsp;&nbsp;&nbsp;(184758) |
| &nbsp;&nbsp;&nbsp;3.500%, TBA (A) | &nbsp;&nbsp;(200000) | &nbsp;&nbsp;&nbsp;&nbsp;(184773) |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (A) | &nbsp;&nbsp;(905000) | &nbsp;&nbsp;&nbsp;&nbsp;(858513) |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (A) | &nbsp;&nbsp;(905000) | &nbsp;&nbsp;&nbsp;&nbsp;(858265) |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) | &nbsp;&nbsp;(300000) | &nbsp;&nbsp;&nbsp;&nbsp;(292559) |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) | &nbsp;&nbsp;(495000) | &nbsp;&nbsp;&nbsp;&nbsp;(483804) |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) | &nbsp;&nbsp;(909000) | &nbsp;&nbsp;&nbsp;&nbsp;(887163) |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (A) | (1716000) | &nbsp;&nbsp;&nbsp;(1713453) |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (A) | (1716000) | &nbsp;&nbsp;&nbsp;(1711710) |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (A) | (1255000) | &nbsp;&nbsp;&nbsp;(1288385) |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (A) | (8277000) | &nbsp;&nbsp;&nbsp;(8500739) |
| &nbsp;&nbsp;&nbsp;6.500%, TBA (A) | &nbsp;&nbsp;(825000) | &nbsp;&nbsp;&nbsp;&nbsp;(856872) |
| &nbsp;&nbsp;&nbsp;6.500%, TBA (A) | &nbsp;&nbsp;(825000) | &nbsp;&nbsp;&nbsp;&nbsp;(857194) |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) | &nbsp;&nbsp;(365000) | &nbsp;&nbsp;&nbsp;&nbsp;(355745) |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) | &nbsp;&nbsp;(365000) | &nbsp;&nbsp;&nbsp;&nbsp;(355545) |
| TOTAL SALE COMMITMENTS OUTSTANDING (Proceeds received $25,413,801) | TOTAL SALE COMMITMENTS OUTSTANDING (Proceeds received $25,413,801) | $(25482408) |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CLP | Chilean Peso |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| EUR | Euro |
| GBP | Pound Sterling |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| ISK | Icelandic Krona |
| JPY | Japanese Yen |
| KRW | Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PLN | Polish Zloty |

---

---

| | |
|:---|:---|
| RON | Romanian New Leu |
| THB | Thai Bhat |
| TRY | Turkish Lira |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed-delivery basis. |
| (B) | 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. |
| (C) | This security is 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 $33,139,303 or 23.1% of the fund's net assets as of 12-31-25. |
| (D) | Non-income producing - Issuer is in default. |
| (E) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (F) | All or a portion of this security is on loan as of 12-31-25. |
| (G) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (H) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
| (I) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
| (J) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (K) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (L) | Non-income producing security. |
| (M) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (N) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 10-Year Australian Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;$4583507 | &nbsp;&nbsp;&nbsp;&nbsp;$4603044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19537 |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7129371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7083565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45806) |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2713989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2714258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4045164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4044273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(891) |
| Euro SCHATZ Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(345) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 71 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FUTURES (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)**  |
| German Euro BOBL Futures | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;$1773590 | &nbsp;&nbsp;&nbsp;&nbsp;$1774646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1056 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2857) |
| Ultra 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29555) |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281 |
| Euro-BTP Italian Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6367916) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6355599) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12317 |
| Euro-Buxl Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(782783) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(776478) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6305 |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3920805) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3897927) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22878 |
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1975389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1970596) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4793 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(11018)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| ARS | &nbsp;&nbsp;57964000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;39294 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;2/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(1869) |
| ARS | &nbsp;&nbsp;15485000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;10255 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;2/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(257) |
| AUD | &nbsp;&nbsp;225000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;147502 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;$2655 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;14100 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9093 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;317 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;975000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;648643 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;2034 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;632000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;423333 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1560) |
| AUD | &nbsp;&nbsp;14100 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9445 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34) |
| AUD | &nbsp;&nbsp;3825000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2547064 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;5920 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;20000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;13306 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;42 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;58956000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;10620210 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/5/2026 | &nbsp;&nbsp;138672 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;60886000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;11080337 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/5/2026 | &nbsp;&nbsp;30753 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;1930000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;352640 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/5/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(434) |
| BRL | &nbsp;&nbsp;7947000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1418828 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;2/3/2026 | &nbsp;&nbsp;20488 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;140000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;25896 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/3/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(680) |
| BRL | &nbsp;&nbsp;1722000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;311183 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/3/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1026) |
| BRL | &nbsp;&nbsp;100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;18324 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/3/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(312) |
| BRL | &nbsp;&nbsp;55000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9924 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/3/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) |
| CAD | &nbsp;&nbsp;2057000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1501718 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2696) |
| CAD | &nbsp;&nbsp;2505000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1823856 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;3529 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;15000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;10955 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;9 | &nbsp;&nbsp;— |
| CHF | &nbsp;&nbsp;1191000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1499701 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;4060 | &nbsp;&nbsp;— |
| CHF | &nbsp;&nbsp;6500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;8096 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;111 | &nbsp;&nbsp;— |
| CHF | &nbsp;&nbsp;6500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;8205 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;23 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;677600000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;743651 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/2/2026 | &nbsp;&nbsp;8536 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;1073000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1168579 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/2/2026 | &nbsp;&nbsp;22532 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;250900000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;271038 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;7504 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;1009317000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1116130 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;4383 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;139840000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;153165 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;2081 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;1570468000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1731364 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;14139 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;347400000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;382229 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;3890 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;27400000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;29880 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;582 | &nbsp;&nbsp;— |
| CNY | &nbsp;&nbsp;214000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;30232 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;2/2/2026 | &nbsp;&nbsp;497 | &nbsp;&nbsp;— |
| CNY | &nbsp;&nbsp;618000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;88139 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;831 | &nbsp;&nbsp;— |
| CNY | &nbsp;&nbsp;202000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;28843 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;238 | &nbsp;&nbsp;— |
| CNY | &nbsp;&nbsp;291000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;41606 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;288 | &nbsp;&nbsp;— |
| COP | &nbsp;&nbsp;1174432000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;305134 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;5488 | &nbsp;&nbsp;— |
| COP | &nbsp;&nbsp;1174432000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;307886 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1160) |
| COP | &nbsp;&nbsp;52100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;13480 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) |
| CZK | &nbsp;&nbsp;30899000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1470674 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;32435 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;30899000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1498928 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;4738 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;390000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;18941 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;51 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;740000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;36087 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50) |
| CZK | &nbsp;&nbsp;3468000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;167710 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;1176 | &nbsp;&nbsp;— |
| DOP | &nbsp;&nbsp;1090000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;16899 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;5/29/2026 | &nbsp;&nbsp;389 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;2290000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;38840 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/8/2026 | &nbsp;&nbsp;9121 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;2380000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;40325 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/8/2026 | &nbsp;&nbsp;9521 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;1049000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;18102 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/26/2026 | &nbsp;&nbsp;3739 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;1928000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;33293 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/27/2026 | &nbsp;&nbsp;6837 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;1320000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;26911 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;2/12/2026 | &nbsp;&nbsp;412 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 72 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| EGP | &nbsp;&nbsp;490000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9647 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/6/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2) |
| EGP | &nbsp;&nbsp;3360000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;60710 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;10/5/2026 | &nbsp;&nbsp;$3436 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1700 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1981 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;17 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1268000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1486984 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;3311 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;202500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;233847 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;4154 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;3800 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4414 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;53 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;201700 | &nbsp;&nbsp;USD | &nbsp;&nbsp;236789 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;529 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;11000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;12934 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;8 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;44000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;51859 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;24 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;30000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;35268 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;107 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;20000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;23614 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) |
| EUR | &nbsp;&nbsp;16000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;18822 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;44 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;1112300 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1450995 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;48328 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;904300 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1222515 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3602) |
| GBP | &nbsp;&nbsp;4000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5366 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;26 | &nbsp;&nbsp;— |
| HKD | &nbsp;&nbsp;410000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;52739 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54) |
| HKD | &nbsp;&nbsp;410000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;52748 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) |
| HKD | &nbsp;&nbsp;45000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5788 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;—— | &nbsp;&nbsp;—— |
| HUF | &nbsp;&nbsp;496937000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1487546 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;31891 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;496937000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1512575 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;4433 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;5900000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;17905 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;50 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;27662000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;84362 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(183) |
| IDR | &nbsp;&nbsp;24336504000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1452275 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;6735 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;6002000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;357475 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;1859 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;24336504000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1450674 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;6329 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;7104470000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;424483 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/25/2026 | &nbsp;&nbsp;76 | &nbsp;&nbsp;— |
| INR | &nbsp;&nbsp;31242000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;347172 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;347 | &nbsp;&nbsp;— |
| INR | &nbsp;&nbsp;57410000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;637555 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(335) |
| INR | &nbsp;&nbsp;4210000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;46561 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) |
| INR | &nbsp;&nbsp;3630000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;40128 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
| INR | &nbsp;&nbsp;12992000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;142416 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;1193 | &nbsp;&nbsp;— |
| INR | &nbsp;&nbsp;13665000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;150115 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;933 | &nbsp;&nbsp;— |
| INR | &nbsp;&nbsp;4699000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;51240 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;701 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;217230000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1392103 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(5164) |
| JPY | &nbsp;&nbsp;217230000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1389952 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(164) |
| JPY | &nbsp;&nbsp;327300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2086126 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;7865 | &nbsp;&nbsp;— |
| KRW | &nbsp;&nbsp;2019313000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1372618 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;28300 | &nbsp;&nbsp;— |
| KRW | &nbsp;&nbsp;2019313000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1394601 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;5002 | &nbsp;&nbsp;— |
| KRW | &nbsp;&nbsp;17810000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;12142 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;224 | &nbsp;&nbsp;— |
| KRW | &nbsp;&nbsp;111520000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;76085 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;1345 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;13700000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;25410 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;883 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;61600000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;114728 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;3494 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;14700000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;26638 | &nbsp;&nbsp;DB | &nbsp;&nbsp;5/26/2026 | &nbsp;&nbsp;910 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;111300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;200703 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;6/15/2026 | &nbsp;&nbsp;6455 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;2490000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;138315 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64) |
| MXN | &nbsp;&nbsp;1127000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;62455 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) |
| MXN | &nbsp;&nbsp;570000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;31343 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;87 | &nbsp;&nbsp;— |
| MYR | &nbsp;&nbsp;963000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;235130 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;3066 | &nbsp;&nbsp;— |
| NGN | &nbsp;&nbsp;34791000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;20883 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;2/9/2026 | &nbsp;&nbsp;2733 | &nbsp;&nbsp;— |
| NGN | &nbsp;&nbsp;7072000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4665 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;57 | &nbsp;&nbsp;— |
| NGN | &nbsp;&nbsp;43134000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;28082 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;6/8/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(260) |
| NOK | &nbsp;&nbsp;14976000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1458697 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;27062 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;14976000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1494558 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(8696) |
| NOK | &nbsp;&nbsp;7280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;719423 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;2872 | &nbsp;&nbsp;— |
| NZD | &nbsp;&nbsp;2590000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1501836 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(10582) |
| NZD | &nbsp;&nbsp;2820000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1634951 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(9800) |
| NZD | &nbsp;&nbsp;25000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;14538 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105) |
| PEN | &nbsp;&nbsp;391000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;115794 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;223 | &nbsp;&nbsp;— |
| PHP | &nbsp;&nbsp;64109000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1087829 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;1380 | &nbsp;&nbsp;— |
| PHP | &nbsp;&nbsp;64109000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1087515 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1947) |
| PLN | &nbsp;&nbsp;5382000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1498323 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;831 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;2174000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;600997 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;4337 | &nbsp;&nbsp;— |
| RON | &nbsp;&nbsp;65000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;14935 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;5 | &nbsp;&nbsp;— |
| RON | &nbsp;&nbsp;403000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;92503 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;126 | &nbsp;&nbsp;— |
| RSD | &nbsp;&nbsp;4360000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;43549 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;95 | &nbsp;&nbsp;— |
| SEK | &nbsp;&nbsp;3369000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;367055 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1079) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 73 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| SGD | &nbsp;&nbsp;1922000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1497569 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(2105) |
| SGD | &nbsp;&nbsp;30000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;23457 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| SGD | &nbsp;&nbsp;30000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;23492 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43) |
| SGD | &nbsp;&nbsp;55000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;42877 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;$113 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;20000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;15578 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;54 | &nbsp;&nbsp;— |
| THB | &nbsp;&nbsp;11120000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;351398 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;2084 | &nbsp;&nbsp;— |
| THB | &nbsp;&nbsp;9054000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;287247 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;1617 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;9997000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;227426 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;5132 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;9997000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;227784 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;707 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;1075000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;23558 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;167 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;1683000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;36709 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;433 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;2510000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;45324 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;4/27/2026 | &nbsp;&nbsp;8431 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;24005000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;430077 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;4/28/2026 | &nbsp;&nbsp;83628 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;12000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;220814 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/17/2026 | &nbsp;&nbsp;21037 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;15000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;268914 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/16/2026 | &nbsp;&nbsp;19918 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;7850000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;139954 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;11/4/2026 | &nbsp;&nbsp;5678 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;9565000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;169409 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;12/16/2026 | &nbsp;&nbsp;2467 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1181442 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;1832000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(41164) |
| USD | &nbsp;&nbsp;9445 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;14100 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;35 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;423371 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;632000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;1545 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;6335364 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;9514000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(14725) |
| USD | &nbsp;&nbsp;13401 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;20000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;53 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;29987 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;45000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46) |
| USD | &nbsp;&nbsp;10699892 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;58956000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/5/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(58993) |
| USD | &nbsp;&nbsp;11165170 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;60886000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/5/2026 | &nbsp;&nbsp;54079 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;350756 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;1930000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/5/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1450) |
| USD | &nbsp;&nbsp;9106961 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;51009000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;2/3/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(131505) |
| USD | &nbsp;&nbsp;820172 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;4529000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/3/2026 | &nbsp;&nbsp;4432 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;31989 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;180000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/3/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(432) |
| USD | &nbsp;&nbsp;1463637 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;2057000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(35385) |
| USD | &nbsp;&nbsp;66984 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;92000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130) |
| USD | &nbsp;&nbsp;1503264 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;2057000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;2694 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;40074 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;55000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(128) |
| USD | &nbsp;&nbsp;10990 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;15000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;25 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;8185 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;6500 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) |
| USD | &nbsp;&nbsp;1483348 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;1191000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(20413) |
| USD | &nbsp;&nbsp;1503376 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;1191000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4123) |
| USD | &nbsp;&nbsp;728681 | &nbsp;&nbsp;CLP | &nbsp;&nbsp;677600000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/2/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(23506) |
| USD | &nbsp;&nbsp;1176849 | &nbsp;&nbsp;CLP | &nbsp;&nbsp;1073000000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/2/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(14261) |
| USD | &nbsp;&nbsp;1493012 | &nbsp;&nbsp;CLP | &nbsp;&nbsp;1400057000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(61290) |
| USD | &nbsp;&nbsp;1877128 | &nbsp;&nbsp;CLP | &nbsp;&nbsp;1699957000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12295) |
| USD | &nbsp;&nbsp;11195 | &nbsp;&nbsp;CLP | &nbsp;&nbsp;10250000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200) |
| USD | &nbsp;&nbsp;657824 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;4615000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4734) |
| USD | &nbsp;&nbsp;311108 | &nbsp;&nbsp;COP | &nbsp;&nbsp;1174432000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;485 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1930827 | &nbsp;&nbsp;COP | &nbsp;&nbsp;7409356000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4270) |
| USD | &nbsp;&nbsp;51464 | &nbsp;&nbsp;COP | &nbsp;&nbsp;198300000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;239 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;77805 | &nbsp;&nbsp;COP | &nbsp;&nbsp;300505000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;179 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1498407 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;30899000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4702) |
| USD | &nbsp;&nbsp;7940584 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;164367000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(58156) |
| USD | &nbsp;&nbsp;22293 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;460000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(108) |
| USD | &nbsp;&nbsp;59051 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;1227000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(701) |
| USD | &nbsp;&nbsp;77654 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;3850000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/8/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2980) |
| USD | &nbsp;&nbsp;10257 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;490000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/8/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| USD | &nbsp;&nbsp;5978 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;330000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/8/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(933) |
| USD | &nbsp;&nbsp;236534 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;201700 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(527) |
| USD | &nbsp;&nbsp;1464284 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1268000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(26011) |
| USD | &nbsp;&nbsp;7326 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;6300 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79) |
| USD | &nbsp;&nbsp;13035093 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;11088386 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11419) |
| USD | &nbsp;&nbsp;23603 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;20000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;20 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;30639 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;26000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) |
| USD | &nbsp;&nbsp;22479 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;19000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;75 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1222548 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;904300 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;3598 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;277282 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;208000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3092) |
| USD | &nbsp;&nbsp;3224749 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;2404000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(15622) |
| USD | &nbsp;&nbsp;2690 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;2000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) |
| USD | &nbsp;&nbsp;52702 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;410000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;17 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 74 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;25090 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;195000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;$11 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1515052 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;496937000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(4385) |
| USD | &nbsp;&nbsp;1292506 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;426500000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(9479) |
| USD | &nbsp;&nbsp;23294 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;7700000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138) |
| USD | &nbsp;&nbsp;30411 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;10100000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(325) |
| USD | &nbsp;&nbsp;1451626 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;24336504000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(7385) |
| USD | &nbsp;&nbsp;556692 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;9358000000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3562) |
| USD | &nbsp;&nbsp;35700 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;599246000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/25/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110) |
| USD | &nbsp;&nbsp;1097000 | &nbsp;&nbsp;ILS | &nbsp;&nbsp;3520000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(8241) |
| USD | &nbsp;&nbsp;347527 | &nbsp;&nbsp;INR | &nbsp;&nbsp;31242000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;8 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;346412 | &nbsp;&nbsp;INR | &nbsp;&nbsp;31242000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(358) |
| USD | &nbsp;&nbsp;4295819 | &nbsp;&nbsp;INR | &nbsp;&nbsp;386826000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;2255 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;68875 | &nbsp;&nbsp;INR | &nbsp;&nbsp;6270000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(432) |
| USD | &nbsp;&nbsp;31045 | &nbsp;&nbsp;INR | &nbsp;&nbsp;2840000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(347) |
| USD | &nbsp;&nbsp;67955 | &nbsp;&nbsp;INR | &nbsp;&nbsp;6220000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(798) |
| USD | &nbsp;&nbsp;1387149 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;217230000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;210 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;2241995 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;351755000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(8453) |
| USD | &nbsp;&nbsp;1393591 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;2019313000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(7327) |
| USD | &nbsp;&nbsp;1702338 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;2516175000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(41645) |
| USD | &nbsp;&nbsp;28868 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;42460000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(613) |
| USD | &nbsp;&nbsp;17564 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;25920000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(433) |
| USD | &nbsp;&nbsp;537819 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;9991000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(16904) |
| USD | &nbsp;&nbsp;674980 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;12180000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;217 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;416801 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;7501000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;1252 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;129100 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;2340000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;74 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;75218 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;1370000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(323) |
| USD | &nbsp;&nbsp;32660 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;593000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38) |
| USD | &nbsp;&nbsp;1069755 | &nbsp;&nbsp;MYR | &nbsp;&nbsp;4360000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(6456) |
| USD | &nbsp;&nbsp;1494504 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;14976000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;8744 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;6481722 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;65590000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(25871) |
| USD | &nbsp;&nbsp;1453977 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;2590000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(37277) |
| USD | &nbsp;&nbsp;1503177 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;2590000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;10573 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;97401 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;168000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;584 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;11627 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;20000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;80 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;61361 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;105000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;744 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;792922 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;2675000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2196) |
| USD | &nbsp;&nbsp;1088438 | &nbsp;&nbsp;PHP | &nbsp;&nbsp;64109000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(770) |
| USD | &nbsp;&nbsp;1458185 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;5382000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(40969) |
| USD | &nbsp;&nbsp;1498143 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;5382000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(778) |
| USD | &nbsp;&nbsp;188243 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;675000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;251 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;100097 | &nbsp;&nbsp;RON | &nbsp;&nbsp;435000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147) |
| USD | &nbsp;&nbsp;176231 | &nbsp;&nbsp;RON | &nbsp;&nbsp;771000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(981) |
| USD | &nbsp;&nbsp;7609 | &nbsp;&nbsp;RSD | &nbsp;&nbsp;762000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) |
| USD | &nbsp;&nbsp;352626 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;3369000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(13350) |
| USD | &nbsp;&nbsp;367521 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;3369000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;1099 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1473034 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;1922000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(22431) |
| USD | &nbsp;&nbsp;1499876 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;1922000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;2110 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;148019 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;190000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(493) |
| USD | &nbsp;&nbsp;576422 | &nbsp;&nbsp;THB | &nbsp;&nbsp;17910000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;7099 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;356856 | &nbsp;&nbsp;THB | &nbsp;&nbsp;11100000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;4009 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;12411 | &nbsp;&nbsp;THB | &nbsp;&nbsp;390000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32) |
| USD | &nbsp;&nbsp;17818 | &nbsp;&nbsp;THB | &nbsp;&nbsp;560000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48) |
| USD | &nbsp;&nbsp;231819 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;9997000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(739) |
| USD | &nbsp;&nbsp;43950 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;1935000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(276) |
| USD | &nbsp;&nbsp;173003 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;7850000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(5733) |
| USD | &nbsp;&nbsp;206543 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;9565000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4547) |
| USD | &nbsp;&nbsp;469040 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;24005000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;4/28/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(44665) |
| USD | &nbsp;&nbsp;230703 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;12000000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/17/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(11148) |
| USD | &nbsp;&nbsp;182475 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;9565000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/16/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1703) |
| USD | &nbsp;&nbsp;99143 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;5435000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/16/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(5511) |
| USD | &nbsp;&nbsp;4595 | &nbsp;&nbsp;UYU | &nbsp;&nbsp;180000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;5 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;21970 | &nbsp;&nbsp;UYU | &nbsp;&nbsp;870000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(123) |
| USD | &nbsp;&nbsp;1526186 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;25350000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4430) |
| USD | &nbsp;&nbsp;669509 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;11210000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(6241) |
| USD | &nbsp;&nbsp;232583 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;3960000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(5334) |
| VND | &nbsp;&nbsp;4808950000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;181552 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;878 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 75 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| VND | &nbsp;&nbsp;4808950000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;180665 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;4/29/2026 | &nbsp;&nbsp;$158 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;25350000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1455822 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/7/2026 | &nbsp;&nbsp;74794 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;25350000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1523766 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/30/2026 | &nbsp;&nbsp;4359 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;160000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9485 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;128 | &nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;**$898541** | &nbsp;&nbsp;**$(961407)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;38430000 | NOK | NOK NIBOR NIBR | Fixed 4.060% | Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;$1414 | &nbsp;&nbsp;&nbsp;$(7707) | &nbsp;&nbsp;&nbsp;$(6293) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | USD | Fixed 3.704% | USD Compounded SOFR | Annual | Annual | May 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3547) | &nbsp;&nbsp;&nbsp;&nbsp;(3547) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;23960000 | CNY | Fixed 2.010% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Sep 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(56049) | &nbsp;&nbsp;&nbsp;(56049) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;11025000 | CNY | Fixed 1.753% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Sep 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(11379) | &nbsp;&nbsp;&nbsp;(11379) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;21340000 | CNY | Fixed 1.573% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;31000000 | NOK | NOK NIBOR NIBR | Fixed 3.909% | Annual | Semi-Annual | Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(25195) | &nbsp;&nbsp;&nbsp;(25195) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;21680000 | CNY | Fixed 1.604% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2013) | &nbsp;&nbsp;&nbsp;&nbsp;(2013) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490000 | AUD | AUD BBR BBSW | Fixed 4.182% | Semi-Annual | Semi-Annual | Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(21246) | &nbsp;&nbsp;&nbsp;(21246) |
| Centrally cleared | 2298720000 | KRW | KRW CD KSDA Bloomberg | Fixed 3.160% | Quarterly | Quarterly | Mar 2031 | &nbsp;&nbsp;&nbsp;&nbsp;(956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(802) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;10650000 | CNY | Fixed 1.592% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Mar 2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;17400000 | AUD | AUD BBR BBSW | Fixed 4.530% | Semi-Annual | Semi-Annual | Mar 2031 | &nbsp;&nbsp;&nbsp;6449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4413 | &nbsp;&nbsp;&nbsp;&nbsp;10862 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;10575000 | CNY | Fixed 1.631% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Mar 2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2612) | &nbsp;&nbsp;&nbsp;&nbsp;(2612) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;10575000 | CNY | Fixed 1.629% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Mar 2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2468) | &nbsp;&nbsp;&nbsp;&nbsp;(2468) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;21190000 | NOK | NOK NIBOR NIBR | Fixed 4.190% | Annual | Semi-Annual | Mar 2036 | &nbsp;&nbsp;&nbsp;6015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7027 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250000 | PLN | Fixed 4.380% | PLN WIBOR WIBO | Annual | Semi-Annual | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(13703) | &nbsp;&nbsp;&nbsp;(13703) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;35490000 | THB | Fixed 1.739% | THB THOR Compounded OIS | Quarterly | Quarterly | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(11370) | &nbsp;&nbsp;&nbsp;(11370) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;38710000 | HUF | Fixed 6.793% | HUF BUBOR Reuters | Annual | Semi-Annual | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2399) | &nbsp;&nbsp;&nbsp;&nbsp;(2399) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5650000 | ILS | Fixed 3.960% | ILS SHIR Compounded OIS | Annual | Annual | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(11181) | &nbsp;&nbsp;&nbsp;(11181) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;17310000 | THB | Fixed 1.683% | THB THOR Compounded OIS | Quarterly | Quarterly | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2711) | &nbsp;&nbsp;&nbsp;&nbsp;(2711) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;17310000 | THB | Fixed 1.681% | THB THOR Compounded OIS | Quarterly | Quarterly | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2610) | &nbsp;&nbsp;&nbsp;&nbsp;(2610) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;46280000 | THB | Fixed 1.730% | THB THOR Compounded OIS | Quarterly | Quarterly | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(13620) | &nbsp;&nbsp;&nbsp;(13620) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9145000 | ZAR | Fixed 7.516% | ZAR JIBAR SAFEX | Quarterly | Quarterly | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2497) | &nbsp;&nbsp;&nbsp;&nbsp;(2497) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8220000 | ZAR | Fixed 7.516% | ZAR JIBAR SAFEX | Quarterly | Quarterly | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2245) | &nbsp;&nbsp;&nbsp;&nbsp;(2245) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;13050000 | THB | Fixed 1.730% | THB THOR Compounded OIS | Quarterly | Quarterly | Mar 2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3840) | &nbsp;&nbsp;&nbsp;&nbsp;(3840) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280000 | USD | USD Compounded SOFR | Fixed 3.970% | Annual | Annual | Dec 2055 | &nbsp;&nbsp;(2719) | &nbsp;&nbsp;&nbsp;(72111) | &nbsp;&nbsp;&nbsp;(74830) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550000 | EUR | EUR EURIBOR Reuters | Fixed 3.405% | Annual | Semi-Annual | Mar 2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1087) | &nbsp;&nbsp;&nbsp;&nbsp;(1087) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030000 | EUR | EUR EURIBOR Reuters | Fixed 3.398% | Annual | Semi-Annual | Mar 2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1301) | &nbsp;&nbsp;&nbsp;&nbsp;(1301) |
|  |  |  |  |  |  |  |  | **$10343** | **$(266781)** | **$(256438)** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;$260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;$4251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$44 | &nbsp;&nbsp;&nbsp;$4295 |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;4303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) | &nbsp;&nbsp;&nbsp;&nbsp;4295 |
| BARC | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;6218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116) | &nbsp;&nbsp;&nbsp;&nbsp;6102 |
| BARC | &nbsp;&nbsp;Republic of Colombia | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;11438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487 | &nbsp;&nbsp;&nbsp;11925 |
| BARC | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;2030000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2030000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;(16805) | &nbsp;&nbsp;(12042) | &nbsp;&nbsp;(28847) |
| BARC | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;(2855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(698) | &nbsp;&nbsp;&nbsp;(3553) |
| BARC | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;(3638) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;(3458) |
| BARC | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;5811 | &nbsp;&nbsp;&nbsp;(1800) | &nbsp;&nbsp;&nbsp;&nbsp;4011 |
| BOA | &nbsp;&nbsp;Republic of the Philippines | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;(9311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(596) | &nbsp;&nbsp;&nbsp;(9907) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 76 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)**  | &nbsp;&nbsp;**Value** |
| BOA | &nbsp;&nbsp;Republic of Turkey | &nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$545000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;$33049 | &nbsp;&nbsp;&nbsp;&nbsp;$(8438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24611 |
| BOA | &nbsp;&nbsp;Republic of Turkey | &nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12193 |
| CITI | &nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103304 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1052) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(726) |
| CITI | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(415) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4295 |
| CITI | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(476) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6219 |
| CITI | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2131) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2641 |
| CITI | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2641 |
| CITI | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3779) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3458) |
| DB | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;2270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2270000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(31839) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31398) |
| DB | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3458) |
| GSI | &nbsp;&nbsp;Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16305 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56) |
| GSI | &nbsp;&nbsp;Emirate of Abu Dhabi | &nbsp;&nbsp;2230000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2230000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(71562) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2949) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74511) |
| GSI | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;1565000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1565000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25853 |
| GSI | &nbsp;&nbsp;Government of Malaysia | &nbsp;&nbsp;1990000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1990000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(50755) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5489) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56244) |
| GSI | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;2255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2255000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(46129) | &nbsp;&nbsp;&nbsp;&nbsp;(13601) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59730) |
| GSI | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5606) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1016) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6622) |
| GSI | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2810) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(743) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3553) |
| GSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;3160000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;3160000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95391 | &nbsp;&nbsp;&nbsp;&nbsp;(46638) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48753 |
| GSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011 |
| GSI | &nbsp;&nbsp;State of Qatar | &nbsp;&nbsp;2975000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2975000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(95469) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4155) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99624) |
| JPM | &nbsp;&nbsp;People's Republic of China | &nbsp;&nbsp;1985000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1985000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(53656) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51024) |
| JPM | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2957) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3624) |
| JPM | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4007) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3458) |
| JPM | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3458) |
| MSI | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;1580000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1580000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5965) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37082 |
| MSI | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;2365000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2365000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64434 | &nbsp;&nbsp;&nbsp;&nbsp;(40408) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24026 |
| MSI | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(696) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2641 |
| MSI | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(616) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2641 |
| MSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1763) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011 |
| MSI | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;1610000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1610000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1182) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8037) |
| MSI | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(916) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(357) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1273) |
| MSI | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1259) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1273) |
| MSI | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(685) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(588) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1273) |
| MSI | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1028) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(245) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1273) |
|  |  |  |  | &nbsp;&nbsp;**$34104609** |  |  |  | &nbsp;&nbsp;&nbsp;**$(68292)** | &nbsp;&nbsp;**$(159300)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(227592)** |
| Centrally cleared | &nbsp;&nbsp;CDX.EM.44 | &nbsp;&nbsp;7335000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;7335000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;174871 | &nbsp;&nbsp;&nbsp;&nbsp;(96958) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77913 |
| Centrally cleared | &nbsp;&nbsp;CDX.NA.HY.45 | &nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(52891) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1672) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54563) |
| Centrally cleared | &nbsp;&nbsp;CDX.NA.IG.45 | &nbsp;&nbsp;8985000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;8985000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;(197167) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9119) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(206286) |
| Centrally cleared | &nbsp;&nbsp;iTraxx Europe Crossover Series 44 Version 1 | &nbsp;&nbsp;3480000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;4070799 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;(419418) | &nbsp;&nbsp;&nbsp;&nbsp;(38780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(458198) |
| Centrally cleared | &nbsp;&nbsp;iTraxx Europe Series 44 Version 1 | &nbsp;&nbsp;8605000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;10003096 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;(218708) | &nbsp;&nbsp;&nbsp;&nbsp;(17708) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236416) |
| Centrally cleared | &nbsp;&nbsp;iTraxx Europe Sub Financials Series 44 Version 1 | &nbsp;&nbsp;4185000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;4870169 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1386) | &nbsp;&nbsp;&nbsp;&nbsp;(15351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16737) |
|  |  |  |  | &nbsp;&nbsp;**$35969064** |  |  |  | &nbsp;&nbsp;**$(714699)** | &nbsp;&nbsp;**$(179588)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(894287)** |
|  |  |  |  | &nbsp;&nbsp;**$70073673** |  |  |  | &nbsp;&nbsp;**$(782991)** | &nbsp;&nbsp;**$(338888)** | &nbsp;&nbsp;**$(1121879)** |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | **Reference<br> obligation** | **Implied<br> credit<br> spread** | **Notional<br> amount** | **Currency** | **USD<br> notional<br> amount** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment<br> paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | CDX.NA.HY.45 | 3.230% | 400000 | USD | $400000 | 5.000% | Quarterly | Dec 2030 | $28952 | $2006 | $30958 |
|  |  |  |  |  | **$400000** |  |  |  | **$28952** | **$2006** | **$30958** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 77 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** |
| **Pay/<br> receive<br> total<br> return\*** | &nbsp;&nbsp;**Reference<br> entity** | &nbsp;&nbsp;**Floating/<br> fixed<br> rate** | &nbsp;&nbsp;**Payment<br> frequency** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Counterparty<br> (OTC)** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1390000 | &nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;— | &nbsp;&nbsp;$(17573) | &nbsp;&nbsp;$(17573) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;915000 | &nbsp;&nbsp;Jun 2026 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;— | &nbsp;&nbsp;(2424) | &nbsp;&nbsp;(2424) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1720000 | &nbsp;&nbsp;Jun 2026 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;— | &nbsp;&nbsp;(6287) | &nbsp;&nbsp;(6287) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;14770000 | &nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(195224) | &nbsp;&nbsp;(195224) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid Investment Grade Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;4480000 | &nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;13728 | &nbsp;&nbsp;13728 |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1525000 | &nbsp;&nbsp;Jun 2026 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(4040) | &nbsp;&nbsp;(4040) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;Jun 2026 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(6870) | &nbsp;&nbsp;(6870) |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;**—** | &nbsp;&nbsp;**$(218690)** | &nbsp;&nbsp;**$(218690)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

\* Portfolio will pay or receive the total return of the reference asset depending on whether the return is positive or negative. For contracts where the portfolio has elected to receive the total return of the reference asset if positive, it will be responsible for paying the floating rate and the total return of the reference asset if negative. If the portfolio has elected to pay the total return of the reference asset if positive, it will receive the floating rate and the total return of the reference asset if negative. The total return of the reference asset is paid out at maturity while the floating rate is paid on a quarterly basis until maturity.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** |
| **Counterparty (OTC)/<br> Centrally<br> cleared** | **Notional<br> amount** | **Currency** | **USD notional<br> amount** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| BOA | 210000 | USD | $210000 | Fixed 1.635% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2050 |  | $46215 | $46215 |
| CITI | 1290000 | USD | 1290000 | Fixed 2.440% | USA CPI All Urban Consumers | At Maturity | At Maturity | Sep 2055 | $(3762) | 2140 | (1622) |
| JPM | 1700000 | USD | 1700000 | Fixed 1.830% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2050 | (35592) | 350416 | 314824 |
|  |  |  | **$3200000** |  |  |  |  |  | **$(39354)** | **$398771** | **$359417** |
| Centrally cleared | 3510000 | USD | 3510000 | USA CPI All Urban Consumers | Fixed 2.660% | At Maturity | At Maturity | Aug 2030 | (2743) | 39131 | 36388 |
| Centrally cleared | 3510000 | USD | 3510000 | Fixed 2.563% | USA CPI All Urban Consumers | At Maturity | At Maturity | Aug 2035 | 2467 | (40684) | (38217) |
|  |  |  | **$7020000** |  |  |  |  |  | **$(276)** | **$(1553)** | **$(1829)** |
|  |  |  | **$10220000** |  |  |  |  |  | **$(39630)** | **$397218** | **$357588** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 78 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| ARS | Argentine Peso |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CNY | Chinese Yuan Renminbi |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| DOP | Dominican Republic Peso |
| EGP | Egyptian Pound |
| EUR | Euro |
| GBP | Pound Sterling |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ILS | Israeli New Shekel |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Won |
| KZT | Kazakhstan Tenge |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NGN | Nigerian Naira |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| RSD | Serbian Dinar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Bhat |
| TRY | Turkish Lira |
| USD | U.S. Dollar |
| UYU | Uruguayan Peso |
| VND | Vietnamese Dong |
| ZAR | South African Rand |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 79 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| BARC | Barclays Bank PLC |
| BBR | Bank Bill Rate |
| BBSW | Bank Bill Swap Rate |
| BOA | Bank of America, N.A. |
| BUBOR | Budapest Interbank Offered Rate |
| CITI | Citibank, N.A. |
| CNREPOFIX | China Fixing Repo Rate |
| CPI | Consumer Price Index |
| DB | Deutsche Bank AG |
| EURIBOR | Euro Interbank Offered Rate |
| GSI | Goldman Sachs International |
| HSBC | HSBC Bank PLC |
| JIBAR | Johannesburg Interbank Agreed Rate |
| JPM | JPMorgan Chase Bank, N.A. |
| KSDA | Korea Securities Dealers Association |
| MSI | Morgan Stanley & Co. International PLC |
| NIBOR | Norwegian Interbank Offered Rate |
| OIS | Overnight Index Swap |
| OTC | Over-the-counter |
| SCB | Standard Chartered Bank |
| SHIR | Shekel Overnight Interest Rate |
| SOFR | Secured Overnight Financing Rate |
| SSB | State Street Bank and Trust Company |
| THOR | Thai Overnight Repurchase Rate |
| WIBOR | Warsaw Interbank Offered Rate |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Select Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 54.6%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 54.6%** |  |
| **U.S. Government – 15.7%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 08/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145252000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71417458 |
| &nbsp;&nbsp;&nbsp;1.625%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41560050 |
| &nbsp;&nbsp;&nbsp;2.000%, 02/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57169343 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41567000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29437879 |
| &nbsp;&nbsp;&nbsp;3.375%, 11/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41623000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32932573 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72597000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66539688 |
| &nbsp;&nbsp;&nbsp;4.750%, 08/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116463000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114497687 |
| &nbsp;&nbsp;&nbsp;4.875%, 08/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63881000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64499847 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8572000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8799694 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 11/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103597000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102552937 |
| &nbsp;&nbsp;&nbsp;3.625%, 12/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85012921 |
| &nbsp;&nbsp;&nbsp;3.875%, 12/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75881559 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/31/2031 to 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56952000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56222269 |
| &nbsp;&nbsp;&nbsp;4.125%, 07/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11428000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11613705 |
| &nbsp;&nbsp;&nbsp;4.250%, 06/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68881012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887018622 |
| **U.S. Government Agency – 38.9%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/01/2036 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61265361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51603646 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2051 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31063325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26732085 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2043 to 06/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98782460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89508708 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2044 to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134282960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125668028 |
| &nbsp;&nbsp;&nbsp;4.000%, 08/01/2037 to 04/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136497985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131314995 |
| &nbsp;&nbsp;&nbsp;4.500%, 12/01/2037 to 06/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91323666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90121634 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/01/2052 to 01/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211194190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212446773 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2053 to 09/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96345398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98830238 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/01/2036 to 02/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77147325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66684260 |

---

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2035 to 03/01/2052 | 186626273 | $&nbsp;&nbsp;&nbsp;&nbsp;163144884 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2033 to 05/01/2052 | 194349917 | &nbsp;&nbsp;&nbsp;&nbsp;175290735 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2042 to 08/01/2053 | 183614778 | &nbsp;&nbsp;&nbsp;&nbsp;171800988 |
| &nbsp;&nbsp;&nbsp;4.000%, 10/01/2037 to 10/01/2052 | 267961970 | &nbsp;&nbsp;&nbsp;&nbsp;258921676 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/01/2037 to 05/01/2053 | 286655501 | &nbsp;&nbsp;&nbsp;&nbsp;283013934 |
| &nbsp;&nbsp;&nbsp;5.000%, 09/01/2052 to 11/01/2054 | 143976676 | &nbsp;&nbsp;&nbsp;&nbsp;144873626 |
| &nbsp;&nbsp;&nbsp;5.500%, 12/01/2052 to 09/01/2055 | 107995830 | &nbsp;&nbsp;&nbsp;&nbsp;110644795 |
|  |  | 2200601005 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $3,171,612,247) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $3,171,612,247) | $3087619627 |
| **CORPORATE BONDS – 29.9%** | **CORPORATE BONDS – 29.9%** |  |
| **Communication services – 1.4%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 06/01/2031 | &nbsp;&nbsp;10797000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9915881 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2035 | &nbsp;&nbsp;&nbsp;3439000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3303421 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 | &nbsp;&nbsp;&nbsp;5948000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5352098 |
| &nbsp;&nbsp;&nbsp;6.384%, 10/23/2035 | &nbsp;&nbsp;&nbsp;9507000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9811753 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 11/15/2030 | &nbsp;&nbsp;&nbsp;6281000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6294273 |
| &nbsp;&nbsp;&nbsp;4.600%, 11/15/2032 | &nbsp;&nbsp;&nbsp;4187000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4220660 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/15/2055 | &nbsp;&nbsp;&nbsp;2422000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2324565 |
| Netflix, Inc.<br> 4.875%, 06/15/2030 (A) | &nbsp;&nbsp;&nbsp;5059000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5186620 |
| News Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 05/15/2029 (A) | &nbsp;&nbsp;&nbsp;3468000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3364885 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/15/2032 (A) | &nbsp;&nbsp;&nbsp;6439000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6346839 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 80 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| NTT Finance Corp.<br> 5.171%, 07/16/2032 (A) | $&nbsp;&nbsp;3568000 | $&nbsp;&nbsp;&nbsp;3660888 |
| T-Mobile USA, Inc.<br> 3.875%, 04/15/2030 | 16003000 | 15736949 |
| WMG Acquisition Corp.<br> 3.875%, 07/15/2030 (A) | &nbsp;&nbsp;4118000 | &nbsp;&nbsp;&nbsp;3949656 |
|  |  | 79468488 |
| **Consumer discretionary – 0.4%** |  |  |
| Flutter Treasury DAC<br> 5.875%, 06/04/2031 (A) | &nbsp;&nbsp;1880000 | &nbsp;&nbsp;&nbsp;1906132 |
| General Motors Financial Company, Inc.<br> 5.600%, 06/18/2031 | 14276000 | 14877694 |
| Hyundai Capital America<br> 5.400%, 01/08/2031 (A) | &nbsp;&nbsp;2564000 | &nbsp;&nbsp;&nbsp;2648202 |
| MercadoLibre, Inc.<br> 4.900%, 01/15/2033 | &nbsp;&nbsp;3657000 | &nbsp;&nbsp;&nbsp;3620754 |
| Royal Caribbean Cruises, Ltd.<br> 5.375%, 01/15/2036 | &nbsp;&nbsp;2004000 | &nbsp;&nbsp;&nbsp;2012392 |
|  |  | 25065174 |
| **Consumer staples – 0.6%** |  |  |
| Bimbo Bakeries USA, Inc.<br> 6.050%, 01/15/2029 (A) | &nbsp;&nbsp;4160000 | &nbsp;&nbsp;&nbsp;4349187 |
| JBS USA Lux SA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 | &nbsp;&nbsp;5259000 | &nbsp;&nbsp;&nbsp;4921227 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;5554000 | &nbsp;&nbsp;&nbsp;5802336 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/20/2035 (A) | &nbsp;&nbsp;1414000 | &nbsp;&nbsp;&nbsp;1486805 |
| Kenvue, Inc.<br> 4.850%, 05/22/2032 | &nbsp;&nbsp;6913000 | &nbsp;&nbsp;&nbsp;7069072 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, 03/01/2030 (A) | &nbsp;&nbsp;5094000 | &nbsp;&nbsp;&nbsp;5205878 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2032 (A) | &nbsp;&nbsp;3392000 | &nbsp;&nbsp;&nbsp;3496284 |
| Pilgrim's Pride Corp.<br> 6.250%, 07/01/2033 | &nbsp;&nbsp;3414000 | &nbsp;&nbsp;&nbsp;3649602 |
|  |  | 35980391 |
| **Energy – 3.5%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 07/15/2031 (A) | &nbsp;&nbsp;1302000 | &nbsp;&nbsp;&nbsp;1194693 |
| &nbsp;&nbsp;&nbsp;3.750%, 01/15/2030 (A) | &nbsp;&nbsp;1411000 | &nbsp;&nbsp;&nbsp;1364672 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2031 (A) | &nbsp;&nbsp;1997000 | &nbsp;&nbsp;&nbsp;1927683 |
| Antero Resources Corp.<br> 5.375%, 03/01/2030 (A) | &nbsp;&nbsp;6088000 | &nbsp;&nbsp;&nbsp;6172282 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/31/2032 | 12750000 | 11743187 |
| &nbsp;&nbsp;&nbsp;5.550%, 10/30/2035 (A) | &nbsp;&nbsp;2672000 | &nbsp;&nbsp;&nbsp;2731794 |
| &nbsp;&nbsp;&nbsp;5.950%, 06/30/2033 | &nbsp;&nbsp;5442000 | &nbsp;&nbsp;&nbsp;5770549 |
| Columbia Pipelines Holding<br> Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.999%, 11/17/2032 (A) | &nbsp;&nbsp;3813000 | &nbsp;&nbsp;&nbsp;3812660 |
| &nbsp;&nbsp;&nbsp;5.681%, 01/15/2034 (A) | &nbsp;&nbsp;7296000 | &nbsp;&nbsp;&nbsp;7517280 |
| Columbia Pipelines Operating Company LLC<br> 6.036%, 11/15/2033 (A) | &nbsp;&nbsp;4527000 | &nbsp;&nbsp;&nbsp;4845961 |
| Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 04/01/2032 (A) | &nbsp;&nbsp;3577000 | &nbsp;&nbsp;&nbsp;3121581 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2031 (A) | &nbsp;&nbsp;5044000 | &nbsp;&nbsp;&nbsp;5172043 |
| Devon Energy Corp.<br> 5.200%, 09/15/2034 (B) | &nbsp;&nbsp;4013000 | &nbsp;&nbsp;&nbsp;3995303 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 06/15/2031 (A) | &nbsp;&nbsp;9644000 | &nbsp;&nbsp;&nbsp;9441876 |
| &nbsp;&nbsp;&nbsp;5.800%, 12/15/2034 (A) | &nbsp;&nbsp;2130000 | &nbsp;&nbsp;&nbsp;2210503 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 7-15-30, then 5 Year CMT + 5.314% to 7-15-50, then 5 Year CMT + 6.064%), 07/15/2080 | $&nbsp;&nbsp;6888000 | $&nbsp;&nbsp;&nbsp;&nbsp;6953443 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-1-28, then 3 month CME Term SOFR + 3.903% to 3-1-48, then 3 month CME Term SOFR + 4.653%), 03/01/2078 | &nbsp;&nbsp;8184000 | &nbsp;&nbsp;&nbsp;&nbsp;8276880 |
| &nbsp;&nbsp;&nbsp;8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | &nbsp;&nbsp;3176000 | &nbsp;&nbsp;&nbsp;&nbsp;3641819 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2045 | &nbsp;&nbsp;3478000 | &nbsp;&nbsp;&nbsp;&nbsp;3074451 |
| &nbsp;&nbsp;&nbsp;5.600%, 09/01/2034 | &nbsp;&nbsp;3044000 | &nbsp;&nbsp;&nbsp;&nbsp;3132628 |
| Enterprise Products Operating LLC<br> 5.250%, (5.250% to 8-16-27, then 3 month CME Term SOFR + 3.295%), 08/16/2077 | &nbsp;&nbsp;9537000 | &nbsp;&nbsp;&nbsp;&nbsp;9520676 |
| Expand Energy Corp.<br> 4.750%, 02/01/2032 | &nbsp;&nbsp;6234000 | &nbsp;&nbsp;&nbsp;&nbsp;6149882 |
| Gulfstream Natural Gas System LLC<br> 5.600%, 07/23/2035 (A) | &nbsp;&nbsp;2224000 | &nbsp;&nbsp;&nbsp;&nbsp;2279409 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 09/01/2032 | &nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;3422969 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2033 | &nbsp;&nbsp;3412000 | &nbsp;&nbsp;&nbsp;&nbsp;3428034 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 01/01/2032 | &nbsp;&nbsp;2492000 | &nbsp;&nbsp;&nbsp;&nbsp;2551803 |
| &nbsp;&nbsp;&nbsp;6.450%, 09/15/2036 | &nbsp;&nbsp;8761000 | &nbsp;&nbsp;&nbsp;&nbsp;9336821 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2030 | &nbsp;&nbsp;2127000 | &nbsp;&nbsp;&nbsp;&nbsp;2289852 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 07/15/2033 | &nbsp;&nbsp;2314000 | &nbsp;&nbsp;&nbsp;&nbsp;2454505 |
| &nbsp;&nbsp;&nbsp;7.200%, 11/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;649000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716482 |
| Plains All American Pipeline LP<br> 4.700%, 01/15/2031 | &nbsp;&nbsp;1982000 | &nbsp;&nbsp;&nbsp;&nbsp;1993175 |
| Repsol E&P Capital Markets US LLC<br> 5.204%, 09/16/2030 (A) | &nbsp;&nbsp;1985000 | &nbsp;&nbsp;&nbsp;&nbsp;2013086 |
| Sabine Pass Liquefaction LLC<br> 4.500%, 05/15/2030 | 11259000 | &nbsp;&nbsp;&nbsp;11304581 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 02/15/2035 | &nbsp;&nbsp;3338000 | &nbsp;&nbsp;&nbsp;&nbsp;3419286 |
| &nbsp;&nbsp;&nbsp;6.150%, 03/01/2029 | &nbsp;&nbsp;3019000 | &nbsp;&nbsp;&nbsp;&nbsp;3178143 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | &nbsp;&nbsp;4143000 | &nbsp;&nbsp;&nbsp;&nbsp;3953229 |
| Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 05/22/2030 (A) | &nbsp;&nbsp;7896000 | &nbsp;&nbsp;&nbsp;&nbsp;8219041 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/15/2032 (A) | 11393000 | &nbsp;&nbsp;&nbsp;13039234 |
| Viper Energy Partners LLC<br> 4.900%, 08/01/2030 | &nbsp;&nbsp;1661000 | &nbsp;&nbsp;&nbsp;&nbsp;1680052 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;4.050%, 02/01/2030 | &nbsp;&nbsp;4954000 | &nbsp;&nbsp;&nbsp;&nbsp;4853336 |
| &nbsp;&nbsp;&nbsp;5.450%, 11/15/2034 | &nbsp;&nbsp;1952000 | &nbsp;&nbsp;&nbsp;&nbsp;1965992 |
| Whistler Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 09/30/2029 (A) | &nbsp;&nbsp;1920000 | &nbsp;&nbsp;&nbsp;&nbsp;1979281 |
| &nbsp;&nbsp;&nbsp;5.700%, 09/30/2031 (A) | &nbsp;&nbsp;2022000 | &nbsp;&nbsp;&nbsp;&nbsp;2098441 |
|  |  | 197948598 |
| **Financials – 12.5%** |  |  |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.548%, (5.548% to 7-31-32, then Overnight SOFR + 1.780%), 07/31/2033 | &nbsp;&nbsp;5437000 | &nbsp;&nbsp;&nbsp;&nbsp;5476802 |
| &nbsp;&nbsp;&nbsp;5.737%, (5.737% to 5-15-28, then SOFR Compouned Index + 1.960%), 05/15/2029 | &nbsp;&nbsp;2565000 | &nbsp;&nbsp;&nbsp;&nbsp;2630125 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 81 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Ally Financial, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.184%, (6.184% to 7-26-34, then Overnight SOFR + 2.290%), 07/26/2035 | $&nbsp;&nbsp;3319000 | $&nbsp;&nbsp;&nbsp;3439810 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/01/2031 | &nbsp;&nbsp;4521000 | &nbsp;&nbsp;&nbsp;5131361 |
| Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;6.700%, 07/29/2031 | &nbsp;&nbsp;3921000 | &nbsp;&nbsp;&nbsp;4137398 |
| &nbsp;&nbsp;&nbsp;6.900%, 04/13/2029 | &nbsp;&nbsp;1216000 | &nbsp;&nbsp;&nbsp;1275011 |
| Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 01/15/2031 (A) | &nbsp;&nbsp;5144000 | &nbsp;&nbsp;&nbsp;5047929 |
| &nbsp;&nbsp;&nbsp;5.450%, 09/09/2028 (A) | &nbsp;&nbsp;1775000 | &nbsp;&nbsp;&nbsp;1789837 |
| &nbsp;&nbsp;&nbsp;5.600%, 02/15/2030 | &nbsp;&nbsp;3504000 | &nbsp;&nbsp;&nbsp;3519508 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;254000 | &nbsp;&nbsp;&nbsp;&nbsp;257330 |
| &nbsp;&nbsp;&nbsp;5.800%, 09/09/2030 (A) | &nbsp;&nbsp;4605000 | &nbsp;&nbsp;&nbsp;4649589 |
| &nbsp;&nbsp;&nbsp;6.200%, 03/21/2032 | &nbsp;&nbsp;2967000 | &nbsp;&nbsp;&nbsp;3042728 |
| &nbsp;&nbsp;&nbsp;6.350%, 08/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;868000 | &nbsp;&nbsp;&nbsp;&nbsp;893153 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;4.721%, 10/08/2029 (A) | &nbsp;&nbsp;3479000 | &nbsp;&nbsp;&nbsp;3479224 |
| &nbsp;&nbsp;&nbsp;5.322%, 11/13/2031 (A) | &nbsp;&nbsp;4128000 | &nbsp;&nbsp;&nbsp;4185077 |
| Athene Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 01/15/2031 | 11755000 | 11106129 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 10-15-34, then 5 Year CMT + 2.607%), 10/15/2054 | &nbsp;&nbsp;2418000 | &nbsp;&nbsp;&nbsp;2413416 |
| Atlas Warehouse Lending Company LP<br> 6.250%, 01/15/2030 (A) | &nbsp;&nbsp;3422000 | &nbsp;&nbsp;&nbsp;3602753 |
| Banco Santander SA<br> 4.551%, 11/06/2030 | &nbsp;&nbsp;6400000 | &nbsp;&nbsp;&nbsp;6406787 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.592%, (2.592% to 4-29-30, then Overnight SOFR + 2.150%), 04/29/2031 | &nbsp;&nbsp;9261000 | &nbsp;&nbsp;&nbsp;8629222 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then Overnight SOFR + 1.320%), 04/22/2032 | 15228000 | 13974037 |
| &nbsp;&nbsp;&nbsp;4.571%, (4.571% to 4-27-32, then Overnight SOFR + 1.830%), 04/27/2033 | 15672000 | 15633600 |
| &nbsp;&nbsp;&nbsp;5.425%, (5.425% to 8-15-34, then Overnight SOFR + 1.913%), 08/15/2035 | 12552000 | 12837255 |
| &nbsp;&nbsp;&nbsp;5.518%, (5.518% to 10-25-34, then Overnight SOFR + 1.738%), 10/25/2035 | &nbsp;&nbsp;1674000 | &nbsp;&nbsp;&nbsp;1714547 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 5-1-30, then 5 Year CMT + 2.684%), 05/01/2030 (C) | &nbsp;&nbsp;8168000 | &nbsp;&nbsp;&nbsp;8510656 |
| Bank of Montreal<br> 7.700%, (7.700% to 5-26-29, then 5 Year CMT + 3.452%), 05/26/2084 | &nbsp;&nbsp;7283000 | &nbsp;&nbsp;&nbsp;7732425 |
| Barclays PLC<br> 5.690%, (5.690% to 3-12-29, then Overnight SOFR + 1.740%), 03/12/2030 | 15692000 | 16329305 |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 09/10/2030 | &nbsp;&nbsp;4139000 | &nbsp;&nbsp;&nbsp;4076082 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2030 | &nbsp;&nbsp;3644000 | &nbsp;&nbsp;&nbsp;3616866 |
| &nbsp;&nbsp;&nbsp;5.950%, 07/16/2029 | &nbsp;&nbsp;2529000 | &nbsp;&nbsp;&nbsp;2580286 |
| &nbsp;&nbsp;&nbsp;7.300%, 11/27/2028 | &nbsp;&nbsp;2396000 | &nbsp;&nbsp;&nbsp;2541506 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;5.497%, (5.497% to 5-20-29, then Overnight SOFR + 1.590%), 05/20/2030 (A) | &nbsp;&nbsp;6675000 | &nbsp;&nbsp;&nbsp;6905023 |
| &nbsp;&nbsp;&nbsp;8.000%, (8.000% to 8-22-31, then 5 Year CMT + 3.727%), 08/22/2031 (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;368000 | &nbsp;&nbsp;&nbsp;&nbsp;397102 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| BNP Paribas SA (continued) |  |  |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-17-27, then 5 Year CMT + 4.969%), 11/17/2027 (A)(C) | $&nbsp;&nbsp;1647000 | $&nbsp;&nbsp;&nbsp;1756820 |
| BPCE SA<br> 5.936%, (5.936% to 5-30-24, then Overnight SOFR + 1.850%), 05/30/2035 (A) | &nbsp;&nbsp;4316000 | &nbsp;&nbsp;&nbsp;4501008 |
| Brookfield Finance, Inc.<br> 6.300%, (6.300% to 10-15-34, then 5 Year CMT + 2.076%), 01/15/2055 | &nbsp;&nbsp;4318000 | &nbsp;&nbsp;&nbsp;4278484 |
| Cantor Fitzgerald LP<br> 7.200%, 12/12/2028 (A) | &nbsp;&nbsp;9542000 | 10136084 |
| Capital One Financial Corp.<br> 6.700%, 11/29/2032 | &nbsp;&nbsp;6707000 | &nbsp;&nbsp;&nbsp;7422575 |
| Citadel Finance LLC<br> 5.900%, 02/10/2030 (A) | &nbsp;&nbsp;3312000 | &nbsp;&nbsp;&nbsp;3381191 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.561%, (2.561% to 5-1-31, then Overnight SOFR + 1.167%), 05/01/2032 | &nbsp;&nbsp;5665000 | &nbsp;&nbsp;&nbsp;5141139 |
| &nbsp;&nbsp;&nbsp;6.174%, (6.174% to 5-25-33, then Overnight SOFR + 2.661%), 05/25/2034 | &nbsp;&nbsp;6377000 | &nbsp;&nbsp;&nbsp;6772281 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 04/30/2030 | &nbsp;&nbsp;1035000 | &nbsp;&nbsp;&nbsp;&nbsp;987875 |
| &nbsp;&nbsp;&nbsp;5.253%, (5.253% to 3-5-30, then Overnight SOFR + 1.259%), 03/05/2031 | &nbsp;&nbsp;4252000 | &nbsp;&nbsp;&nbsp;4369131 |
| &nbsp;&nbsp;&nbsp;5.718%, (5.718% to 7-23-31, then Overnight SOFR + 1.910%), 07/23/2032 | &nbsp;&nbsp;9251000 | &nbsp;&nbsp;&nbsp;9698829 |
| &nbsp;&nbsp;&nbsp;6.645%, (6.645% to 4-25-34, then Overnight SOFR + 2.325%), 04/25/2035 | &nbsp;&nbsp;3806000 | &nbsp;&nbsp;&nbsp;4184968 |
| CNO Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/30/2029 | &nbsp;&nbsp;7460000 | &nbsp;&nbsp;&nbsp;7568007 |
| &nbsp;&nbsp;&nbsp;6.450%, 06/15/2034 | &nbsp;&nbsp;6191000 | &nbsp;&nbsp;&nbsp;6549715 |
| CNO Global Funding<br> 4.700%, 12/11/2030 (A) | &nbsp;&nbsp;2080000 | &nbsp;&nbsp;&nbsp;2082669 |
| Comerica, Inc.<br> 5.982%, (5.982% to 1-30-29, then Overnight SOFR + 2.155%), 01/30/2030 | &nbsp;&nbsp;3333000 | &nbsp;&nbsp;&nbsp;3477045 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/14/2030 (A) | 10291000 | &nbsp;&nbsp;&nbsp;9781952 |
| &nbsp;&nbsp;&nbsp;5.862%, (5.862% to 1-9-35, then Overnight SOFR + 1.740%), 01/09/2036 (A) | &nbsp;&nbsp;5525000 | &nbsp;&nbsp;&nbsp;5827856 |
| &nbsp;&nbsp;&nbsp;6.316%, (6.316% to 10-3-28, then Overnight SOFR + 1.860%), 10/03/2029 (A) | &nbsp;&nbsp;5562000 | &nbsp;&nbsp;&nbsp;5861982 |
| Danske Bank A/S<br> 5.019%, (5.019% to 3-4-30, then 1 Year CMT + 0.930%), 03/04/2031 (A) | &nbsp;&nbsp;5425000 | &nbsp;&nbsp;&nbsp;5540282 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;4.469%, (4.469% to 12-10-30, then Overnight SOFR + 1.100%), 12/10/2031 | &nbsp;&nbsp;1691000 | &nbsp;&nbsp;&nbsp;1685242 |
| &nbsp;&nbsp;&nbsp;4.950%, (4.950% to 8-4-30, then Overnight SOFR + 1.300%), 08/04/2031 | &nbsp;&nbsp;4259000 | &nbsp;&nbsp;&nbsp;4302057 |
| &nbsp;&nbsp;&nbsp;5.297%, (5.297% to 5-9-30, then Overnight SOFR + 1.720%), 05/09/2031 | &nbsp;&nbsp;3641000 | &nbsp;&nbsp;&nbsp;3730446 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 82 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Deutsche Bank AG (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.819%, (6.819% to 11-20-28, then Overnight SOFR + 2.510%), 11/20/2029 | $3804000 | $4056175 |
| Enact Holdings, Inc.<br> 6.250%, 05/28/2029 | 5682000 | 5946734 |
| F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 10/04/2034 | 6018000 | 6121908 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/04/2029 | 2989000 | 3113882 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;4.772%, (4.772% to 7-28-29, then SOFR Compounded Index + 2.127%), 07/28/2030 | 2420000 | 2448995 |
| &nbsp;&nbsp;&nbsp;5.631%, (5.631% to 1-29-31, then Overnight SOFR + 1.840%), 01/29/2032 | 4235000 | 4445001 |
| First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.231%, (5.231% to 3-12-30, then Overnight SOFR + 1.410%), 03/12/2031 | 5649000 | 5734905 |
| &nbsp;&nbsp;&nbsp;5.600%, (5.600% to 9-5-30, then 5 Year CMT + 1.850%), 09/05/2035 | 5187000 | 5177979 |
| First Horizon Corp.<br> 5.514%, (5.514% to 3-7-30, then Overnight SOFR + 1.766%), 03/07/2031 | 3392000 | 3503930 |
| GA Global Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/18/2030 (A) | 6157000 | 6083459 |
| &nbsp;&nbsp;&nbsp;5.200%, 12/09/2031 (A) | 4053000 | 4113521 |
| HPS Corporate Lending Fund<br> 5.950%, 04/14/2032 | 3441000 | 3490492 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.272%, (5.272% to 1-15-30, then Overnight SOFR + 1.276%), 01/15/2031 | 3485000 | 3585898 |
| &nbsp;&nbsp;&nbsp;6.141%, (6.141% to 11-18-34, then 5 Year CMT + 1.700%), 11/18/2039 | 1808000 | 1884052 |
| &nbsp;&nbsp;&nbsp;6.208%, (6.208% to 8-21-28, then Overnight SOFR + 2.020%), 08/21/2029 | 2457000 | 2576911 |
| ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;5.335%, (5.335% to 3-19-29, then Overnight SOFR + 1.440%), 03/19/2030 | 1634000 | 1685497 |
| &nbsp;&nbsp;&nbsp;6.114%, (6.114% to 9-11-33, then Overnight SOFR + 2.090%), 09/11/2034 | 2482000 | 2681646 |
| Jefferies Financial Group, Inc.<br> 6.200%, 04/14/2034 | 4595000 | 4849546 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then Overnight SOFR + 2.040%), 04/22/2031 | 2662000 | 2479725 |
| &nbsp;&nbsp;&nbsp;4.603%, (4.603% to 10-22-29, then Overnight SOFR + 1.040%), 10/22/2030 | 5672000 | 5751638 |
| &nbsp;&nbsp;&nbsp;4.995%, (4.995% to 7-22-29, then Overnight SOFR + 1.125%), 07/22/2030 | 5767000 | 5920612 |
| &nbsp;&nbsp;&nbsp;5.012%, (5.012% to 1-23-29, then Overnight SOFR + 1.310%), 01/23/2030 | 6182000 | 6334695 |
| &nbsp;&nbsp;&nbsp;5.294%, (5.294% to 7-22-34, then Overnight SOFR + 1.460%), 07/22/2035 | 8146000 | 8404081 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| JPMorgan Chase & Co. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.576%, (5.576% to 7-23-35, then Overnight SOFR + 1.635%), 07/23/2036 | $13595000 | $14063333 |
| &nbsp;&nbsp;&nbsp;5.581%, (5.581% to 4-22-29, then Overnight SOFR + 1.160%), 04/22/2030 | &nbsp;&nbsp;3242000 | &nbsp;&nbsp;&nbsp;3382143 |
| KeyBank NA<br> 5.000%, 01/26/2033 | &nbsp;&nbsp;5744000 | &nbsp;&nbsp;&nbsp;5801535 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;5.121%, (5.121% to 4-4-30, then SOFR Compounded Index + 1.227%), 04/04/2031 | &nbsp;&nbsp;5332000 | &nbsp;&nbsp;&nbsp;5476038 |
| &nbsp;&nbsp;&nbsp;6.401%, (6.401% to 3-6-34, then SOFR Compounded Index + 2.420%), 03/06/2035 | &nbsp;&nbsp;1989000 | &nbsp;&nbsp;&nbsp;2160442 |
| Lazard Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 03/11/2029 | &nbsp;&nbsp;4073000 | &nbsp;&nbsp;&nbsp;4080746 |
| &nbsp;&nbsp;&nbsp;6.000%, 03/15/2031 | &nbsp;&nbsp;3245000 | &nbsp;&nbsp;&nbsp;3434641 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;6.068%, (6.068% to 6-13-35, then 1 Year CMT + 1.600%), 06/13/2036 | &nbsp;&nbsp;3363000 | &nbsp;&nbsp;&nbsp;3536209 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 9-27-35, then 5 Year CMT + 2.681%), 09/27/2035 (C) | &nbsp;&nbsp;3810000 | &nbsp;&nbsp;&nbsp;3803690 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 9-27-31, then 5 Year CMT + 3.150%), 09/27/2031 (B)(C) | &nbsp;&nbsp;2302000 | &nbsp;&nbsp;&nbsp;2384264 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, (5.125% to 11-1-26, then 3 month CME Term SOFR + 3.782%), 11/01/2026 (C) | &nbsp;&nbsp;4011000 | &nbsp;&nbsp;&nbsp;4003962 |
| &nbsp;&nbsp;&nbsp;5.179%, (5.179% to 7-8-30, then Overnight SOFR + 1.400%), 07/08/2031 | &nbsp;&nbsp;2742000 | &nbsp;&nbsp;&nbsp;2815004 |
| &nbsp;&nbsp;&nbsp;5.385%, (5.385% to 1-16-35, then Overnight SOFR + 1.610%), 01/16/2036 | &nbsp;&nbsp;4642000 | &nbsp;&nbsp;&nbsp;4716979 |
| &nbsp;&nbsp;&nbsp;5.400%, (5.400% to 7-30-30, then 5 Year CMT + 1.430%), 07/30/2035 | &nbsp;&nbsp;4950000 | &nbsp;&nbsp;&nbsp;4998826 |
| Macquarie Bank, Ltd.<br> 3.624%, 06/03/2030 (A) | &nbsp;&nbsp;4283000 | &nbsp;&nbsp;&nbsp;4097049 |
| MassMutual Global Funding II<br> 4.350%, 09/17/2031 (A) | &nbsp;&nbsp;4274000 | &nbsp;&nbsp;&nbsp;4233666 |
| MetLife, Inc.<br> 6.400%, (6.400% to 12-15-36, then 3 month CME Term SOFR + 2.467%), 12/15/2036 | &nbsp;&nbsp;4716000 | &nbsp;&nbsp;&nbsp;4947967 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then Overnight SOFR + 1.178%), 07/21/2032 | &nbsp;&nbsp;2499000 | &nbsp;&nbsp;&nbsp;2220581 |
| &nbsp;&nbsp;&nbsp;2.484%, (2.484% to 9-16-31, then Overnight SOFR + 1.360%), 09/16/2036 | &nbsp;&nbsp;9696000 | &nbsp;&nbsp;&nbsp;8525823 |
| &nbsp;&nbsp;&nbsp;5.173%, (5.173% to 1-16-29, then Overnight SOFR + 1.450%), 01/16/2030 | &nbsp;&nbsp;9578000 | &nbsp;&nbsp;&nbsp;9832454 |
| &nbsp;&nbsp;&nbsp;5.320%, (5.320% to 7-19-34, then Overnight SOFR + 1.555%), 07/19/2035 | &nbsp;&nbsp;6945000 | &nbsp;&nbsp;&nbsp;7149195 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;7.300%, (7.300% to 5-19-35, then 5 Year CMT + 2.937%), 11/19/2034 (C) | &nbsp;&nbsp;5028000 | &nbsp;&nbsp;&nbsp;5333748 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 83 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| NatWest Group PLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;8.125%, (8.125% to 5-10-34, then 5 Year CMT + 3.752%), 11/10/2033 (C) | $&nbsp;&nbsp;7912000 | $&nbsp;&nbsp;&nbsp;8902116 |
| NMI Holdings, Inc.<br> 6.000%, 08/15/2029 | &nbsp;&nbsp;5245000 | &nbsp;&nbsp;&nbsp;5431093 |
| Nordea Bank ABP<br> 6.300%, (6.300% to 3-25-32, then 5 Year CMT + 2.660%), 09/25/2031 (A)(B)(C) | &nbsp;&nbsp;8181000 | &nbsp;&nbsp;&nbsp;8356180 |
| Radian Group, Inc.<br> 6.200%, 05/15/2029 | &nbsp;&nbsp;7871000 | &nbsp;&nbsp;&nbsp;8251468 |
| Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.502%, (5.502% to 9-6-34, then Overnight SOFR + 2.060%), 09/06/2035 | 10439000 | 10752652 |
| &nbsp;&nbsp;&nbsp;5.722%, (5.722% to 6-6-29, then Overnight SOFR + 1.490%), 06/06/2030 | &nbsp;&nbsp;2506000 | &nbsp;&nbsp;&nbsp;2612571 |
| Reinsurance Group of America, Inc.<br> 6.650%, (6.650% to 9-15-35, then 5 Year CMT + 2.392%), 09/15/2055 | &nbsp;&nbsp;2372000 | &nbsp;&nbsp;&nbsp;2450980 |
| Royal Bank of Canada<br> 6.500%, (6.500% to 11-24-35, then 5 Year CMT + 2.462%), 11/24/2085 | &nbsp;&nbsp;8023000 | &nbsp;&nbsp;&nbsp;7990331 |
| Simmons First National Corp.<br> 6.250%, (6.250% to 10-1-30, then 3 month CME Term SOFR + 3.020%), 10/01/2035 | &nbsp;&nbsp;4867000 | &nbsp;&nbsp;&nbsp;4899813 |
| Sixth Street Lending Partners |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2030 | &nbsp;&nbsp;1435000 | &nbsp;&nbsp;&nbsp;1454158 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/15/2030 | &nbsp;&nbsp;1303000 | &nbsp;&nbsp;&nbsp;1337335 |
| Synovus Bank<br> 5.957%, (5.957% to 1-15-31, then 5 Year CMT + 2.300%), 01/15/2036 | &nbsp;&nbsp;1783000 | &nbsp;&nbsp;&nbsp;1792895 |
| Teachers Insurance & Annuity Association of America<br> 4.270%, 05/15/2047 (A) | &nbsp;&nbsp;7843000 | &nbsp;&nbsp;&nbsp;6437081 |
| The Bank of New York Mellon Corp.<br> 4.942%, (4.942% to 2-11-30, then Overnight SOFR + 0.887%), 02/11/2031 | &nbsp;&nbsp;3287000 | &nbsp;&nbsp;&nbsp;3380001 |
| The Goldman Sachs Group, Inc.<br> 2.615%, (2.615% to 4-22-31, then Overnight SOFR + 1.281%), 04/22/2032 | 15280000 | 13932502 |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.812%, (4.812% to 10-21-31, then Overnight SOFR + 1.259%), 10/21/2032 | &nbsp;&nbsp;5467000 | &nbsp;&nbsp;&nbsp;5563630 |
| &nbsp;&nbsp;&nbsp;5.575%, (5.575% to 1-29-35, then Overnight SOFR + 1.394%), 01/29/2036 | &nbsp;&nbsp;4018000 | &nbsp;&nbsp;&nbsp;4189250 |
| &nbsp;&nbsp;&nbsp;5.939%, (5.939% to 8-18-33, then Overnight SOFR + 1.946%), 08/18/2034 | &nbsp;&nbsp;3752000 | &nbsp;&nbsp;&nbsp;4028077 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-15-30, then 7 Year CMT + 2.808%), 03/15/2030 (C) | &nbsp;&nbsp;3312000 | &nbsp;&nbsp;&nbsp;3419262 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.153%, (5.153% to 8-5-31, then Overnight SOFR + 1.571%), 08/05/2032 | &nbsp;&nbsp;5528000 | &nbsp;&nbsp;&nbsp;5706832 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Truist Financial Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.867%, (5.867% to 6-8-33, then Overnight SOFR + 2.361%), 06/08/2034 | $12193000 | $&nbsp;&nbsp;&nbsp;12974509 |
| &nbsp;&nbsp;&nbsp;6.123%, (6.123% to 10-28-32, then Overnight SOFR + 2.300%), 10/28/2033 | &nbsp;&nbsp;3786000 | &nbsp;&nbsp;&nbsp;&nbsp;4090821 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;4.839%, (4.839% to 2-1-33, then Overnight SOFR + 1.600%), 02/01/2034 | &nbsp;&nbsp;5850000 | &nbsp;&nbsp;&nbsp;&nbsp;5892982 |
| &nbsp;&nbsp;&nbsp;5.083%, (5.083% to 5-15-30, then Overnight SOFR + 1.296%), 05/15/2031 | &nbsp;&nbsp;3880000 | &nbsp;&nbsp;&nbsp;&nbsp;3999475 |
| &nbsp;&nbsp;&nbsp;5.384%, (5.384% to 1-23-29, then Overnight SOFR + 1.560%), 01/23/2030 | &nbsp;&nbsp;2246000 | &nbsp;&nbsp;&nbsp;&nbsp;2326152 |
| &nbsp;&nbsp;&nbsp;5.836%, (5.836% to 6-10-33, then Overnight SOFR + 2.260%), 06/12/2034 | &nbsp;&nbsp;5750000 | &nbsp;&nbsp;&nbsp;&nbsp;6134623 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;5.428%, (5.428% to 2-8-29, then 1 Year CMT + 1.520%), 02/08/2030 (A) | &nbsp;&nbsp;3698000 | &nbsp;&nbsp;&nbsp;&nbsp;3824557 |
| &nbsp;&nbsp;&nbsp;6.301%, (6.301% to 9-22-33, then 1 Year CMT + 2.000%), 09/22/2034 (A) | &nbsp;&nbsp;3758000 | &nbsp;&nbsp;&nbsp;&nbsp;4099409 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 8-10-30, then 5 Year SOFR ICE Swap Rate + 3.077%), 02/10/2030 (A)(C) | &nbsp;&nbsp;2772000 | &nbsp;&nbsp;&nbsp;&nbsp;2832712 |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 2-10-35, then 5 Year SOFR ICE Swap Rate + 3.179%), 08/10/2034 (A)(C) | &nbsp;&nbsp;3674000 | &nbsp;&nbsp;&nbsp;&nbsp;3764985 |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-13-33, then 5 Year CMT + 4.758%), 11/13/2033 (A)(C) | &nbsp;&nbsp;3733000 | &nbsp;&nbsp;&nbsp;&nbsp;4377902 |
| Webster Financial Corp.<br> 5.784%, (5.784% to 9-11-30, then 5 Year CMT + 2.125%), 09/11/2035 | &nbsp;&nbsp;1983000 | &nbsp;&nbsp;&nbsp;&nbsp;1981815 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then Overnight SOFR + 1.500%), 03/02/2033 | 17039000 | &nbsp;&nbsp;&nbsp;15903126 |
| &nbsp;&nbsp;&nbsp;5.211%, (5.211% to 12-3-34, then Overnight SOFR + 1.380%), 12/03/2035 | &nbsp;&nbsp;4297000 | &nbsp;&nbsp;&nbsp;&nbsp;4389519 |
| &nbsp;&nbsp;&nbsp;5.244%, (5.244% to 1-24-30, then Overnight SOFR + 1.110%), 01/24/2031 | &nbsp;&nbsp;3556000 | &nbsp;&nbsp;&nbsp;&nbsp;3682309 |
| &nbsp;&nbsp;&nbsp;6.491%, (6.491% to 10-23-33, then Overnight SOFR + 2.060%), 10/23/2034 | &nbsp;&nbsp;7675000 | &nbsp;&nbsp;&nbsp;&nbsp;8495795 |
|  |  | 708048012 |
| **Health care – 1.8%** |  |  |
| AbbVie, Inc.<br> 5.050%, 03/15/2034 | &nbsp;&nbsp;2015000 | &nbsp;&nbsp;&nbsp;&nbsp;2070788 |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2033 | 17631000 | &nbsp;&nbsp;&nbsp;18250929 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/02/2053 | &nbsp;&nbsp;6451000 | &nbsp;&nbsp;&nbsp;&nbsp;6316804 |
| Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;501000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502232 |
| &nbsp;&nbsp;&nbsp;4.900%, 12/15/2030 | &nbsp;&nbsp;1504000 | &nbsp;&nbsp;&nbsp;&nbsp;1515516 |
| Cencora, Inc.<br> 2.800%, 05/15/2030 | &nbsp;&nbsp;4627000 | &nbsp;&nbsp;&nbsp;&nbsp;4355585 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 84 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| CVS Health Corp.<br> 5.000%, 09/15/2032 | $&nbsp;&nbsp;2517000 | $&nbsp;&nbsp;&nbsp;&nbsp;2569028 |
| Fresenius Medical Care US Finance<br> III, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 02/16/2031 (A) | &nbsp;&nbsp;9496000 | &nbsp;&nbsp;&nbsp;&nbsp;8435137 |
| &nbsp;&nbsp;&nbsp;3.750%, 06/15/2029 (A) | &nbsp;&nbsp;5488000 | &nbsp;&nbsp;&nbsp;&nbsp;5354954 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 11/15/2030 | &nbsp;&nbsp;1705000 | &nbsp;&nbsp;&nbsp;&nbsp;1698555 |
| &nbsp;&nbsp;&nbsp;4.600%, 11/15/2032 | &nbsp;&nbsp;2622000 | &nbsp;&nbsp;&nbsp;&nbsp;2598255 |
| &nbsp;&nbsp;&nbsp;5.450%, 04/01/2031 | &nbsp;&nbsp;4457000 | &nbsp;&nbsp;&nbsp;&nbsp;4651766 |
| IQVIA, Inc.<br> 6.250%, 02/01/2029 | &nbsp;&nbsp;2930000 | &nbsp;&nbsp;&nbsp;&nbsp;3088567 |
| Pfizer Investment Enterprises Pte, Ltd.<br> 4.750%, 05/19/2033 | &nbsp;&nbsp;5425000 | &nbsp;&nbsp;&nbsp;&nbsp;5482524 |
| Regeneron Pharmaceuticals, Inc.<br> 1.750%, 09/15/2030 | 10161000 | &nbsp;&nbsp;&nbsp;&nbsp;9064803 |
| Roche Holdings, Inc.<br> 5.489%, 11/13/2030 (A) | &nbsp;&nbsp;5692000 | &nbsp;&nbsp;&nbsp;&nbsp;6031093 |
| Royalty Pharma PLC<br> 5.150%, 09/02/2029 | &nbsp;&nbsp;2910000 | &nbsp;&nbsp;&nbsp;&nbsp;2990571 |
| Solventum Corp.<br> 5.450%, 03/13/2031 | &nbsp;&nbsp;7602000 | &nbsp;&nbsp;&nbsp;&nbsp;7929805 |
| UnitedHealth Group, Inc.<br> 5.950%, 06/15/2055 | &nbsp;&nbsp;2527000 | &nbsp;&nbsp;&nbsp;&nbsp;2594699 |
| Universal Health Services, Inc.<br> 2.650%, 10/15/2030 | &nbsp;&nbsp;5928000 | &nbsp;&nbsp;&nbsp;&nbsp;5405975 |
|  |  | 100907586 |
| **Industrials – 2.3%** |  |  |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 01/30/2032 | 14669000 | &nbsp;&nbsp;&nbsp;13544173 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 1-31-31, then 5 Year CMT + 2.441%), 01/31/2056 | &nbsp;&nbsp;2957000 | &nbsp;&nbsp;&nbsp;&nbsp;3050095 |
| Air Canada 2015-2 Class AA Pass Through Trust<br> 3.750%, 12/15/2027 (A) | &nbsp;&nbsp;1304889 | &nbsp;&nbsp;&nbsp;&nbsp;1286530 |
| American Airlines 2016-1 Class A Pass Through Trust<br> 4.100%, 01/15/2028 | &nbsp;&nbsp;5415726 | &nbsp;&nbsp;&nbsp;&nbsp;5342175 |
| American Airlines 2017-1 Class A Pass Through Trust<br> 4.000%, 02/15/2029 | &nbsp;&nbsp;3397914 | &nbsp;&nbsp;&nbsp;&nbsp;3297365 |
| American Airlines 2017-1 Class AA Pass Through Trust<br> 3.650%, 02/15/2029 | &nbsp;&nbsp;2823219 | &nbsp;&nbsp;&nbsp;&nbsp;2772690 |
| American Airlines 2017-2 Class A Pass Through Trust<br> 3.600%, 10/15/2029 | &nbsp;&nbsp;3395172 | &nbsp;&nbsp;&nbsp;&nbsp;3235751 |
| American Airlines 2019-1 Class A Pass Through Trust<br> 3.500%, 02/15/2032 | &nbsp;&nbsp;5517829 | &nbsp;&nbsp;&nbsp;&nbsp;5093397 |
| American Airlines 2019-1 Class AA Pass Through Trust<br> 3.150%, 02/15/2032 | &nbsp;&nbsp;4346913 | &nbsp;&nbsp;&nbsp;&nbsp;4108739 |
| American Airlines 2021-1 Class A Pass Through Trust<br> 2.875%, 07/11/2034 | &nbsp;&nbsp;7313022 | &nbsp;&nbsp;&nbsp;&nbsp;6680009 |
| American Airlines 2021-1 Class B Pass Through Trust<br> 3.950%, 07/11/2030 | &nbsp;&nbsp;1509640 | &nbsp;&nbsp;&nbsp;&nbsp;1456023 |
| American Airlines 2025-1 Class A Pass Through Trust<br> 4.900%, 05/11/2038 | &nbsp;&nbsp;4914000 | &nbsp;&nbsp;&nbsp;&nbsp;4874364 |
| American Airlines 2025-1 Class B Pass Through Trust<br> 5.650%, 11/11/2034 | &nbsp;&nbsp;1718000 | &nbsp;&nbsp;&nbsp;&nbsp;1727808 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| Ashtead Capital, Inc.<br> 5.550%, 05/30/2033 (A) | $&nbsp;&nbsp;4798000 | $&nbsp;&nbsp;&nbsp;&nbsp;4950403 |
| BAE Systems PLC<br> 5.250%, 03/26/2031 (A) | &nbsp;&nbsp;1257000 | &nbsp;&nbsp;&nbsp;&nbsp;1306389 |
| British Airways 2018-1 Class A Pass Through Trust<br> 4.125%, 09/20/2031 (A) | &nbsp;&nbsp;1136882 | &nbsp;&nbsp;&nbsp;&nbsp;1101986 |
| CIMIC Finance USA Pty, Ltd.<br> 7.000%, 03/25/2034 (A) | &nbsp;&nbsp;4678000 | &nbsp;&nbsp;&nbsp;&nbsp;5078926 |
| DAE Funding LLC<br> 3.375%, 03/20/2028 (A) | &nbsp;&nbsp;6526000 | &nbsp;&nbsp;&nbsp;&nbsp;6354267 |
| JetBlue 2019-1 Class AA Pass Through Trust<br> 2.750%, 05/15/2032 | &nbsp;&nbsp;4428199 | &nbsp;&nbsp;&nbsp;&nbsp;3972499 |
| The Boeing Company<br> 6.528%, 05/01/2034 | 14927000 | &nbsp;&nbsp;&nbsp;16514620 |
| United Airlines 2016-1 Class A Pass Through Trust<br> 3.450%, 07/07/2028 (B) | &nbsp;&nbsp;5932468 | &nbsp;&nbsp;&nbsp;&nbsp;5782512 |
| United Airlines 2019-1 Class A Pass Through Trust<br> 4.550%, 08/25/2031 | &nbsp;&nbsp;2046286 | &nbsp;&nbsp;&nbsp;&nbsp;1989884 |
| United Airlines 2020-1 Class A Pass Through Trust<br> 5.875%, 10/15/2027 | &nbsp;&nbsp;4800944 | &nbsp;&nbsp;&nbsp;&nbsp;4922656 |
| United Airlines 2023-1 Class A Pass Through Trust<br> 5.800%, 01/15/2036 | &nbsp;&nbsp;6143614 | &nbsp;&nbsp;&nbsp;&nbsp;6417597 |
| United Airlines 2024-1 Class A Pass Through Trust<br> 5.875%, 02/15/2037 | &nbsp;&nbsp;4253122 | &nbsp;&nbsp;&nbsp;&nbsp;4356784 |
| United Airlines 2024-1 Class AA Pass Through Trust<br> 5.450%, 02/15/2037 | &nbsp;&nbsp;5239885 | &nbsp;&nbsp;&nbsp;&nbsp;5386894 |
| Weir Group, Inc.<br> 5.350%, 05/06/2030 (A) | &nbsp;&nbsp;4112000 | &nbsp;&nbsp;&nbsp;&nbsp;4225585 |
|  |  | 128830121 |
| **Information technology – 2.7%** |  |  |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.419%, 04/15/2033 | 13250000 | &nbsp;&nbsp;&nbsp;12265058 |
| &nbsp;&nbsp;&nbsp;4.550%, 02/15/2032 | &nbsp;&nbsp;2361000 | &nbsp;&nbsp;&nbsp;&nbsp;2367583 |
| &nbsp;&nbsp;&nbsp;4.800%, 02/15/2036 | &nbsp;&nbsp;5154000 | &nbsp;&nbsp;&nbsp;&nbsp;5085692 |
| &nbsp;&nbsp;&nbsp;4.900%, 07/15/2032 | &nbsp;&nbsp;7847000 | &nbsp;&nbsp;&nbsp;&nbsp;8011802 |
| CDW LLC<br> 5.100%, 03/01/2030 | &nbsp;&nbsp;1946000 | &nbsp;&nbsp;&nbsp;&nbsp;1981691 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2031 | &nbsp;&nbsp;6785000 | &nbsp;&nbsp;&nbsp;&nbsp;6775316 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/06/2032 | &nbsp;&nbsp;5580000 | &nbsp;&nbsp;&nbsp;&nbsp;5572668 |
| &nbsp;&nbsp;&nbsp;5.100%, 02/15/2036 | &nbsp;&nbsp;3402000 | &nbsp;&nbsp;&nbsp;&nbsp;3359691 |
| &nbsp;&nbsp;&nbsp;5.300%, 04/01/2032 | &nbsp;&nbsp;5643000 | &nbsp;&nbsp;&nbsp;&nbsp;5803937 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/15/2034 | &nbsp;&nbsp;8556000 | &nbsp;&nbsp;&nbsp;&nbsp;8786364 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, 01/25/2036 (A) | &nbsp;&nbsp;6464000 | &nbsp;&nbsp;&nbsp;&nbsp;6757703 |
| &nbsp;&nbsp;&nbsp;6.250%, 01/25/2035 (A) | &nbsp;&nbsp;9051000 | &nbsp;&nbsp;&nbsp;&nbsp;9597602 |
| Marvell Technology, Inc.<br> 5.950%, 09/15/2033 | &nbsp;&nbsp;7786000 | &nbsp;&nbsp;&nbsp;&nbsp;8324641 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.703%, 04/15/2032 | &nbsp;&nbsp;2913000 | &nbsp;&nbsp;&nbsp;&nbsp;2612576 |
| &nbsp;&nbsp;&nbsp;5.300%, 01/15/2031 | &nbsp;&nbsp;4201000 | &nbsp;&nbsp;&nbsp;&nbsp;4351475 |
| &nbsp;&nbsp;&nbsp;5.650%, 11/01/2032 | &nbsp;&nbsp;4233000 | &nbsp;&nbsp;&nbsp;&nbsp;4449491 |
| &nbsp;&nbsp;&nbsp;5.800%, 01/15/2035 | &nbsp;&nbsp;3463000 | &nbsp;&nbsp;&nbsp;&nbsp;3649429 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/15/2030 | &nbsp;&nbsp;7547000 | &nbsp;&nbsp;&nbsp;&nbsp;6854266 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/24/2031 | &nbsp;&nbsp;7931000 | &nbsp;&nbsp;&nbsp;&nbsp;7256118 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 85 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 09/27/2034 | $&nbsp;&nbsp;3771000 | $&nbsp;&nbsp;&nbsp;&nbsp;3496789 |
| &nbsp;&nbsp;&nbsp;4.800%, 09/26/2032 | &nbsp;&nbsp;3233000 | &nbsp;&nbsp;&nbsp;&nbsp;3121209 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/03/2032 | &nbsp;&nbsp;4016000 | &nbsp;&nbsp;&nbsp;&nbsp;4015453 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | &nbsp;&nbsp;8248000 | &nbsp;&nbsp;&nbsp;&nbsp;6844846 |
| Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2031 (A) | &nbsp;&nbsp;4008000 | &nbsp;&nbsp;&nbsp;&nbsp;3707977 |
| &nbsp;&nbsp;&nbsp;4.375%, 10/15/2029 | &nbsp;&nbsp;3050000 | &nbsp;&nbsp;&nbsp;&nbsp;3005487 |
| TD SYNNEX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 08/09/2031 | &nbsp;&nbsp;2185000 | &nbsp;&nbsp;&nbsp;&nbsp;1964810 |
| &nbsp;&nbsp;&nbsp;5.300%, 10/10/2035 | &nbsp;&nbsp;5242000 | &nbsp;&nbsp;&nbsp;&nbsp;5190745 |
| &nbsp;&nbsp;&nbsp;6.100%, 04/12/2034 | &nbsp;&nbsp;1669000 | &nbsp;&nbsp;&nbsp;&nbsp;1763567 |
| VMware LLC<br> 4.700%, 05/15/2030 | &nbsp;&nbsp;5569000 | &nbsp;&nbsp;&nbsp;&nbsp;5657501 |
|  |  | 152631487 |
| **Materials – 0.2%** |  |  |
| Cemex SAB de CV<br> 3.875%, 07/11/2031 (A) | &nbsp;&nbsp;5190000 | &nbsp;&nbsp;&nbsp;&nbsp;4969715 |
| Freeport-McMoRan, Inc.<br> 5.400%, 11/14/2034 | &nbsp;&nbsp;4054000 | &nbsp;&nbsp;&nbsp;&nbsp;4179861 |
| JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 01/31/2031 (A) | &nbsp;&nbsp;1058000 | &nbsp;&nbsp;&nbsp;&nbsp;1079927 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/31/2032 (A) | &nbsp;&nbsp;1588000 | &nbsp;&nbsp;&nbsp;&nbsp;1630173 |
|  |  | &nbsp;&nbsp;&nbsp;11859676 |
| **Real estate – 1.2%** |  |  |
| American Homes 4 Rent LP<br> 4.950%, 06/15/2030 | &nbsp;&nbsp;4991000 | &nbsp;&nbsp;&nbsp;&nbsp;5090872 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 12/15/2032 | &nbsp;&nbsp;3986000 | &nbsp;&nbsp;&nbsp;&nbsp;3986864 |
| &nbsp;&nbsp;&nbsp;5.200%, 02/15/2029 | &nbsp;&nbsp;4881000 | &nbsp;&nbsp;&nbsp;&nbsp;5023326 |
| &nbsp;&nbsp;&nbsp;5.550%, 07/15/2033 | &nbsp;&nbsp;4181000 | &nbsp;&nbsp;&nbsp;&nbsp;4378057 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/15/2033 | &nbsp;&nbsp;4181000 | &nbsp;&nbsp;&nbsp;&nbsp;4405119 |
| CoStar Group, Inc.<br> 2.800%, 07/15/2030 (A) | &nbsp;&nbsp;7216000 | &nbsp;&nbsp;&nbsp;&nbsp;6614060 |
| FIBRA Prologis<br> 5.500%, 11/26/2035 (A) | &nbsp;&nbsp;2687000 | &nbsp;&nbsp;&nbsp;&nbsp;2697748 |
| Host Hotels & Resorts LP<br> 4.250%, 12/15/2028 | &nbsp;&nbsp;3854000 | &nbsp;&nbsp;&nbsp;&nbsp;3857778 |
| Prologis Targeted U.S. Logistics<br> Fund LP |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 01/15/2031 (A) | &nbsp;&nbsp;2007000 | &nbsp;&nbsp;&nbsp;&nbsp;1992170 |
| &nbsp;&nbsp;&nbsp;5.250%, 01/15/2035 (A) | &nbsp;&nbsp;6686000 | &nbsp;&nbsp;&nbsp;&nbsp;6804151 |
| Regency Centers LP<br> 5.000%, 07/15/2032 | &nbsp;&nbsp;5222000 | &nbsp;&nbsp;&nbsp;&nbsp;5346509 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 11/15/2031 | &nbsp;&nbsp;5875000 | &nbsp;&nbsp;&nbsp;&nbsp;5951554 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | 10005000 | &nbsp;&nbsp;&nbsp;10074218 |
|  |  | &nbsp;&nbsp;&nbsp;66222426 |
| **Utilities – 3.3%** |  |  |
| American Electric Power Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 03/01/2033 | &nbsp;&nbsp;1233000 | &nbsp;&nbsp;&nbsp;&nbsp;1294892 |
| &nbsp;&nbsp;&nbsp;5.800%, (5.800% to 3-15-31, then 5 Year CMT + 2.128%), 03/15/2056 | &nbsp;&nbsp;2713000 | &nbsp;&nbsp;&nbsp;&nbsp;2693359 |
| &nbsp;&nbsp;&nbsp;6.050%, (6.050% to 3-15-36, then 5 Year CMT + 1.940%), 03/15/2056 | &nbsp;&nbsp;1307000 | &nbsp;&nbsp;&nbsp;&nbsp;1284167 |
| Atlantica Transmision Sur SA<br> 6.875%, 04/30/2043 (A) | &nbsp;&nbsp;1109012 | &nbsp;&nbsp;&nbsp;&nbsp;1191550 |
| Capital Power US Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.257%, 06/01/2028 (A) | &nbsp;&nbsp;2149000 | &nbsp;&nbsp;&nbsp;&nbsp;2190613 |
| &nbsp;&nbsp;&nbsp;6.189%, 06/01/2035 (A) | &nbsp;&nbsp;3631000 | &nbsp;&nbsp;&nbsp;&nbsp;3790673 |
| CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.950%, (5.950% to 4-1-31, then 5 Year CMT + 2.223%), 04/01/2056 | &nbsp;&nbsp;3275000 | &nbsp;&nbsp;&nbsp;&nbsp;3299975 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| CenterPoint Energy, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.850%, (6.850% to 2-15-35, then 5 Year CMT + 2.946%), 02/15/2055 | $&nbsp;&nbsp;4990000 | $&nbsp;&nbsp;&nbsp;5321735 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 2-15-30, then 5 Year CMT + 3.254%), 02/15/2055 | &nbsp;&nbsp;2980000 | &nbsp;&nbsp;&nbsp;3107729 |
| Constellation Energy Generation LLC<br> 6.500%, 10/01/2053 | &nbsp;&nbsp;3014000 | &nbsp;&nbsp;&nbsp;3283670 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, (6.000% to 2-15-31, then 5 Year CMT + 2.262%), 02/15/2056 | &nbsp;&nbsp;4397000 | &nbsp;&nbsp;&nbsp;4417283 |
| &nbsp;&nbsp;&nbsp;6.200%, (6.200% to 2-15-36, then 5 Year CMT + 2.006%), 02/15/2056 | &nbsp;&nbsp;5422000 | &nbsp;&nbsp;&nbsp;5425693 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-1-30, then 5 Year CMT + 2.386%), 02/01/2055 | &nbsp;&nbsp;3886000 | &nbsp;&nbsp;&nbsp;4039217 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 6-1-34, then 5 Year CMT + 2.511%), 06/01/2054 | &nbsp;&nbsp;2015000 | &nbsp;&nbsp;&nbsp;2181743 |
| Duke Energy Carolinas LLC<br> 4.950%, 01/15/2033 | &nbsp;&nbsp;4993000 | &nbsp;&nbsp;&nbsp;5142667 |
| Duke Energy Corp.<br> 5.750%, 09/15/2033 | &nbsp;&nbsp;4462000 | &nbsp;&nbsp;&nbsp;4724935 |
| Electricite de France SA<br> 5.650%, 04/22/2029 (A) | &nbsp;&nbsp;7718000 | &nbsp;&nbsp;&nbsp;8035718 |
| Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, (5.875% to 6-15-31, then 5 Year CMT + 2.179%), 06/15/2056 | &nbsp;&nbsp;5514000 | &nbsp;&nbsp;&nbsp;5510556 |
| &nbsp;&nbsp;&nbsp;6.100%, (6.100% to 6-15-36, then 5 Year CMT + 2.013%), 06/15/2056 | &nbsp;&nbsp;2757000 | &nbsp;&nbsp;&nbsp;2752721 |
| Eversource Energy<br> 5.125%, 05/15/2033 | &nbsp;&nbsp;5079000 | &nbsp;&nbsp;&nbsp;5129594 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 03/15/2031 | &nbsp;&nbsp;2065000 | &nbsp;&nbsp;&nbsp;2131799 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 3-15-35, then 5 Year CMT + 1.975%), 03/15/2055 | &nbsp;&nbsp;1370000 | &nbsp;&nbsp;&nbsp;1425543 |
| Indianapolis Power & Light Company<br> 5.650%, 12/01/2032 (A) | &nbsp;&nbsp;8098000 | &nbsp;&nbsp;&nbsp;8451959 |
| National Grid PLC<br> 5.809%, 06/12/2033 | &nbsp;&nbsp;7098000 | &nbsp;&nbsp;&nbsp;7549086 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 10987000 | 10104116 |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 8-15-30, then 5 Year CMT + 2.053%), 08/15/2055 | &nbsp;&nbsp;3173000 | &nbsp;&nbsp;&nbsp;3275320 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 8-15-35, then 5 Year CMT + 1.979%), 08/15/2055 | &nbsp;&nbsp;1142000 | &nbsp;&nbsp;&nbsp;1203154 |
| &nbsp;&nbsp;&nbsp;6.700%, (6.700% to 9-1-29, then 5 Year CMT + 2.364%), 09/01/2054 | &nbsp;&nbsp;2781000 | &nbsp;&nbsp;&nbsp;2889332 |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 05/01/2030 | &nbsp;&nbsp;1754000 | &nbsp;&nbsp;&nbsp;1704096 |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 7-15-31, then 5 Year CMT + 2.035%), 07/15/2056 | &nbsp;&nbsp;4398000 | &nbsp;&nbsp;&nbsp;4426485 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, 06/15/2029 (A) | &nbsp;&nbsp;4211000 | &nbsp;&nbsp;&nbsp;4192410 |
| &nbsp;&nbsp;&nbsp;5.407%, 10/15/2035 (A) | &nbsp;&nbsp;2188000 | &nbsp;&nbsp;&nbsp;2185682 |
| &nbsp;&nbsp;&nbsp;7.000%, 03/15/2033 (A) | &nbsp;&nbsp;5799000 | &nbsp;&nbsp;&nbsp;6410151 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | &nbsp;&nbsp;2999000 | &nbsp;&nbsp;&nbsp;2534851 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/15/2034 | &nbsp;&nbsp;4575000 | &nbsp;&nbsp;&nbsp;4751446 |
| Sempra |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 08/01/2033 | &nbsp;&nbsp;3547000 | &nbsp;&nbsp;&nbsp;3704048 |
| &nbsp;&nbsp;&nbsp;6.400%, (6.400% to 10-1-34, then 5 Year CMT + 2.632%), 10/01/2054 | &nbsp;&nbsp;4971000 | &nbsp;&nbsp;&nbsp;5056151 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 10-1-29, then 5 Year CMT + 2.789%), 10/01/2054 | &nbsp;&nbsp;3793000 | &nbsp;&nbsp;&nbsp;3902170 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2034 | &nbsp;&nbsp;3596000 | &nbsp;&nbsp;&nbsp;3785758 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 86 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| The Southern Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 3-15-35, then 5 Year CMT + 2.069%), 03/15/2055 | 5146000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5370781 |
| Vistra Operations Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 07/15/2029 (A) | 8669000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8608553 |
| &nbsp;&nbsp;&nbsp;6.000%, 04/15/2034 (A) | 6393000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6727565 |
| &nbsp;&nbsp;&nbsp;6.950%, 10/15/2033 (A) | 4932000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5495915 |
| WEC Energy Group, Inc.<br> 5.625%, (5.625% to 5-15-31, then 5 Year CMT + 1.905%), 05/15/2056 | 2748000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2765307 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;183470168 |
| TOTAL CORPORATE BONDS (Cost $1,664,755,867) |  | $1690432127 |
| **MUNICIPAL BONDS – 0.4%** |  |  |
| Foothill-Eastern Transportation Corridor Agency (California)<br> 4.094%, 01/15/2049 | 5178000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4229797 |
| Golden State Tobacco Securitization Corp. (California)<br> 4.214%, 06/01/2050 | 4967000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3632184 |
| Maryland Health & Higher Educational Facilities Authority<br> 3.197%, 07/01/2050 | 8929000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6044874 |
| Ohio Turnpike & Infrastructure Commission<br> 3.216%, 02/15/2048 | 2540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1872596 |
| Regents of the University of California Medical Center<br> 3.006%, 05/15/2050 | 8900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5942839 |
| TOTAL MUNICIPAL BONDS (Cost $30,629,429) | TOTAL MUNICIPAL BONDS (Cost $30,629,429) | $&nbsp;&nbsp;&nbsp;&nbsp;21722290 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 6.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 6.2%** |  |
| **Commercial and residential – 5.2%** |  |  |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-R1, Class A1,<br> 0.990%, 04/25/2053 (A)(D) | 1080525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044272 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.035%, 01/20/2065 (A)(D) | 3944941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3357404 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 0.951%, 07/25/2066 (A)(D) | 3340619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2914344 |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A1 (4.800% to 2-1-28, then 5.800% thereafter),<br> 4.800%, 11/26/2068 (A) | 3801892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3793876 |
| &nbsp;&nbsp;&nbsp;Series 2024-5, Class A1 (4.950% to 4-1-28, then 5.950% thereafter),<br> 4.950%, 07/25/2068 (A) | 4598308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4603226 |
| &nbsp;&nbsp;&nbsp;Series 2025-10, Class A1,<br> 4.960%, 09/25/2070 (A)(D) | 2024811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027059 |
| &nbsp;&nbsp;&nbsp;Series 2025-11, Class A1,<br> 4.975%, 10/25/2070 (A)(D) | 3094799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3099056 |
| &nbsp;&nbsp;&nbsp;Series 2025-13, Class A1,<br> 4.929%, 10/25/2070 (A) | 3411000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3415260 |
| Arroyo Mortgage Trust<br> Series 2021-1R, Class A1<br> 1.175%, 10/25/2048 (A)(D) | 1671365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512839 |
| Avenue of Americas |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1301, Class A,<br> 5.059%, 08/11/2042 (A)(D) | 4283000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4335804 |
| &nbsp;&nbsp;&nbsp;Series 2025-1301, Class B,<br> 5.302%, 08/11/2042 (A)(D) | 1884000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1909353 |
| BAHA Trust<br> Series 2024-MAR, Class A<br> 5.972%, 12/10/2041 (A)(D) | 5739000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5940029 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BANK5 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-5YR18, Class A3,<br> 5.145%, 12/15/2058 | $&nbsp;&nbsp;3871000 | $&nbsp;&nbsp;&nbsp;3979045 |
| &nbsp;&nbsp;&nbsp;Series 2025-5YR19, Class A3,<br> 5.270%, 12/15/2058 | &nbsp;&nbsp;2598000 | &nbsp;&nbsp;&nbsp;2685077 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-C6, Class A2,<br> 2.690%, 02/15/2053 | &nbsp;&nbsp;1415947 | &nbsp;&nbsp;&nbsp;1334556 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C29, Class A3,<br> 5.208%, 09/15/2057 | &nbsp;&nbsp;5490000 | &nbsp;&nbsp;&nbsp;5642310 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C31, Class A3,<br> 5.609%, 12/15/2057 | &nbsp;&nbsp;1692000 | &nbsp;&nbsp;&nbsp;1763817 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C38, Class A3,<br> 5.146%, 11/15/2058 | &nbsp;&nbsp;3097000 | &nbsp;&nbsp;&nbsp;3185987 |
| Benchmark Mortgage Trust<br> Series 2024-V12, Class A3<br> 5.738%, 12/15/2057 | &nbsp;&nbsp;4485000 | &nbsp;&nbsp;&nbsp;4692109 |
| BMO Mortgage Trust<br> Series 2024-5C8, Class A3<br> 5.625%, 12/15/2057 (D) | &nbsp;&nbsp;1751000 | &nbsp;&nbsp;&nbsp;1822771 |
| BRAVO Residential Funding Trust<br> Series 2021-NQM1, Class A1<br> 0.941%, 02/25/2049 (A)(D) | &nbsp;&nbsp;1543291 | &nbsp;&nbsp;&nbsp;1422244 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class A,<br> 3.202%, 12/09/2041 (A) | &nbsp;&nbsp;2429000 | &nbsp;&nbsp;&nbsp;2305999 |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (A) | &nbsp;&nbsp;3485000 | &nbsp;&nbsp;&nbsp;3496266 |
| BXHPP Trust<br> Series 2021-FILM, Class C (1 month CME Term SOFR + 1.214%)<br> 4.964%, 08/15/2036 (A)(E) | 11543000 | 10814603 |
| Cantor Commercial Real Estate Lending<br> Series 2019-CF1, Class A2<br> 3.623%, 05/15/2052 | &nbsp;&nbsp;5705606 | &nbsp;&nbsp;&nbsp;5636154 |
| CENT Trust<br> Series 2025-CITY, Class A<br> 4.920%, 07/10/2040 (A)(D) | &nbsp;&nbsp;2998000 | &nbsp;&nbsp;&nbsp;3034463 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-GC46, Class A2,<br> 2.708%, 02/15/2053 | &nbsp;&nbsp;2381317 | &nbsp;&nbsp;&nbsp;2289346 |
| &nbsp;&nbsp;&nbsp;Series 2023-SMRT, Class A,<br> 5.820%, 10/12/2040 (A)(D) | &nbsp;&nbsp;3474000 | &nbsp;&nbsp;&nbsp;3580145 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 0.956%, 09/27/2066 (A)(D) | &nbsp;&nbsp;2434981 | &nbsp;&nbsp;&nbsp;2096255 |
| &nbsp;&nbsp;&nbsp;Series 2021-HX1, Class A1,<br> 1.110%, 10/25/2066 (A)(D) | &nbsp;&nbsp;2450786 | &nbsp;&nbsp;&nbsp;2126435 |
| &nbsp;&nbsp;&nbsp;Series 2025-6, Class A1 (5.529% to 7-1-29, then 6.529% thereafter),<br> 5.529%, 08/25/2070 (A) | &nbsp;&nbsp;2180444 | &nbsp;&nbsp;&nbsp;2200282 |
| COLT Trust<br> Series 2020-RPL1, Class A1<br> 1.390%, 01/25/2065 (A)(D) | &nbsp;&nbsp;5859504 | &nbsp;&nbsp;&nbsp;5100421 |
| Commercial Mortgage Trust (Cantor Fitzgerald/Deutsche Bank AG)<br> Series 2020-CX, Class D<br> 2.683%, 11/10/2046 (A)(D) | &nbsp;&nbsp;2811000 | &nbsp;&nbsp;&nbsp;2243810 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (A)(D) | &nbsp;&nbsp;1026459 | &nbsp;&nbsp;&nbsp;&nbsp;922510 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 87 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Credit Suisse Mortgage<br> Capital Certificates (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.015%, 04/25/2066 (A)(D) | $1542921 | $1350470 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM6, Class A1,<br> 1.174%, 07/25/2066 (A)(D) | 3624863 | 3112764 |
| &nbsp;&nbsp;&nbsp;Series 2021-RPL2, Class A1A,<br> 1.115%, 01/25/2060 (A)(D) | 5352859 | 4572321 |
| Cross Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-H10, Class A1,<br> 4.968%, 01/25/2071 (A)(D) | 1973440 | 1975129 |
| &nbsp;&nbsp;&nbsp;Series 2025-H8, Class A1,<br> 5.003%, 11/25/2070 (A)(D) | 2644539 | 2649654 |
| &nbsp;&nbsp;&nbsp;Series 2025-H9, Class A1,<br> 5.036%, 11/25/2070 (A)(D) | 3394607 | 3402745 |
| DBJPM Mortgage Trust<br> Series 2020-C9, Class A2<br> 1.900%, 08/15/2053 | &nbsp;&nbsp;249932 | &nbsp;&nbsp;&nbsp;&nbsp;249494 |
| Deephaven Residential Mortgage Trust<br> Series 2021-2, Class A1<br> 0.899%, 04/25/2066 (A)(D) | 2829248 | 2537148 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.797%, 02/25/2066 (A)(D) | &nbsp;&nbsp;484349 | &nbsp;&nbsp;&nbsp;&nbsp;424681 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (A)(D) | 1591955 | 1355133 |
| &nbsp;&nbsp;&nbsp;Series 2025-INV5, Class A1,<br> 5.077%, 12/01/2070 (A)(D) | 5671033 | 5682175 |
| Flagstar Mortgage Trust<br> Series 2021-1, Class A2<br> 2.500%, 02/01/2051 (A)(D) | 6181667 | 5166037 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.874%, 01/25/2066 (A)(D) | 1107142 | &nbsp;&nbsp;&nbsp;&nbsp;992434 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.036%, 05/25/2066 (A)(D) | 1262387 | 1102962 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (A)(D) | 2506634 | 2209944 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM5, Class A1,<br> 0.000%, 08/25/2070 (A)(D) | 3588688 | 3593640 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-NQM1, Class A1,<br> 1.382%, 09/27/2060 (A)(D) | &nbsp;&nbsp;512276 | &nbsp;&nbsp;&nbsp;&nbsp;489024 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 1.017%, 07/25/2061 (A)(D) | 1448562 | 1319878 |
| Hudson Yards Mortgage Trust<br> Series 2025-SPRL, Class A<br> 5.467%, 01/13/2040 (A)(D) | 3647000 | 3781172 |
| Imperial Fund Mortgage Trust<br> Series 2021-NQM1, Class A1<br> 1.071%, 06/25/2056 (A)(D) | 2005894 | 1763393 |
| JP Morgan Mortgage Trust<br> Series 2025-NQM5, Class A1<br> 4.879%, 05/25/2065 (A)(D) | 1768000 | 1767670 |
| MFA Trust<br> Series 2021-NQM1, Class A1<br> 1.153%, 04/25/2065 (A)(D) | 1258061 | 1190405 |
| Morgan Stanley Residential Mortgage Loan Trust<br> Series 2025-NQM10, Class A1<br> 5.119%, 11/25/2070 (A)(D) | 2465000 | 2471968 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A1B,<br> 3.500%, 10/25/2059 (A)(D) | $1743179 | $1645073 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM7, Class A1,<br> 5.010%, 10/26/2065 (A)(D) | 4930000 | 4937125 |
| NMLT Trust<br> Series 2021-INV1, Class A1<br> 1.185%, 05/25/2056 (A)(D) | 3974351 | 3514984 |
| NRZT<br> Series 2025-NQM6, Class A1<br> 5.085%, 10/25/2065 (A)(D) | 4215239 | 4228405 |
| NXPT Commercial Mortgage Trust<br> Series 2024-STOR, Class A<br> 4.312%, 11/05/2041 (A)(D) | 3310000 | 3284576 |
| NYMT Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-CP1, Class A1,<br> 2.042%, 07/25/2061 (A) | 1101272 | 1037358 |
| &nbsp;&nbsp;&nbsp;Series 2025-INV2, Class A1,<br> 5.000%, 10/25/2060 (A)(D) | 4054091 | 4074176 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A3,<br> 2.500%, 05/25/2060 (A)(D) | 1532589 | 1312150 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.101%, 05/25/2061 (A)(D) | 2971798 | 2463785 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.054%, 07/25/2061 (A)(D) | 2689441 | 2213341 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM14, Class A1 (5.162% to 7-1-29, then 6.162% thereafter),<br> 5.162%, 07/25/2065 (A) | 1878697 | 1887126 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM18, Class A1,<br> 5.057%, 09/25/2065 (A)(D) | 1631238 | 1636393 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM19, Class A1,<br> 4.869%, 10/25/2065 (A)(D) | 3242077 | 3242705 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM20, Class A1,<br> 5.021%, 10/25/2065 (A)(D) | 3617291 | 3627250 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM21, Class A1,<br> 4.989%, 10/25/2065 (A)(D) | 2407167 | 2412659 |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM23, Class A1,<br> 4.872%, 10/25/2065 (A)(D) | 4385000 | 4385652 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-SFR1, Class A,<br> 3.350%, 02/17/2041 (A) | 4974229 | 4826022 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A,<br> 3.400%, 02/17/2042 (A) | 4063717 | 3898934 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR2, Class A,<br> 3.305%, 04/17/2042 (A) | 2693156 | 2567266 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR5, Class A,<br> 3.850%, 10/17/2042 (A) | 3293000 | 3189481 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR6, Class A,<br> 4.000%, 12/17/2042 (A) | 2297000 | 2228642 |
| Provident Funding Mortgage Trust<br> Series 2020-F1, Class A2<br> 2.000%, 01/25/2036 (A)(D) | 3523590 | 3169634 |
| ROCK Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class A,<br> 5.388%, 11/13/2041 (A) | 4734000 | 4863607 |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class D,<br> 7.109%, 11/13/2041 (A) | 4373000 | 4582033 |
| SLG Office Trust<br> Series 2021-OVA, Class C<br> 2.851%, 07/15/2041 (A) | 6044000 | 5367099 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 88 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.943%, 05/25/2065 (A)(D) | $&nbsp;&nbsp;&nbsp;&nbsp;843852 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802359 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1,<br> 2.447%, 12/25/2066 (A)(D) | &nbsp;&nbsp;4183012 | &nbsp;&nbsp;&nbsp;&nbsp;3789424 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-4, Class A1,<br> 3.000%, 06/25/2058 (A)(D) | &nbsp;&nbsp;1743639 | &nbsp;&nbsp;&nbsp;&nbsp;1662290 |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A1,<br> 2.900%, 10/25/2059 (A)(D) | &nbsp;&nbsp;1970654 | &nbsp;&nbsp;&nbsp;&nbsp;1901039 |
| &nbsp;&nbsp;&nbsp;Series 2020-4, Class A1,<br> 1.750%, 10/25/2060 (A) | &nbsp;&nbsp;2775969 | &nbsp;&nbsp;&nbsp;&nbsp;2543551 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A1,<br> 4.859%, 03/25/2064 (A)(D) | &nbsp;&nbsp;4978881 | &nbsp;&nbsp;&nbsp;&nbsp;5060315 |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A1A,<br> 5.033%, 07/25/2065 (A)(D) | &nbsp;&nbsp;2928503 | &nbsp;&nbsp;&nbsp;&nbsp;2956873 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A1A,<br> 4.578%, 10/27/2064 (A)(D) | &nbsp;&nbsp;1973230 | &nbsp;&nbsp;&nbsp;&nbsp;1979323 |
| VDCM Commercial Mortgage Trust<br> Series 2025-AZ, Class A<br> 5.061%, 07/13/2044 (A)(D) | &nbsp;&nbsp;3228000 | &nbsp;&nbsp;&nbsp;&nbsp;3265494 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.815%, 01/25/2066 (A)(D) | &nbsp;&nbsp;1816193 | &nbsp;&nbsp;&nbsp;&nbsp;1641213 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (A)(D) | &nbsp;&nbsp;2372168 | &nbsp;&nbsp;&nbsp;&nbsp;2092753 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (A)(D) | &nbsp;&nbsp;1044853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885169 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (A)(D) | &nbsp;&nbsp;2108050 | &nbsp;&nbsp;&nbsp;&nbsp;1839286 |
| &nbsp;&nbsp;&nbsp;Series 2021-R2, Class A1,<br> 0.918%, 02/25/2064 (A)(D) | &nbsp;&nbsp;1391441 | &nbsp;&nbsp;&nbsp;&nbsp;1311118 |
| &nbsp;&nbsp;&nbsp;Series 2025-11, Class A1,<br> 4.914%, 11/25/2070 (A)(D) | &nbsp;&nbsp;4552576 | &nbsp;&nbsp;&nbsp;&nbsp;4556857 |
| Visio Trust<br> Series 2020-1R, Class A1<br> 1.312%, 11/25/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;816555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792073 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-5C4, Class A3,<br> 5.673%, 05/15/2058 | &nbsp;&nbsp;3175000 | &nbsp;&nbsp;&nbsp;&nbsp;3318487 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C6, Class A3,<br> 5.186%, 10/15/2058 | &nbsp;&nbsp;3719000 | &nbsp;&nbsp;&nbsp;&nbsp;3824633 |
| WHARF Commercial Mortgage Trust<br> Series 2025-DC, Class A<br> 5.349%, 07/15/2040 (A)(D) | &nbsp;&nbsp;3704000 | &nbsp;&nbsp;&nbsp;&nbsp;3806182 |
|  |  | 292111283 |
| **U.S. Government Agency – 1.0%** |  |  |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.634%, 01/16/2053 | &nbsp;&nbsp;9615957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142902 |
| &nbsp;&nbsp;&nbsp;Series 2016-174, Class IO,<br> 0.725%, 11/16/2056 | &nbsp;&nbsp;7503910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230824 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.202%, 04/16/2057 | &nbsp;&nbsp;8555046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86160 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.627%, 01/16/2059 | &nbsp;&nbsp;7522639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270756 |
| &nbsp;&nbsp;&nbsp;Series 2017-135, Class IO,<br> 0.693%, 10/16/2058 | 33264972 | &nbsp;&nbsp;&nbsp;&nbsp;1016454 |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.485%, 02/16/2059 | 17826444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456763 |
| &nbsp;&nbsp;&nbsp;Series 2017-159, Class IO,<br> 0.414%, 06/16/2059 | 23993080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584675 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.489%, 12/16/2058 | 21875733 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444322 |
| &nbsp;&nbsp;&nbsp;Series 2017-22, Class IO,<br> 0.771%, 12/16/2057 | 10983056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393862 |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.496%, 07/16/2058 | &nbsp;&nbsp;6063671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141888 |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.651%, 11/16/2057 | 10508561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391561 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.688%, 05/16/2059 | 13385832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460329 |
| &nbsp;&nbsp;&nbsp;Series 2018-158, Class IO,<br> 0.798%, 05/16/2061 | 19183330 | &nbsp;&nbsp;&nbsp;&nbsp;1143071 |
| &nbsp;&nbsp;&nbsp;Series 2018-69, Class IO,<br> 0.609%, 04/16/2060 | 20236336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907193 |
| &nbsp;&nbsp;&nbsp;Series 2019-131, Class IO,<br> 0.803%, 07/16/2061 | 25666979 | &nbsp;&nbsp;&nbsp;&nbsp;1456247 |
| &nbsp;&nbsp;&nbsp;Series 2020-100, Class IO,<br> 0.787%, 05/16/2062 | 27232709 | &nbsp;&nbsp;&nbsp;&nbsp;1623674 |
| &nbsp;&nbsp;&nbsp;Series 2020-108, Class IO,<br> 0.847%, 06/16/2062 | 65611239 | &nbsp;&nbsp;&nbsp;&nbsp;3753711 |
| &nbsp;&nbsp;&nbsp;Series 2020-114, Class IO,<br> 0.799%, 09/16/2062 | 62246973 | &nbsp;&nbsp;&nbsp;&nbsp;3240752 |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.886%, 06/16/2062 | 47154201 | &nbsp;&nbsp;&nbsp;&nbsp;2944162 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.608%, 08/16/2062 | 26121411 | &nbsp;&nbsp;&nbsp;&nbsp;1195645 |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.759%, 05/16/2062 | 14279897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829958 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.799%, 09/16/2062 | 83807739 | &nbsp;&nbsp;&nbsp;&nbsp;4816397 |
| &nbsp;&nbsp;&nbsp;Series 2020-150, Class IO,<br> 0.966%, 12/16/2062 | 42599826 | &nbsp;&nbsp;&nbsp;&nbsp;2882786 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.836%, 11/16/2062 | 55293968 | &nbsp;&nbsp;&nbsp;&nbsp;3546572 |
| &nbsp;&nbsp;&nbsp;Series 2020-92, Class IO,<br> 0.881%, 02/16/2062 | 62605819 | &nbsp;&nbsp;&nbsp;&nbsp;3468869 |
| &nbsp;&nbsp;&nbsp;Series 2021-10, Class IO,<br> 0.987%, 05/16/2063 | 39817769 | &nbsp;&nbsp;&nbsp;&nbsp;2996960 |
| &nbsp;&nbsp;&nbsp;Series 2021-11, Class IO,<br> 1.022%, 12/16/2062 | 61720055 | &nbsp;&nbsp;&nbsp;&nbsp;4500947 |
| &nbsp;&nbsp;&nbsp;Series 2021-203, Class IO,<br> 0.870%, 07/16/2063 | 52449599 | &nbsp;&nbsp;&nbsp;&nbsp;3382705 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class IO,<br> 0.870%, 09/16/2062 | 72549117 | &nbsp;&nbsp;&nbsp;&nbsp;4596444 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.822%, 02/16/2063 | 18774129 | &nbsp;&nbsp;&nbsp;&nbsp;1146529 |
| &nbsp;&nbsp;&nbsp;Series 2022-181, Class IO,<br> 0.720%, 07/16/2064 | 19932716 | &nbsp;&nbsp;&nbsp;&nbsp;1201145 |
| &nbsp;&nbsp;&nbsp;Series 2022-21, Class IO,<br> 0.785%, 10/16/2063 | 18035241 | &nbsp;&nbsp;&nbsp;&nbsp;1105681 |
| &nbsp;&nbsp;&nbsp;Series 2023-197, Class IO,<br> 1.241%, 09/16/2065 | 13041359 | &nbsp;&nbsp;&nbsp;&nbsp;1084273 |
| &nbsp;&nbsp;&nbsp;Series 2025-128, Class IO,<br> 0.926%, 09/16/2067 | 43447312 | &nbsp;&nbsp;&nbsp;&nbsp;3506459 |
|  |  | &nbsp;&nbsp;&nbsp;59950676 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $421,795,789) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $421,795,789) | $352061959 |
| **ASSET-BACKED SECURITIES – 7.6%** | **ASSET-BACKED SECURITIES – 7.6%** |  |
| ABPCI Direct Lending Fund I, Ltd.<br> Series 2020-1A, Class A<br> 3.199%, 12/29/2030 (A) | &nbsp;&nbsp;3363164 | &nbsp;&nbsp;&nbsp;&nbsp;3334509 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 89 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Aligned Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 1.937%, 08/15/2046 (A) | $1331000 | $1307157 |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 6.500%, 11/16/2048 (A) | 3088000 | 3132004 |
| Ally Bank Auto Credit-Linked Notes<br> Series 2025-B, Class A2<br> 4.305%, 09/15/2033 (A) | 4248737 | 4259215 |
| AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR1, Class B<br> 2.153%, 06/17/2038 (A) | 4329000 | 4096261 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A<br> 3.655%, 06/17/2042 (A) | 1763000 | 1701239 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR2, Class A<br> 4.275%, 11/17/2042 (A) | 4066000 | 4006194 |
| Aqua Finance Trust<br> Series 2021-A, Class A<br> 1.540%, 07/17/2046 (A) | 1011520 | &nbsp;&nbsp;&nbsp;&nbsp;930628 |
| Arby's Funding LLC<br> Series 2020-1A, Class A2<br> 3.237%, 07/30/2050 (A) | 5728585 | 5579513 |
| Avis Budget Rental Car Funding AESOP LLC<br> Series 2024-1A, Class A<br> 5.360%, 06/20/2030 (A) | 2829000 | 2916921 |
| Beacon Container Finance II LLC<br> Series 2021-1A, Class A<br> 2.250%, 10/22/2046 (A) | 4836417 | 4522660 |
| Capital Automotive REIT |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A1<br> 4.900%, 05/15/2054 (A) | 1189513 | 1188892 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 5.250%, 05/15/2054 (A) | 1887123 | 1883175 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A1<br> 4.400%, 10/15/2054 (A) | 2784450 | 2714910 |
| Capital One Prime Auto Receivables Trust<br> Series 2025-1, Class A3<br> 3.850%, 07/15/2030 | 1652000 | 1652769 |
| CARS-DB7 LP<br> Series 2023-1A, Class A1<br> 5.750%, 09/15/2053 (A) | 5681165 | 5723221 |
| Carvana Auto Receivables Trust<br> Series 2025-P4, Class A3<br> 4.140%, 12/10/2030 | 2753000 | 2760313 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1<br> 1.690%, 07/15/2060 (A) | 5847672 | 4920148 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1<br> 1.530%, 03/15/2061 (A) | 5533946 | 4467105 |
| CLI Funding IX LLC<br> Series 2025-1A, Class A<br> 5.350%, 06/20/2050 (A) | 3350130 | 3396592 |
| CLI Funding VI LLC<br> Series 2020-1A, Class A<br> 2.080%, 09/18/2045 (A) | 3951917 | 3729426 |
| CLI Funding VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.640%, 02/18/2046 (A) | 3429914 | 3192813 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A<br> 2.720%, 01/18/2047 (A) | 2507059 | 2333823 |
| Cloud Capital Holdco LP<br> Series 2024-2A, Class A2<br> 5.923%, 11/22/2049 (A) | 2499000 | 2528094 |
| Compass Datacenters Issuer II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 5.250%, 02/25/2049 (A) | 3231000 | 3248923 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Compass Datacenters Issuer<br> II LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A1<br> 5.316%, 05/25/2050 (A) | $3200000 | $3228781 |
| Compass Datacenters Issuer III LLC<br> Series 2025-2A, Class A2<br> 5.835%, 02/25/2050 (A) | 1873000 | 1900921 |
| Concord Music Royalties LLC<br> Series 2025-2A, Class A<br> 5.785%, 07/20/2075 (A) | 3049000 | 3069381 |
| Consolidated Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 6.000%, 05/20/2055 (A) | 3904000 | 3994765 |
| &nbsp;&nbsp;&nbsp;Series 2025-4A, Class A2<br> 5.522%, 12/20/2055 (A) | 2191000 | 2201593 |
| CyrusOne Data Centers Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 4.300%, 04/20/2048 (A) | 5288000 | 5213450 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 4.500%, 05/20/2049 (A) | 4977000 | 4857204 |
| DataBank Issuer |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.060%, 02/27/2051 (A) | 7289000 | 7256049 |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class A2<br> 2.400%, 10/25/2051 (A) | 5453000 | 5342894 |
| DB Master Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A2II<br> 4.030%, 11/20/2047 (A) | 2710305 | 2692260 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2I<br> 4.891%, 08/20/2055 (A) | 2015000 | 2019124 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2II<br> 5.165%, 08/20/2055 (A) | 2153000 | 2155249 |
| Diamond Infrastructure Funding LLC<br> Series 2021-1A, Class A<br> 1.760%, 04/15/2049 (A) | 5127000 | 4982806 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2<br> 3.668%, 10/25/2049 (A) | 1497600 | 1441532 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (A) | 3885138 | 3692916 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2I<br> 4.930%, 07/25/2055 (A) | 2304000 | 2315656 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2II<br> 5.217%, 07/25/2055 (A) | 2678000 | 2695973 |
| Driven Brands Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 3.237%, 01/20/2051 (A) | 4084153 | 3957568 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.791%, 10/20/2051 (A) | 4463798 | 4216779 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 6.372%, 10/20/2054 (A) | 7153450 | 7400125 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.296%, 10/20/2055 (A) | 2939000 | 2928232 |
| ExteNet Issuer LLC<br> Series 2024-1A, Class A2<br> 5.335%, 07/25/2054 (A) | 4641000 | 4669791 |
| FirstKey Homes Trust<br> Series 2021-SFR1, Class C<br> 1.888%, 08/17/2038 (A) | 6871000 | 6743608 |
| Flexential Issuer LLC<br> Series 2025-1A, Class A2<br> 6.030%, 10/25/2060 (A) | 2228000 | 2216476 |
| Ford Credit Auto Owner Trust<br> Series 2025-C, Class A3<br> 3.900%, 06/15/2030 | 2961000 | 2968875 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 90 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| GM Financial Consumer Automobile Receivables Trust<br> Series 2025-4, Class A3<br> 3.840%, 02/18/2031 | $1542000 | $1543232 |
| GM Financial Revolving Receivables Trust<br> Series 2024-1, Class A<br> 4.980%, 12/11/2036 (A) | 3257000 | 3349408 |
| GMF Floorplan Owner Revolving Trust<br> Series 2024-2A, Class A<br> 5.060%, 03/15/2031 (A) | 4681000 | 4822749 |
| Golub Capital Partners Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 3.208%, 01/22/2029 (A) | 1758221 | 1754189 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.773%, 04/20/2029 (A) | 3350907 | 3337454 |
| GreatAmerica Leasing Receivables Funding LLC<br> Series 2025-2, Class A3<br> 4.140%, 12/17/2029 (A) | 4968000 | 4985677 |
| HI-FI Music IP Issuer LP<br> Series 2022-1A, Class A2<br> 3.939%, 02/01/2062 (A) | 4717000 | 4661544 |
| Honda Auto Receivables Owner Trust<br> Series 2025-4, Class A3<br> 3.980%, 06/17/2030 | 4456000 | 4479656 |
| Hotwire Funding LLC<br> Series 2023-1A, Class A2<br> 5.687%, 05/20/2053 (A) | 4409000 | 4449763 |
| Hyundai Auto Receivables Trust<br> Series 2025-D, Class A3<br> 3.990%, 09/16/2030 | 3191000 | 3203256 |
| Invitation Homes Trust<br> Series 2024-SFR1, Class A<br> 4.000%, 09/17/2041 (A) | 4638055 | 4567186 |
| Jersey Mike's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.636%, 02/15/2055 (A) | 4747128 | 4842543 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.610%, 08/16/2055 (A) | 4318178 | 4395504 |
| Lyra Music Assets LP<br> Series 2025-1A, Class A2<br> 5.604%, 09/20/2065 (A) | 3429583 | 3458164 |
| MetroNet Infrastructure Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A2<br> 5.400%, 08/20/2055 (A) | 3802000 | 3855587 |
| &nbsp;&nbsp;&nbsp;Series 2025-4A, Class A2<br> 5.163%, 12/20/2055 (A) | 1800000 | 1803063 |
| Monroe Capital Funding, Ltd.<br> Series 2021-1A, Class A2<br> 2.815%, 04/22/2031 (A) | 3251054 | 3235813 |
| Navient Student Loan Trust<br> Series 2020-2A, Class A1A<br> 1.320%, 08/26/2069 (A) | 2208618 | 1974745 |
| Neighborly Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 3.584%, 04/30/2051 (A) | 6142560 | 5894898 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2<br> 3.695%, 01/30/2052 (A) | 2942363 | 2784858 |
| New Economy Assets - Phase 1<br> Sponsor LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 1.910%, 10/20/2061 (A) | 8463000 | 7064849 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B1<br> 2.410%, 10/20/2061 (A) | 4174000 | 2560926 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Nissan Auto Receivables Owner Trust<br> Series 2025-B, Class A3<br> 3.990%, 04/15/2030 | $3682000 | $3696939 |
| NRZ Excess Spread-Collateralized Notes<br> Series 2021-FHT1, Class A<br> 3.104%, 07/25/2026 (A) | &nbsp;&nbsp;702402 | &nbsp;&nbsp;&nbsp;&nbsp;693920 |
| Retained Vantage Data Centers Issuer LLC<br> Series 2023-1A, Class A2A<br> 5.000%, 09/15/2048 (A) | 3582000 | 3570828 |
| RIN II, Ltd.<br> Series 2019-1A, Class AR (3 month CME Term SOFR + 1.480%)<br> 5.385%, 01/15/2038 (A)(E) | 3022000 | 3025796 |
| RIN XII LLC<br> Series 2025-1A, Class A1 (3 month CME Term SOFR + 1.300%)<br> 5.205%, 04/15/2038 (A)(E) | 3091000 | 3081480 |
| Scalelogix ABS US Issuer LLC<br> Series 2025-1A, Class A2<br> 5.673%, 07/25/2055 (A) | 3306000 | 3315425 |
| SCF Equipment Leasing LLC<br> Series 2025-2A, Class A3<br> 4.330%, 06/20/2036 (A) | 5140000 | 5155703 |
| SEB Funding LLC<br> Series 2024-1A, Class A2<br> 7.386%, 04/30/2054 (A) | 6701000 | 6854356 |
| ServiceMaster Funding LLC<br> Series 2021-1, Class A2II<br> 3.113%, 07/30/2051 (A) | 3284321 | 2843531 |
| SERVPRO Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.394%, 04/25/2051 (A) | 3977575 | 3761117 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 6.174%, 01/25/2054 (A) | 2647838 | 2733117 |
| Sesac Finance LLC<br> Series 2025-1, Class A2<br> 5.500%, 07/25/2055 (A) | 3710000 | 3686976 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class APT2<br> 1.070%, 01/15/2053 (A) | 1273067 | 1165902 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A1A<br> 5.240%, 03/15/2056 (A) | 4909570 | 4993092 |
| &nbsp;&nbsp;&nbsp;Series 2024-E, Class A1A<br> 5.090%, 10/16/2056 (A) | 3754641 | 3812931 |
| Sonic Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2I<br> 3.845%, 01/20/2050 (A) | 4963373 | 4911996 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2II<br> 4.336%, 01/20/2050 (A) | 4077293 | 3940240 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.190%, 08/20/2051 (A) | 4383435 | 4081364 |
| Subway Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2I<br> 6.028%, 07/30/2054 (A) | 2868030 | 2907446 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2II<br> 6.268%, 07/30/2054 (A) | 2570040 | 2624095 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A23<br> 5.914%, 07/30/2054 (A) | 6210270 | 6157357 |
| Summit Issuer LLC<br> Series 2025-1A, Class A2<br> 5.208%, 11/20/2055 (A) | 3880000 | 3888385 |
| Sunbird Engine Finance LLC<br> Series 2020-1A, Class A<br> 3.671%, 02/15/2045 (A) | &nbsp;&nbsp;646758 | &nbsp;&nbsp;&nbsp;&nbsp;639610 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 91 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Switch ABS Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 5.436%, 06/25/2054 (A) | $1297000 | $1300787 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.036%, 03/25/2055 (A) | 5261000 | 5171572 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A21<br> 5.121%, 10/25/2055 (A) | 2569000 | 2565279 |
| Taco Bell Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2I<br> 4.821%, 08/25/2055 (A) | 3628000 | 3607653 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2II<br> 5.049%, 08/25/2055 (A) | 3465000 | 3451883 |
| TIF Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.090%, 08/20/2045 (A) | 5321823 | 5095386 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.650%, 02/20/2046 (A) | 3483654 | 3192778 |
| T-Mobile US Trust<br> Series 2025-2A, Class A<br> 4.340%, 04/22/2030 (A) | 3247000 | 3276020 |
| Toyota Auto Receivables Owner Trust<br> Series 2024-D, Class A4<br> 4.430%, 04/15/2030 | 2467000 | 2498179 |
| Tricon American Homes Trust<br> Series 2020-SFR2, Class A<br> 1.482%, 11/17/2039 (A) | 4277104 | 4079780 |
| Triton Container Finance VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.110%, 09/20/2045 (A) | 4215699 | 3978145 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.860%, 03/20/2046 (A) | 3039086 | 2825161 |
| Uniti Fiber Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.877%, 04/20/2055 (A) | 2382000 | 2432158 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A2<br> 5.177%, 01/20/2056 (A) | 2240000 | 2239850 |
| Vantage Data Centers LLC<br> Series 2020-2A, Class A2<br> 1.992%, 09/15/2045 (A) | 3641000 | 3466610 |
| VCP RRL ABS I, Ltd.<br> Series 2021-1A, Class A<br> 2.152%, 10/20/2031 (A) | &nbsp;&nbsp;835643 | &nbsp;&nbsp;&nbsp;&nbsp;824587 |
| Verizon Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-5, Class A<br> 5.000%, 06/21/2032 (A) | 7072000 | 7289069 |
| &nbsp;&nbsp;&nbsp;Series 2025-9, Class A1A<br> 3.960%, 10/21/2030 | 3415000 | 3423972 |
| Volkswagen Auto Loan Enhanced Trust<br> Series 2025-2, Class A3<br> 3.920%, 03/20/2030 | 2241000 | 2246528 |
| Wendy's Funding LLC<br> Series 2021-1A, Class A2I<br> 2.370%, 06/15/2051 (A) | 4491322 | 4185759 |
| Wheels Fleet Lease Funding 1 LLC<br> Series 2025-3A, Class A1<br> 4.080%, 09/18/2040 (A) | 3456000 | 3464952 |
| Willis Engine Structured Trust V<br> Series 2020-A, Class A<br> 3.228%, 03/15/2045 (A) | 1396310 | 1350108 |
| Willis Engine Structured Trust VIII<br> Series 2025-A, Class A<br> 5.582%, 06/15/2050 (A) | 1877156 | 1906447 |
| Wingstop Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 2.841%, 12/05/2050 (A) | 8199140 | 7943731 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.858%, 12/05/2054 (A) | 2651000 | 2723874 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Zaxby's Funding LLC<br> Series 2021-1A, Class A2<br> 3.238%, 07/30/2051 (A) | 4167040 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3932645 |
| Zayo Issuer LLC<br> Series 2025-1A, Class A2<br> 5.648%, 03/20/2055 (A) | 3033000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3084799 |
| TOTAL ASSET-BACKED SECURITIES (Cost $436,549,374) |  | $&nbsp;&nbsp;429812895 |
| **SHORT-TERM INVESTMENTS – 0.8%** | **SHORT-TERM INVESTMENTS – 0.8%** |  |
| **Short-term funds – 0.8%** |  |  |
| John Hancock Collateral Trust, 3.7477% (F)(G) | 4285976 | &nbsp;&nbsp;&nbsp;&nbsp;42877758 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $42,876,482) | TOTAL SHORT-TERM INVESTMENTS (Cost $42,876,482) | $&nbsp;&nbsp;&nbsp;&nbsp;42877758 |
| **Total Investments (Select Bond Trust)<br> (Cost $5,768,219,188) – 99.5%** | **Total Investments (Select Bond Trust)<br> (Cost $5,768,219,188) – 99.5%** | $**5624526656** |
| **Other assets and liabilities, net – 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**27966454** |
| **TOTAL NET ASSETS – 100.0%** |  | $**5652493110** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| SOFR | Secured Overnight Financing Rate |
| (A) | This security is 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 $1,052,173,753 or 18.6% of the fund's net assets as of 12-31-25. |
| (B) | All or a portion of this security is on loan as of 12-31-25. |
| (C) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (D) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (E) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (F) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (G) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $14,556,072. |

---

#### Short Term Government Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 97.6%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 97.6%** |  |
| **U.S. Government – 52.6%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 11/30/2027 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998086 |
| &nbsp;&nbsp;&nbsp;3.500%, 10/31/2027 to 11/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127591000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127041960 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128040046 |
| **U.S. Government Agency – 45.0%** |  |  |
| Federal Agricultural Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 02/24/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13492134 |
| &nbsp;&nbsp;&nbsp;4.350%, 01/28/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8707220 |
| &nbsp;&nbsp;&nbsp;4.740%, 03/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5427740 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 92 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Short Term Government Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Farm Credit Bank |  |  |
| &nbsp;&nbsp;&nbsp;4.330%, 03/18/2030 | 10000000 | $&nbsp;&nbsp;&nbsp;10020332 |
| &nbsp;&nbsp;&nbsp;4.470%, 03/05/2030 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;3010435 |
| &nbsp;&nbsp;&nbsp;4.900%, 03/19/2031 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;3503925 |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;0.900%, 02/26/2027 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1940938 |
| &nbsp;&nbsp;&nbsp;2.750%, 03/25/2027 | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;2573573 |
| &nbsp;&nbsp;&nbsp;3.950%, 11/06/2030 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4995624 |
| &nbsp;&nbsp;&nbsp;4.050%, 09/23/2030 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4975643 |
| &nbsp;&nbsp;&nbsp;4.110%, 11/13/2030 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;5005631 |
| &nbsp;&nbsp;&nbsp;4.500%, 03/26/2029 to 02/26/2030 | 13000000 | &nbsp;&nbsp;&nbsp;13005928 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 09/01/2034 | &nbsp;&nbsp;1049020 | &nbsp;&nbsp;&nbsp;&nbsp;1002159 |
| &nbsp;&nbsp;&nbsp;3.000%, 07/01/2030 to 12/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;801040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786657 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;392939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389207 |
| &nbsp;&nbsp;&nbsp;4.085%, 09/18/2030 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;3498999 |
| &nbsp;&nbsp;&nbsp;4.125%, 12/16/2030 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997893 |
| &nbsp;&nbsp;&nbsp;4.200%, 12/11/2030 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2993267 |
| &nbsp;&nbsp;&nbsp;4.270%, 12/17/2030 | &nbsp;&nbsp;3714000 | &nbsp;&nbsp;&nbsp;&nbsp;3702778 |
| &nbsp;&nbsp;&nbsp;4.300%, 03/13/2030 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;5002391 |
| &nbsp;&nbsp;&nbsp;6.000%, 10/01/2052 to 03/01/2055 | &nbsp;&nbsp;5207203 | &nbsp;&nbsp;&nbsp;&nbsp;5384611 |
| &nbsp;&nbsp;&nbsp;6.469%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.617%), 05/01/2045 (A) | &nbsp;&nbsp;&nbsp;&nbsp;181574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187388 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/01/2031 to 07/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 10/01/2027 to 09/01/2034 | &nbsp;&nbsp;1087656 | &nbsp;&nbsp;&nbsp;&nbsp;1042211 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2028 to 09/01/2034 | &nbsp;&nbsp;2118024 | &nbsp;&nbsp;&nbsp;&nbsp;2081271 |
| &nbsp;&nbsp;&nbsp;3.500%, 07/01/2031 to 06/01/2034 | &nbsp;&nbsp;1627380 | &nbsp;&nbsp;&nbsp;&nbsp;1610636 |
| &nbsp;&nbsp;&nbsp;6.000%, 07/01/2053 to 11/01/2053 | &nbsp;&nbsp;3675940 | &nbsp;&nbsp;&nbsp;&nbsp;3830973 |
| &nbsp;&nbsp;&nbsp;6.500%, 01/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;149872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159580 |
| &nbsp;&nbsp;&nbsp;7.000%, 12/01/2026 to 01/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 |
| &nbsp;&nbsp;&nbsp;8.000%, 09/01/2029 to 09/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 |
|  |  | 109329898 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $237,838,811) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $237,838,811) | $237369944 |
| **MUNICIPAL BONDS – 1.6%** |  |  |
| City of New York, GO<br> 1.990%, 10/01/2026 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987854 |
| County of Orange (Florida)<br> 2.280%, 01/01/2026 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 |
| State of California, GO<br> 2.375%, 10/01/2026 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990938 |
| State of Wisconsin<br> 2.299%, 05/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871535 |
| TOTAL MUNICIPAL BONDS (Cost $3,876,518) | TOTAL MUNICIPAL BONDS (Cost $3,876,518) | $&nbsp;&nbsp;&nbsp;&nbsp;3850327 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.3%** |  |
| **U.S. Government Agency – 0.3%** |  |  |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.634%, 01/16/2053 | &nbsp;&nbsp;&nbsp;&nbsp;654836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9731 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.202%, 04/16/2057 | &nbsp;&nbsp;&nbsp;&nbsp;635622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6401 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.627%, 01/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;449790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16189 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.485%, 02/16/2059 | &nbsp;&nbsp;593433 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15205 |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.489%, 12/16/2058 | 1355804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27538 |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.496%, 07/16/2058 | &nbsp;&nbsp;546618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12791 |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.651%, 11/16/2057 | &nbsp;&nbsp;939128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34993 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.688%, 05/16/2059 | &nbsp;&nbsp;461252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15862 |
| &nbsp;&nbsp;&nbsp;Series 2017-74, Class IO,<br> 0.391%, 09/16/2058 | 1183636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18564 |
| &nbsp;&nbsp;&nbsp;Series 2017-89, Class IO,<br> 0.437%, 07/16/2059 | &nbsp;&nbsp;568701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13803 |
| &nbsp;&nbsp;&nbsp;Series 2018-9, Class IO,<br> 0.444%, 01/16/2060 | 1281697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37730 |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.886%, 06/16/2062 | 1289444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80509 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.608%, 08/16/2062 | &nbsp;&nbsp;719802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32947 |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.759%, 05/16/2062 | 1847896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107401 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.799%, 09/16/2062 | 1324299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76107 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.836%, 11/16/2062 | 1467483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94125 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.822%, 02/16/2063 | 1749698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106853 |
| &nbsp;&nbsp;&nbsp;Series 2022-53, Class IO,<br> 0.707%, 06/16/2064 | 1618371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73085 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779834 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,740,342) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,740,342) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779834 |
| **SHORT-TERM INVESTMENTS – 0.1%** | **SHORT-TERM INVESTMENTS – 0.1%** |  |
| **Short-term funds – 0.1%** |  |  |
| John Hancock Collateral Trust, 3.7477% (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;17726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177331 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $177,333) | TOTAL SHORT-TERM INVESTMENTS (Cost $177,333) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177331 |
| **Total Investments (Short Term Government Income Trust)<br> (Cost $244,633,004) – 99.6%** | **Total Investments (Short Term Government Income Trust)<br> (Cost $244,633,004) – 99.6%** | $**242177436** |
| **Other assets and liabilities, net – 0.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**894910** |
| **TOTAL NET ASSETS – 100.0%** |  | $**243072346** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| GO | General Obligation |
| IBOR | Interbank Offered Rate |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (C) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 93 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Short Term Government Income Trust (continued) &nbsp;&nbsp;&nbsp;&nbsp;

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;$6267239 | &nbsp;&nbsp;&nbsp;&nbsp;$6263672 | &nbsp;&nbsp;&nbsp;&nbsp;$(3567) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(3567)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Strategic Income Opportunities Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 10.2%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 10.2%** |  |
| **U.S. Government – 4.2%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 02/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798952 |
| &nbsp;&nbsp;&nbsp;2.750%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672383 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2049 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4955000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3640041 |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457429 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2470193 |
| &nbsp;&nbsp;&nbsp;3.500%, 02/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322688 |
| &nbsp;&nbsp;&nbsp;4.250%, 08/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830930 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11192616 |
| **U.S. Government Agency – 6.0%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 01/01/2055 to 12/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2213145 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612618 |
| &nbsp;&nbsp;&nbsp;6.000%, 02/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656188 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630640 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/01/2054 to 01/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9531763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9762793 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581934 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 08/20/2052 to 11/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768465 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/20/2052 to 12/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486329 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15712112 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $26,693,427) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $26,693,427) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26904728 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 19.0%** | **FOREIGN GOVERNMENT OBLIGATIONS – 19.0%** |  |
| **Australia – 3.3%** |  |  |
| Airservices Australia |  |  |
| &nbsp;&nbsp;&nbsp;2.200%, 05/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511760 |
| &nbsp;&nbsp;&nbsp;5.400%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515996 |
| Commonwealth of Australia<br> 4.250%, 03/21/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569786 |
| New South Wales Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/20/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947530 |
| &nbsp;&nbsp;&nbsp;4.750%, 09/20/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075506 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/20/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967326 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/24/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449862 |
| Queensland Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 05/21/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323931 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/22/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271303 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/21/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419344 |
| &nbsp;&nbsp;&nbsp;5.250%, 08/13/2038 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313768 |
| South Australian Government Financing Authority<br> 1.750%, 05/24/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61501 |

---

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Australia (continued)** |  |  |
| Treasury Corp. of Victoria |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 11/20/2041 | &nbsp;&nbsp;&nbsp;&nbsp;775000 | $&nbsp;&nbsp;&nbsp;&nbsp;320765 |
| &nbsp;&nbsp;&nbsp;4.250%, 12/20/2032 | &nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;440409 |
| &nbsp;&nbsp;&nbsp;4.750%, 09/15/2036 | &nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;658632 |
| &nbsp;&nbsp;&nbsp;5.000%, 11/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;309550 |
| &nbsp;&nbsp;&nbsp;5.250%, 09/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;489928 |
|  |  | 8646897 |
| **Austria – 0.1%** |  |  |
| Republic of Austria<br> 2.900%, 02/20/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;264519 |
| **Brazil – 1.4%** |  |  |
| Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2027 | 17025000 | 3009668 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2029 | &nbsp;&nbsp;3710000 | &nbsp;&nbsp;&nbsp;&nbsp;626527 |
|  |  | 3636195 |
| **Canada – 1.5%** |  |  |
| CDP Financial, Inc.<br> 4.200%, 12/02/2030 | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;338382 |
| CPPIB Capital, Inc.<br> 2.250%, 12/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;343324 |
| Government of Canada |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 12/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;96911 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;369157 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;320450 |
| OMERS Finance Trust<br> 3.250%, 01/28/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;287739 |
| Province of British Columbia<br> 4.200%, 07/06/2033 | $&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;411938 |
| Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 01/31/2034 | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;608901 |
| &nbsp;&nbsp;&nbsp;3.450%, 06/02/2045 | &nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;433008 |
| Province of Quebec<br> 4.500%, 09/08/2033 | $&nbsp;&nbsp;&nbsp;&nbsp;749000 | &nbsp;&nbsp;&nbsp;&nbsp;758205 |
|  |  | 3968015 |
| **China – 0.1%** |  |  |
| People's Republic of China<br> 2.690%, 08/12/2026 | &nbsp;&nbsp;1920000 | &nbsp;&nbsp;&nbsp;&nbsp;277131 |
| **Czech Republic – 1.0%** |  |  |
| Czech Republic |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 05/30/2035 | 35760000 | 1588259 |
| &nbsp;&nbsp;&nbsp;4.250%, 10/24/2034 | 14660000 | &nbsp;&nbsp;&nbsp;&nbsp;697808 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/11/2032 | &nbsp;&nbsp;7880000 | &nbsp;&nbsp;&nbsp;&nbsp;384249 |
|  |  | 2670316 |
| **Finland – 0.4%** |  |  |
| Republic of Finland<br> 3.000%, 09/15/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;888228 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 94 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Germany – 0.4%** |  |  |
| Federal Republic of Germany<br> 2.200%, 02/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | $&nbsp;&nbsp;&nbsp;&nbsp;462692 |
| Federal Republic of Germany,<br> Zero Coupon |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, 08/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;271007 |
| &nbsp;&nbsp;&nbsp;0.000%, 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;242934 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;976633 |
| **India – 0.9%** |  |  |
| Republic of India |  |  |
| &nbsp;&nbsp;&nbsp;6.010%, 07/21/2030 | &nbsp;&nbsp;&nbsp;&nbsp;30600000 | &nbsp;&nbsp;&nbsp;&nbsp;336215 |
| &nbsp;&nbsp;&nbsp;6.100%, 07/12/2031 | &nbsp;&nbsp;&nbsp;&nbsp;14760000 | &nbsp;&nbsp;&nbsp;&nbsp;161106 |
| &nbsp;&nbsp;&nbsp;6.330%, 05/05/2035 | &nbsp;&nbsp;&nbsp;&nbsp;39350000 | &nbsp;&nbsp;&nbsp;&nbsp;429199 |
| &nbsp;&nbsp;&nbsp;6.450%, 10/07/2029 | &nbsp;&nbsp;&nbsp;&nbsp;18150000 | &nbsp;&nbsp;&nbsp;&nbsp;203094 |
| &nbsp;&nbsp;&nbsp;7.100%, 04/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp;108490000 | 1241370 |
|  |  | 2370984 |
| **Indonesia – 1.8%** |  |  |
| Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;1.100%, 03/12/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146000 | &nbsp;&nbsp;&nbsp;&nbsp;142049 |
| &nbsp;&nbsp;&nbsp;3.050%, 03/12/2051 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;133762 |
| &nbsp;&nbsp;&nbsp;6.375%, 04/15/2032 | 22122000000 | 1352055 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/15/2030 | 10064000000 | &nbsp;&nbsp;&nbsp;&nbsp;627019 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2031 | 19015000000 | 1171920 |
| &nbsp;&nbsp;&nbsp;6.625%, 05/15/2033 | &nbsp;&nbsp;6488000000 | &nbsp;&nbsp;&nbsp;&nbsp;400013 |
| &nbsp;&nbsp;&nbsp;8.750%, 05/15/2031 | &nbsp;&nbsp;9097000000 | &nbsp;&nbsp;&nbsp;&nbsp;617652 |
| &nbsp;&nbsp;&nbsp;9.000%, 03/15/2029 | &nbsp;&nbsp;3690000000 | &nbsp;&nbsp;&nbsp;&nbsp;244317 |
|  |  | 4688787 |
| **Japan – 0.8%** |  |  |
| Government of Japan<br> 0.600%, 12/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;338900000 | 2158104 |
| **New Zealand – 2.4%** |  |  |
| Government of New Zealand |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 05/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;234052 |
| &nbsp;&nbsp;&nbsp;1.750%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845000 | &nbsp;&nbsp;&nbsp;&nbsp;700323 |
| &nbsp;&nbsp;&nbsp;2.000%, 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;560169 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/14/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2630000 | 1448436 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3605000 | 2065418 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;292234 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;503381 |
| New Zealand Local Government<br> Funding Agency |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 04/14/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511000 | &nbsp;&nbsp;&nbsp;&nbsp;276299 |
| &nbsp;&nbsp;&nbsp;4.700%, 08/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;314796 |
|  |  | 6395108 |
| **Norway – 1.3%** |  |  |
| Kingdom of Norway |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 09/17/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6810000 | &nbsp;&nbsp;&nbsp;&nbsp;583240 |
| &nbsp;&nbsp;&nbsp;2.125%, 05/18/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;16005000 | 1421193 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3505000 | &nbsp;&nbsp;&nbsp;&nbsp;323477 |
| &nbsp;&nbsp;&nbsp;3.750%, 06/12/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;10805000 | 1037080 |
|  |  | 3364990 |
| **Philippines – 2.3%** |  |  |
| Republic of the Philippines |  |  |
| &nbsp;&nbsp;&nbsp;0.875%, 05/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp;895136 |
| &nbsp;&nbsp;&nbsp;6.250%, 02/28/2029 | &nbsp;&nbsp;&nbsp;&nbsp;30355000 | &nbsp;&nbsp;&nbsp;&nbsp;525466 |
| &nbsp;&nbsp;&nbsp;6.250%, 01/14/2036 | &nbsp;&nbsp;&nbsp;&nbsp;24000000 | &nbsp;&nbsp;&nbsp;&nbsp;405094 |
| &nbsp;&nbsp;&nbsp;6.375%, 07/27/2030 | &nbsp;&nbsp;&nbsp;&nbsp;73380000 | 1272911 |
| &nbsp;&nbsp;&nbsp;6.375%, 04/28/2035 | &nbsp;&nbsp;&nbsp;&nbsp;29020000 | &nbsp;&nbsp;&nbsp;&nbsp;504238 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp;77160000 | 1346901 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;48590000 | &nbsp;&nbsp;&nbsp;&nbsp;861310 |
| &nbsp;&nbsp;&nbsp;8.000%, 09/30/2035 | &nbsp;&nbsp;&nbsp;&nbsp;12020000 | &nbsp;&nbsp;&nbsp;&nbsp;231744 |
|  |  | 6042800 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **United Arab Emirates – 0.1%** |  |  |
| Government of Abu Dhabi<br> 3.875%, 04/16/2050 (A) | $&nbsp;&nbsp;395000 | $&nbsp;&nbsp;&nbsp;&nbsp;317192 |
| **United Kingdom – 1.2%** |  |  |
| Government of the United Kingdom |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/31/2033 | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;587972 |
| &nbsp;&nbsp;&nbsp;3.750%, 03/07/2027 | &nbsp;&nbsp;970000 | &nbsp;&nbsp;&nbsp;1308041 |
| &nbsp;&nbsp;&nbsp;4.125%, 07/22/2029 | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;564459 |
| &nbsp;&nbsp;&nbsp;4.250%, 07/31/2034 | &nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;772556 |
|  |  | &nbsp;&nbsp;&nbsp;3233028 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $50,452,603) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $50,452,603) | $49898927 |
| **CORPORATE BONDS – 45.2%** | **CORPORATE BONDS – 45.2%** |  |
| **Communication services – 3.6%** |  |  |
| Alphabet, Inc.<br> 3.000%, 05/06/2033 | &nbsp;&nbsp;587000 | &nbsp;&nbsp;&nbsp;&nbsp;678064 |
| Cellnex Finance Company SA<br> 2.000%, 09/15/2032 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;318690 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 07/01/2049 | $1050000 | &nbsp;&nbsp;&nbsp;&nbsp;821678 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2048 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;477672 |
| Match Group Holdings II LLC<br> 4.125%, 08/01/2030 (A) | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;265023 |
| NBN Company, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 08/28/2031 | 1970000 | &nbsp;&nbsp;&nbsp;1307475 |
| &nbsp;&nbsp;&nbsp;5.350%, 03/06/2035 | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;477008 |
| News Corp.<br> 3.875%, 05/15/2029 (A) | $&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;921753 |
| Sirius XM Radio LLC<br> 4.125%, 07/01/2030 (A) | 1115000 | &nbsp;&nbsp;&nbsp;1060440 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 03/15/2032 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;256222 |
| &nbsp;&nbsp;&nbsp;2.875%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74254 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2031 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;310720 |
| Virgin Media Secured Finance PLC<br> 4.250%, 01/15/2030 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;345855 |
| Vmed O2 UK Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 01/31/2031 (A) | $&nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;893769 |
| &nbsp;&nbsp;&nbsp;4.500%, 07/15/2031 (A) | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;400388 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/15/2032 (A) | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;378071 |
| &nbsp;&nbsp;&nbsp;6.750%, 01/15/2033 (A) | $&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;455876 |
|  |  | &nbsp;&nbsp;&nbsp;9442958 |
| **Consumer discretionary – 3.0%** |  |  |
| Carnival Corp.<br> 5.750%, 01/15/2030 (A) | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;403169 |
| Ford Motor Company<br> 3.250%, 02/12/2032 | $1152000 | &nbsp;&nbsp;&nbsp;1015105 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 11/13/2030 | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;240642 |
| &nbsp;&nbsp;&nbsp;5.625%, 10/09/2028 | &nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;687437 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.700%, (5.700% to 9-30-30, then 5 Year CMT + 4.997%), 09/30/2030 (B) | $&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;200816 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 9-30-28, then 3 month LIBOR + 3.436%), 09/30/2028 (B) | &nbsp;&nbsp;169000 | &nbsp;&nbsp;&nbsp;&nbsp;169341 |
| Hilton Domestic Operating<br> Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2032 (A) | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;255277 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/2030 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;391315 |
| NCL Corp., Ltd.<br> 6.750%, 02/01/2032 (A) | &nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;486363 |
| New Red Finance, Inc.<br> 3.875%, 01/15/2028 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;423873 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 95 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Royal Caribbean Cruises, Ltd.<br> 6.000%, 02/01/2033 (A) | $&nbsp;&nbsp;959000 | $&nbsp;&nbsp;&nbsp;&nbsp;985321 |
| Travel + Leisure Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 12/01/2029 (A) | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;362144 |
| &nbsp;&nbsp;&nbsp;6.125%, 09/01/2033 (A) | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;208085 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 03/15/2031 | 1175000 | 1111481 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/31/2032 | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;470397 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2030 (A) | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;373297 |
|  |  | 7784063 |
| **Consumer staples – 2.7%** |  |  |
| Bimbo Bakeries USA, Inc.<br> 5.375%, 01/09/2036 (A) | &nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;712522 |
| Darling Ingredients, Inc.<br> 6.000%, 06/15/2030 (A) | &nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp;955351 |
| JBS USA Lux SA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;290089 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;124000 | &nbsp;&nbsp;&nbsp;&nbsp;129544 |
| Kraft Heinz Foods Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 03/15/2033 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;565686 |
| &nbsp;&nbsp;&nbsp;4.375%, 06/01/2046 | $1080000 | &nbsp;&nbsp;&nbsp;&nbsp;892209 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/26/2039 | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;374218 |
| &nbsp;&nbsp;&nbsp;7.125%, 08/01/2039 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;395959 |
| MARB BondCo PLC<br> 3.950%, 01/29/2031 (A) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;493836 |
| Mars, Inc.<br> 5.200%, 03/01/2035 (A) | &nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;416271 |
| Performance Food Group, Inc.<br> 4.250%, 08/01/2029 (A) | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;298193 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2031 (A) | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;241752 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2033 (A) | &nbsp;&nbsp;935000 | &nbsp;&nbsp;&nbsp;&nbsp;944350 |
| &nbsp;&nbsp;&nbsp;6.500%, 03/15/2036 (A) | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;435588 |
|  |  | 7145568 |
| **Energy – 7.6%** |  |  |
| Aker BP ASA<br> 5.125%, 10/01/2034 (A) | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;410844 |
| Cenovus Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 02/07/2028 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;204616 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/15/2047 | $&nbsp;&nbsp;557000 | &nbsp;&nbsp;&nbsp;&nbsp;507659 |
| &nbsp;&nbsp;&nbsp;6.750%, 11/15/2039 | 1716000 | 1889361 |
| Civitas Resources, Inc.<br> 8.750%, 07/01/2031 (A) | &nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;897352 |
| Columbia Pipelines Operating Company LLC<br> 6.036%, 11/15/2033 (A) | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;406774 |
| Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 04/01/2032 (A) | 1341000 | 1170266 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2031 (A) | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;697262 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.200%, (7.200% to 6-27-34, then 5 Year CMT + 2.970%), 06/27/2054 | &nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;481797 |
| &nbsp;&nbsp;&nbsp;8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | &nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;951735 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 5-15-30, then 5 Year CMT + 5.306%), 05/15/2030 (B) | &nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;599013 |
| &nbsp;&nbsp;&nbsp;8.000%, (8.000% to 5-15-29, then 5 Year CMT + 4.020%), 05/15/2054 | &nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;912674 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 05/15/2031 (A) | 1065000 | 1001509 |
| &nbsp;&nbsp;&nbsp;5.750%, 02/01/2034 | &nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;255938 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Long Ridge Energy LLC<br> 8.750%, 02/15/2032 (A) | $&nbsp;&nbsp;370000 | $&nbsp;&nbsp;&nbsp;&nbsp;393843 |
| MC Brazil Downstream Trading Sarl<br> 7.250%, 06/30/2031 (A) | &nbsp;&nbsp;475738 | &nbsp;&nbsp;&nbsp;&nbsp;417203 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.550%, 10/01/2034 (C) | &nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp;861911 |
| &nbsp;&nbsp;&nbsp;6.125%, 01/01/2031 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;454479 |
| &nbsp;&nbsp;&nbsp;6.450%, 09/15/2036 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;149202 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/01/2031 | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;298173 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 08/15/2034 | &nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;918415 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/01/2038 | &nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;649654 |
| Phillips 66 Company<br> 6.200%, (6.200% to 3-15-36, then 5 Year CMT + 2.166%), 03/15/2056 | &nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;293791 |
| QatarEnergy<br> 3.300%, 07/12/2051 (A) | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;220267 |
| South Bow Canadian Infrastructure Holdings, Ltd.<br> 7.500%, (7.500% to 3-1-35, then 5 Year CMT + 3.667%), 03/01/2055 | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;475647 |
| Sunoco LP<br> 7.875%, (7.875% to 9-18-30, then 5 Year CMT + 4.230%), 09/18/2030 (A)(B) | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;626638 |
| The Williams Companies, Inc.<br> 5.300%, 09/30/2035 | &nbsp;&nbsp;618000 | &nbsp;&nbsp;&nbsp;&nbsp;628622 |
| TransCanada PipeLines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.200%, 10/15/2037 | &nbsp;&nbsp;443000 | &nbsp;&nbsp;&nbsp;&nbsp;471927 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 6-1-30, then 5 Year CMT + 2.614%), 06/01/2065 | &nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;695777 |
| &nbsp;&nbsp;&nbsp;7.250%, 08/15/2038 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;171809 |
| Transcanada Trust<br> 5.600%, (5.600% to 3-7-32, then 5 Year CMT + 3.986% to 3-7-52, then 5 Year CMT + 4.736%), 03/07/2082 | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;730879 |
| Var Energi ASA<br> 6.500%, 05/22/2035 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;496522 |
| Venture Global LNG, Inc.<br> 9.000%, (9.000% to 9-30-29, then 5 Year CMT + 5.440%), 09/30/2029 (A)(B) | &nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;734450 |
|  |  | 20076009 |
| **Financials – 12.4%** |  |  |
| American International Group, Inc.<br> 8.175%, (8.175% to 5-15-38, then 3 month LIBOR + 4.195%), 05/15/2058 | 1200000 | &nbsp;&nbsp;&nbsp;1326859 |
| Bank of America Corp.<br> 6.625%, (6.625% to 5-1-30, then 5 Year CMT + 2.684%), 05/01/2030 (B) | 1100000 | &nbsp;&nbsp;&nbsp;1146146 |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 11-26-30, then 5 Year CMT + 2.976%), 11/26/2085 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;524761 |
| &nbsp;&nbsp;&nbsp;7.300%, (7.300% to 11-26-34, then 5 Year CMT + 3.010%), 11/26/2084 | 1610000 | &nbsp;&nbsp;&nbsp;1716601 |
| &nbsp;&nbsp;&nbsp;7.325%, (7.325% to 11-26-27, then 5 Year Canada Government Bond Yield + 4.098%), 11/26/2082 | 1180000 | &nbsp;&nbsp;&nbsp;&nbsp;908356 |
| Barclays PLC<br> 7.625%, (7.625% to 9-15-35, then 5 Year SOFR ICE Swap Rate + 3.686%), 03/15/2035 (B) | $&nbsp;&nbsp;508000 | &nbsp;&nbsp;&nbsp;&nbsp;542022 |
| Berkshire Hathaway Finance Corp.<br> 2.375%, 06/19/2039 | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;445187 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 96 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 12-15-33, then 5 Year CMT + 2.853%), 12/15/2033 (A)(B) | $&nbsp;&nbsp;&nbsp;&nbsp;435000 | $&nbsp;&nbsp;&nbsp;&nbsp;436867 |
| &nbsp;&nbsp;&nbsp;7.375%, (7.375% to 9-10-34, then 5 Year CMT + 3.535%), 09/10/2034 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;386447 |
| Canadian Imperial Bank of Commerce<br> 7.000%, (7.000% to 10-28-30, then 5 Year CMT + 3.000%), 10/28/2085 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;625474 |
| ConnectOne Bancorp, Inc.<br> 8.125%, (8.125% to 6-1-30, then 3 month CME Term SOFR + 4.415%), 06/01/2035 | &nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;377400 |
| European Bank for Reconstruction & Development<br> 6.300%, 10/26/2027 | 13400000 | &nbsp;&nbsp;&nbsp;&nbsp;148991 |
| First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.254%, (6.254% to 3-12-35, then 5 Year CMT + 1.970%), 03/12/2040 | $&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;637418 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 12-15-30, then 5 Year CMT + 3.301%), 12/15/2030 (B) | &nbsp;&nbsp;1240000 | 1267874 |
| First Financial Bancorp<br> 6.375%, (6.375% to 12-1-30, then 3 month CME Term SOFR + 3.000%), 12/01/2035 | &nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;356331 |
| First Interstate BancSystem, Inc.<br> 7.625%, (7.625% to 6-15-30, then 3 month CME Term SOFR + 3.980%), 06/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;249900 |
| Five Star Bancorp<br> 6.000%, (6.000% to 9-1-27, then Overnight SOFR + 3.290%), 09/01/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;155727 |
| Flagstar Bank NA<br> 6.928%, (3 month CME Term SOFR + 3.042%), 11/06/2028 (D) | &nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;230918 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.476%, (Overnight SOFR + 1.570%), 05/13/2031 (D) | &nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp;958992 |
| &nbsp;&nbsp;&nbsp;6.950%, (6.950% to 2-27-32, then 5 Year CMT + 2.635%), 08/27/2031 (B) | &nbsp;&nbsp;&nbsp;&nbsp;569000 | &nbsp;&nbsp;&nbsp;&nbsp;590615 |
| &nbsp;&nbsp;&nbsp;7.050%, (7.050% to 12-5-30, then 5 Year CMT + 2.987%), 06/05/2030 (B) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;207907 |
| Huntington Bancshares, Inc.<br> 6.250%, (6.250% to 10-15-30, then 5 Year CMT + 2.653%), 10/15/2030 (B) | &nbsp;&nbsp;1376000 | 1377163 |
| ING Groep NV<br> 7.000%, (7.000% to 11-16-32, then 5 Year SOFR ICE Swap Rate + 3.594%), 11/16/2032 (B) | &nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;500706 |
| Inter-American Development Bank<br> 7.350%, 10/06/2030 | 44000000 | &nbsp;&nbsp;&nbsp;&nbsp;501017 |
| International Bank for Reconstruction &<br> Development |  |  |
| &nbsp;&nbsp;&nbsp;1.200%, 08/08/2034 | &nbsp;&nbsp;&nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;572170 |
| &nbsp;&nbsp;&nbsp;1.250%, 03/16/2026 | &nbsp;&nbsp;1610000 | &nbsp;&nbsp;&nbsp;&nbsp;158833 |
| &nbsp;&nbsp;&nbsp;6.500%, 04/17/2030 | 35000000 | &nbsp;&nbsp;&nbsp;&nbsp;381858 |
| &nbsp;&nbsp;&nbsp;6.850%, 04/24/2028 | 36500000 | &nbsp;&nbsp;&nbsp;&nbsp;405047 |
| International Development Association<br> 1.750%, 02/17/2027 | &nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;107368 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Lloyds Banking Group PLC<br> 6.625%, (6.625% to 9-27-35, then 5 Year CMT + 2.681%), 09/27/2035 (B) | $&nbsp;&nbsp;745000 | $&nbsp;&nbsp;&nbsp;&nbsp;743766 |
| MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 09/01/2030 (A) | &nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;463258 |
| &nbsp;&nbsp;&nbsp;3.625%, 11/01/2031 (A) | &nbsp;&nbsp;344000 | &nbsp;&nbsp;&nbsp;&nbsp;322938 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 (A) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;249716 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2036 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;506268 |
| Nordic Investment Bank<br> 4.000%, 11/04/2026 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;198139 |
| Popular, Inc.<br> 7.250%, 03/13/2028 | $&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;437335 |
| Provident Financial Services, Inc.<br> 9.000%, (9.000% to 5-15-29, then 3 month CME Term SOFR + 4.765%), 05/15/2034 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;361036 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, (4.200% to 2-24-27, then 5 Year Canada Government Bond Yield + 2.710%), 02/24/2027 (B) | 1415000 | &nbsp;&nbsp;&nbsp;&nbsp;986701 |
| &nbsp;&nbsp;&nbsp;6.350%, (6.350% to 11-24-34, then 5 Year CMT + 2.257%), 11/24/2084 | $&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;747583 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 8-24-30, then 5 Year CMT + 2.815%), 08/24/2085 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;243878 |
| &nbsp;&nbsp;&nbsp;7.500%, (7.500% to 5-2-29, then 5 Year CMT + 2.887%), 05/02/2084 | &nbsp;&nbsp;813000 | &nbsp;&nbsp;&nbsp;&nbsp;861227 |
| Simmons First National Corp.<br> 6.250%, (6.250% to 10-1-30, then 3 month CME Term SOFR + 3.020%), 10/01/2035 | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;463101 |
| Societe Generale SA<br> 8.125%, (8.125% to 5-21-30, then 5 Year CMT + 3.790%), 11/21/2029 (A)(B) | &nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;910796 |
| South State Bank NA<br> 8.375%, (8.375% to 11-15-29, then 3 month CME Term SOFR + 4.605%), 08/15/2034 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;425000 |
| Southside Bancshares, Inc.<br> 7.000%, (7.000% to 8-15-30, then 3 month CME Term SOFR + 3.570%), 08/15/2035 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;529941 |
| Standard Chartered PLC<br> 7.000%, (7.000% to 5-14-36, then 5 Year CMT + 2.873%), 11/14/2035 (A)(B) | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;473418 |
| Synovus Bank<br> 5.957%, (5.957% to 1-15-31, then 5 Year CMT + 2.300%), 01/15/2036 | &nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;764218 |
| The Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 10-27-35, then 5 Year CMT + 2.734%), 10/27/2085 | 1115000 | 1143177 |
| &nbsp;&nbsp;&nbsp;8.625%, (8.625% to 10-27-27, then 5 Year CMT + 4.389%), 10/27/2082 | &nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;748745 |
| The PNC Financial Services Group, Inc.<br> 3.400%, (3.400% to 9-15-26, then 5 Year CMT + 2.595%), 09/15/2026 (B) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;421546 |
| The Toronto-Dominion Bank<br> 8.125%, (8.125% to 10-31-27, then 5 Year CMT + 4.075%), 10/31/2082 | &nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp;822544 |
| U.S. Bancorp<br> 3.700%, (3.700% to 1-15-27, then 5 Year CMT + 2.541%), 01/15/2027 (B) | &nbsp;&nbsp;297000 | &nbsp;&nbsp;&nbsp;&nbsp;289841 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 97 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| UBS Group AG<br> 7.125%, (7.125% to 2-10-35, then 5 Year SOFR ICE Swap Rate + 3.179%), 08/10/2034 (A)(B) | $&nbsp;&nbsp;825000 | $&nbsp;&nbsp;&nbsp;&nbsp;845431 |
| Wells Fargo & Company<br> 3.900%, (3.900% to 7-22-31, then 3 month EURIBOR + 1.220%), 07/22/2032 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;480816 |
| Western Alliance Bancorp<br> 3.000%, (3.000% to 6-15-26, then 3 month CME Term SOFR + 2.250%), 06/15/2031 | $&nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;754534 |
|  |  | 32439908 |
| **Health care – 1.9%** |  |  |
| Allergan Funding SCS<br> 2.625%, 11/15/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;342422 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 03/01/2031 | $&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;431786 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2030 | 1145000 | &nbsp;&nbsp;&nbsp;1024246 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2030 | &nbsp;&nbsp;970000 | &nbsp;&nbsp;&nbsp;&nbsp;892627 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2029 | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;140642 |
| HCA, Inc.<br> 5.600%, 04/01/2034 | &nbsp;&nbsp;995000 | &nbsp;&nbsp;&nbsp;1037705 |
| Rede D'Or Finance Sarl |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 01/22/2030 (A) | &nbsp;&nbsp;207000 | &nbsp;&nbsp;&nbsp;&nbsp;200862 |
| &nbsp;&nbsp;&nbsp;4.950%, 01/17/2028 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;200002 |
| Teva Pharmaceutical Finance Netherlands II BV<br> 4.375%, 05/09/2030 | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;566467 |
| Teva Pharmaceutical Finance Netherlands III BV<br> 4.100%, 10/01/2046 | $&nbsp;&nbsp;337000 | &nbsp;&nbsp;&nbsp;&nbsp;254841 |
|  |  | &nbsp;&nbsp;&nbsp;5091600 |
| **Industrials – 4.0%** |  |  |
| AECOM<br> 6.000%, 08/01/2033 (A) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;819888 |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 1-31-31, then 5 Year CMT + 2.441%), 01/31/2056 | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;587945 |
| &nbsp;&nbsp;&nbsp;6.950%, (6.950% to 3-10-30, then 5 Year CMT + 2.720%), 03/10/2055 | &nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;743963 |
| Airbus SE<br> 1.625%, 06/09/2030 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;155944 |
| American Airlines, Inc.<br> 5.750%, 04/20/2029 (A) | $1235000 | &nbsp;&nbsp;&nbsp;1257649 |
| CACI International, Inc.<br> 6.375%, 06/15/2033 (A) | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;455259 |
| DAE Funding LLC<br> 3.375%, 03/20/2028 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;194737 |
| JetBlue Airways Corp.<br> 9.875%, 09/20/2031 (A) | &nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;710260 |
| Johnson Controls International PLC<br> 0.375%, 09/15/2027 | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;147215 |
| Stanley Black & Decker, Inc.<br> 6.707%, (6.707% to 3-15-30, then 5 Year CMT + 2.657%), 03/15/2060 | $1455000 | &nbsp;&nbsp;&nbsp;1457331 |
| The Boeing Company<br> 5.805%, 05/01/2050 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;501633 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 01/31/2034 (A) | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;166029 |
| &nbsp;&nbsp;&nbsp;6.750%, 01/31/2034 (A) | &nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;369798 |
| &nbsp;&nbsp;&nbsp;7.125%, 12/01/2031 (A) | 1274000 | &nbsp;&nbsp;&nbsp;1338936 |
| Uber Technologies, Inc.<br> 4.800%, 09/15/2034 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;279919 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| United Airlines, Inc.<br> 4.625%, 04/15/2029 (A) | $&nbsp;&nbsp;225000 | $&nbsp;&nbsp;&nbsp;&nbsp;224024 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;610371 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;387751 |
|  |  | 10408652 |
| **Information technology – 1.1%** |  |  |
| Cloud Software Group, Inc.<br> 6.625%, 08/15/2033 (A) | &nbsp;&nbsp;938000 | &nbsp;&nbsp;&nbsp;&nbsp;929612 |
| CoreWeave, Inc.<br> 9.250%, 06/01/2030 (A) | 1095000 | &nbsp;&nbsp;&nbsp;1018101 |
| Dell International LLC<br> 8.350%, 07/15/2046 | &nbsp;&nbsp;421000 | &nbsp;&nbsp;&nbsp;&nbsp;534048 |
| Gartner, Inc.<br> 3.750%, 10/01/2030 (A) | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;403029 |
|  |  | &nbsp;&nbsp;&nbsp;2884790 |
| **Materials – 2.8%** |  |  |
| Ball Corp.<br> 2.875%, 08/15/2030 | 1105000 | &nbsp;&nbsp;&nbsp;1021690 |
| Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/15/2030 (A) | 1210000 | &nbsp;&nbsp;&nbsp;1244342 |
| &nbsp;&nbsp;&nbsp;7.375%, 05/01/2033 (A) | 1030000 | &nbsp;&nbsp;&nbsp;1071234 |
| &nbsp;&nbsp;&nbsp;7.625%, 01/15/2034 (A) | &nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;694939 |
| Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 11/04/2044 (A) | &nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;301670 |
| &nbsp;&nbsp;&nbsp;6.440%, 01/26/2036 (A) | &nbsp;&nbsp;332000 | &nbsp;&nbsp;&nbsp;&nbsp;360013 |
| Freeport-McMoRan, Inc.<br> 5.450%, 03/15/2043 | 1820000 | &nbsp;&nbsp;&nbsp;1761835 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2032 (A) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;353899 |
| &nbsp;&nbsp;&nbsp;6.750%, 03/01/2033 (A) | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;214080 |
| Sealed Air Corp.<br> 5.000%, 04/15/2029 (A) | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;236545 |
|  |  | &nbsp;&nbsp;&nbsp;7260247 |
| **Real estate – 1.7%** |  |  |
| American Tower Corp.<br> 4.625%, 05/16/2031 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;299901 |
| American Tower Trust I<br> 5.490%, 03/15/2028 (A) | $&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;406698 |
| BW Real Estate, Inc.<br> 9.500%, (9.500% to 3-30-30, then 5 Year CMT + 5.402%), 03/30/2030 (A)(B) | &nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;189387 |
| Host Hotels & Resorts LP<br> 3.375%, 12/15/2029 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;158286 |
| SBA Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 02/01/2029 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;540448 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2027 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;367212 |
| SBA Tower Trust<br> 6.599%, 01/15/2028 (A) | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;537585 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2030 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;698173 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;513528 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/01/2035 | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;750574 |
|  |  | &nbsp;&nbsp;&nbsp;4461792 |
| **Utilities – 4.4%** |  |  |
| American Electric Power Company, Inc.<br> 6.950%, (6.950% to 12-15-34, then 5 Year CMT + 2.675%), 12/15/2054 | 1075000 | &nbsp;&nbsp;&nbsp;1150613 |
| CMS Energy Corp.<br> 6.500%, (6.500% to 6-1-35, then 5 Year CMT + 1.961%), 06/01/2055 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;221078 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 98 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |  |
| Dominion Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 5-15-35, then 5 Year CMT + 2.207%), 05/15/2055 | $| &nbsp;&nbsp;730000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752234 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-1-30, then 5 Year CMT + 2.386%), 02/01/2055 |  | &nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576882 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 6-1-34, then 5 Year CMT + 2.511%), 06/01/2054 |  | &nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665892 |
| Duke Energy Corp.<br> 6.450%, (6.450% to 9-1-34, then 5 Year CMT + 2.588%), 09/01/2054 |  | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209916 |
| E.ON SE<br> 0.625%, 11/07/2031 | EUR | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326999 |
| Emera, Inc.<br> 6.750%, (6.750% to 6-15-26, then 3 month LIBOR + 5.440% to 6-15-46, then 3 month LIBOR + 6.190%), 06/15/2076 | $| &nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894074 |
| EUSHI Finance, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 4-1-31, then 5 Year CMT + 2.509%), 04/01/2056 |  | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733449 |
| &nbsp;&nbsp;&nbsp;7.625%, (7.625% to 12-15-29, then 5 Year CMT + 3.136%), 12/15/2054 |  | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262812 |
| Exelon Corp.<br> 6.500%, (6.500% to 3-15-35, then 5 Year CMT + 1.975%), 03/15/2055 |  | &nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967704 |
| NextEra Energy Capital Holdings, Inc.<br> 6.500%, (6.500% to 8-15-35, then 5 Year CMT + 1.979%), 08/15/2055 |  | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326600 |
| NRG Energy, Inc.<br> 6.000%, 01/15/2036 (A) |  | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577549 |
| Sempra<br> 6.550%, (6.550% to 4-1-35, then 5 Year CMT + 2.138%), 04/01/2055 |  | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540249 |
| Spire, Inc.<br> 6.450%, (6.450% to 6-1-36, then 5 Year CMT + 2.327%), 06/01/2056 |  | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303822 |
| The AES Corp.<br> 7.600%, (7.600% to 1-15-30, then 5 Year CMT + 3.201%), 01/15/2055 |  | 2305000 | &nbsp;&nbsp;&nbsp;&nbsp;2347430 |
| The Southern Company<br> 6.375%, (6.375% to 3-15-35, then 5 Year CMT + 2.069%), 03/15/2055 |  | &nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714921 |
|  |  |  | &nbsp;&nbsp;&nbsp;11572224 |
| TOTAL CORPORATE BONDS (Cost $117,309,325) | TOTAL CORPORATE BONDS (Cost $117,309,325) |  | $118567811 |
| **CONVERTIBLE BONDS – 1.7%** | **CONVERTIBLE BONDS – 1.7%** | **CONVERTIBLE BONDS – 1.7%** |  |
| **Consumer discretionary – 0.2%** |  |  |  |
| Burlington Stores, Inc.<br> 1.250%, 12/15/2027 |  | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592400 |
| **Utilities – 1.5%** |  |  |  |
| CenterPoint Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 08/01/2028 (A) |  | &nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602259 |
| &nbsp;&nbsp;&nbsp;4.250%, 08/15/2026 |  | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667035 |
| CMS Energy Corp.<br> 3.125%, 05/01/2031 (A) |  | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489209 |
| Exelon Corp.<br> 3.250%, 03/15/2029 (A) |  | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523425 |
| FirstEnergy Corp.<br> 3.875%, 01/15/2031 (A) |  | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656360 |
| The Southern Company<br> 3.250%, 06/15/2028 (A) |  | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339320 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| TXNM Energy, Inc.<br> 5.750%, 06/01/2054 | &nbsp;&nbsp;435000 | $&nbsp;&nbsp;&nbsp;&nbsp;583466 |
|  |  | 3861074 |
| TOTAL CONVERTIBLE BONDS (Cost $4,045,530) |  | $4453474 |
| **TERM LOANS (E) – 9.0%** | **TERM LOANS (E) – 9.0%** |  |
| **Communication services – 0.5%** |  |  |
| Delta 2 Lux Sarl, 2024 Term Loan B1 (3 month CME Term SOFR + 1.750%) 5.422%, 09/30/2031 | &nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;567415 |
| TKO Worldwide Holdings LLC, 2025 Term Loan (3 month CME Term SOFR + 2.000%) 5.868%, 11/21/2031 | &nbsp;&nbsp;615239 | &nbsp;&nbsp;&nbsp;&nbsp;617713 |
|  |  | 1185128 |
| **Consumer discretionary – 2.4%** |  |  |
| Aramark Services, Inc., 2025 Repriced Term Loan (1 month CME Term SOFR + 1.750%) 5.471%, 04/06/2028 | &nbsp;&nbsp;129000 | &nbsp;&nbsp;&nbsp;&nbsp;129097 |
| Aramark Services, Inc., 2025 Term Loan (1 month CME Term SOFR + 1.750%) 5.471%, 06/22/2030 | &nbsp;&nbsp;468541 | &nbsp;&nbsp;&nbsp;&nbsp;469525 |
| Clarios Global LP, 2025 USD Term Loan B (1 month CME Term SOFR + 2.750%) 6.466%, 01/28/2032 | 1037400 | 1041290 |
| Great Outdoors Group LLC, 2025 Term Loan B (1 month CME Term SOFR + 3.250%) 6.966%, 01/23/2032 | 1539966 | 1547666 |
| Hilton Domestic Operating Company, Inc., 2023 Term Loan B4 (1 month CME Term SOFR + 1.750%) 5.477%, 11/08/2030 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;543046 |
| KFC Holding Company, 2021 Term Loan B (1 month CME Term SOFR + 1.750%) 5.599%, 03/15/2028 | &nbsp;&nbsp;401161 | &nbsp;&nbsp;&nbsp;&nbsp;401787 |
| New Red Finance, Inc., 2024 Term Loan B6 (1 month CME Term SOFR + 1.750%) 5.466%, 09/20/2030 | 1085091 | 1085428 |
| Travel + Leisure Company, 2025 Repriced Term Loan (3 month CME Term SOFR + 2.000%) 5.738%, 12/14/2029 | 1017196 | 1018183 |
|  |  | 6236022 |
| **Consumer staples – 0.5%** |  |  |
| Opal US LLC, USD Term Loan B4 (3 month CME Term SOFR + 3.000%) 6.686%, 04/28/2032 | 1281788 | 1288594 |
| **Energy – 0.5%** |  |  |
| Hilcorp Energy I LP, Term Loan B (1 month CME Term SOFR + 2.000%) 5.736%, 02/11/2030 | &nbsp;&nbsp;748904 | &nbsp;&nbsp;&nbsp;&nbsp;749376 |
| Long Ridge Energy LLC, Term Loan B (3 month CME Term SOFR + 4.500%) 8.172%, 02/19/2032 | &nbsp;&nbsp;539818 | &nbsp;&nbsp;&nbsp;&nbsp;533972 |
|  |  | 1283348 |
| **Financials – 0.1%** |  |  |
| Superannuation & Investments US LLC, 2025 Repriced Term Loan (1 month CME Term SOFR + 3.000%) 6.716%, 12/01/2028 | &nbsp;&nbsp;283575 | &nbsp;&nbsp;&nbsp;&nbsp;284638 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 99 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (E) (continued)** | **TERM LOANS (E) (continued)** |  |
| **Health care – 0.5%** |  |  |
| Medline Borrower LP, 2025 Incremental Term Loan B (1 month CME Term SOFR + 1.750%) 5.466%, 10/23/2030 | $1418367 | $1422948 |
| **Industrials – 2.4%** |  |  |
| AAdvantage Loyalty IP, Ltd., 2025 Term Loan (3 month CME Term SOFR + 2.250%) 6.134%, 04/20/2028 | &nbsp;&nbsp;217159 | &nbsp;&nbsp;&nbsp;&nbsp;217539 |
| AAdvantage Loyalty IP, Ltd., 2025 Term Loan B (3 month CME Term SOFR + 3.250%) 7.134%, 05/28/2032 | &nbsp;&nbsp;677500 | &nbsp;&nbsp;&nbsp;&nbsp;680467 |
| AECOM, 2024 Term Loan (1 month CME Term SOFR + 1.750%) 5.466%, 04/18/2031 | &nbsp;&nbsp;638528 | &nbsp;&nbsp;&nbsp;&nbsp;643432 |
| AS Mileage Plan IP, Ltd., 2025 Repriced Term Loan B (3 month CME Term SOFR + 1.750%) 5.634%, 10/15/2031 | &nbsp;&nbsp;399308 | &nbsp;&nbsp;&nbsp;&nbsp;400973 |
| CACI International, Inc., Term Loan B (1 month CME Term SOFR + 1.750%) 5.466%, 10/30/2031 | &nbsp;&nbsp;822523 | &nbsp;&nbsp;&nbsp;&nbsp;822696 |
| Clean Harbors, Inc., 2025 Term Loan (1 month CME Term SOFR + 1.500%) 5.216%, 10/08/2032 | &nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;509207 |
| Dynasty Acquisition Company, Inc., 2024 1st Lien Term Loan B1 (1 month CME Term SOFR + 2.000%) 5.716%, 10/31/2031 | &nbsp;&nbsp;232834 | &nbsp;&nbsp;&nbsp;&nbsp;233602 |
| Dynasty Acquisition Company, Inc., 2024 1st Lien Term Loan B2 (1 month CME Term SOFR + 2.000%) 5.716%, 10/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp;88563 | &nbsp;&nbsp;&nbsp;&nbsp;88855 |
| Gloves Buyer, Inc., 2025 Term Loan (1 month CME Term SOFR + 4.000%) 7.716%, 05/21/2032 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;745178 |
| JetBlue Airways Corp., 2024 Term Loan B (3 month CME Term SOFR + 4.750%) 8.445%, 08/27/2029 | &nbsp;&nbsp;691971 | &nbsp;&nbsp;&nbsp;&nbsp;661179 |
| TransDigm, Inc., 2023 Term Loan J (1 month CME Term SOFR + 2.500%) 6.216%, 02/28/2031 | &nbsp;&nbsp;229585 | &nbsp;&nbsp;&nbsp;&nbsp;230365 |
| TransDigm, Inc., 2024 Term Loan L (1 month CME Term SOFR + 2.500%) 6.216%, 01/19/2032 | &nbsp;&nbsp;141523 | &nbsp;&nbsp;&nbsp;&nbsp;142048 |
| TransDigm, Inc., 2025 Term Loan K (1 month CME Term SOFR + 2.250%) 5.966%, 03/22/2030 | &nbsp;&nbsp;&nbsp;&nbsp;82855 | &nbsp;&nbsp;&nbsp;&nbsp;83079 |
| United Airlines, Inc., 2024 1st Lien Term Loan B (1 month CME Term SOFR + 2.000%) 5.732%, 02/22/2031 | &nbsp;&nbsp;591293 | &nbsp;&nbsp;&nbsp;&nbsp;593144 |
| United Rentals North America, Inc., 2025 Repriced Term Loan B (1 month CME Term SOFR + 1.500%) 5.216%, 02/14/2031 | &nbsp;&nbsp;301495 | &nbsp;&nbsp;&nbsp;&nbsp;302625 |
|  |  | 6354389 |
| **Information technology – 0.8%** |  |  |
| Clearwater Analytics LLC, 2025 Term Loan B (6 month CME Term SOFR + 2.000%) 6.210%, 04/21/2032 | &nbsp;&nbsp;718200 | &nbsp;&nbsp;&nbsp;&nbsp;716857 |
| Cloud Software Group, Inc., 2025 Term Loan B (3 month CME Term SOFR + 3.250%) 6.922%, 03/21/2031 | &nbsp;&nbsp;915744 | &nbsp;&nbsp;&nbsp;&nbsp;916458 |
| Kaseya, Inc., 2025 1st Lien Term Loan B (1 month CME Term SOFR + 3.000%) 6.716%, 03/20/2032 | &nbsp;&nbsp;584592 | &nbsp;&nbsp;&nbsp;&nbsp;584674 |
|  |  | 2217989 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (E) (continued)** | **TERM LOANS (E) (continued)** |  |
| **Materials – 0.8%** |  |  |
| Clydesdale Acquisition Holdings, Inc., 2025 Delayed Draw Term Loan (1 month CME Term SOFR + 3.250%) 6.966%, 04/01/2032 | $&nbsp;&nbsp;&nbsp;&nbsp;9515 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9502 |
| Clydesdale Acquisition Holdings, Inc., 2025 Term Loan B (1 and 3 month CME Term SOFR + 3.250%) 6.966%, 04/01/2032 | &nbsp;&nbsp;674369 | &nbsp;&nbsp;&nbsp;&nbsp;673466 |
| Quikrete Holdings, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 5.966%, 02/10/2032 | 1448381 | &nbsp;&nbsp;&nbsp;1452523 |
|  |  | &nbsp;&nbsp;&nbsp;2135491 |
| **Utilities – 0.5%** |  |  |
| NRG Energy, Inc., 2024 Term Loan (3 month CME Term SOFR + 1.750%) 5.593%, 04/16/2031 | 1323563 | &nbsp;&nbsp;&nbsp;1326647 |
| TOTAL TERM LOANS (Cost $23,748,889) | TOTAL TERM LOANS (Cost $23,748,889) | $23735194 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 5.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 5.2%** |  |
| **Commercial and residential – 2.2%** |  |  |
| Arroyo Mortgage Trust<br> Series 2019-1, Class A1<br> 3.805%, 01/25/2049 (A)(F) | &nbsp;&nbsp;131867 | &nbsp;&nbsp;&nbsp;&nbsp;128994 |
| BOCA Commercial Mortgage Trust<br> Series 2025-BOCA, Class A (1 month CME Term SOFR + 1.600%)<br> 5.450%, 12/15/2042 (A)(D) | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;275343 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-CIP, Class A (1 month CME Term SOFR + 1.035%),<br> 4.785%, 12/15/2038 (A)(D) | &nbsp;&nbsp;224310 | &nbsp;&nbsp;&nbsp;&nbsp;224341 |
| &nbsp;&nbsp;&nbsp;Series 2024-XL5, Class A (1 month CME Term SOFR + 1.392%),<br> 5.142%, 03/15/2041 (A)(D) | &nbsp;&nbsp;538411 | &nbsp;&nbsp;&nbsp;&nbsp;538742 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (A) | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;326051 |
| &nbsp;&nbsp;&nbsp;Series 2024-BIO, Class D (1 month CME Term SOFR + 3.639%),<br> 7.389%, 02/15/2041 (A)(D) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;296255 |
| &nbsp;&nbsp;&nbsp;Series 2025-VOLT, Class D (1 month CME Term SOFR + 2.750%),<br> 6.500%, 12/15/2044 (A)(D) | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;235000 |
| Citigroup Commercial Mortgage Trust<br> Series 2023-SMRT, Class A<br> 5.820%, 10/12/2040 (A)(F) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;267944 |
| Credit Suisse Mortgage Capital Certificates<br> Series 2019-NQM1, Class A1<br> 3.656%, 10/25/2059 (A) | &nbsp;&nbsp;&nbsp;&nbsp;19346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19209 |
| Firstmac Mortgage Funding Trust No. 4<br> Series 2024-4, Class A1 (1 month BBSW + 1.080%)<br> 4.628%, 02/18/2056 (D) | &nbsp;&nbsp;613982 | &nbsp;&nbsp;&nbsp;&nbsp;411028 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2007-3, Class ES IO,<br> 0.350%, 05/19/2037 (A) | $2555140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39903 |
| &nbsp;&nbsp;&nbsp;Series 2007-4, Class ES IO,<br> 0.350%, 07/19/2037 | 2610481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40154 |
| &nbsp;&nbsp;&nbsp;Series 2007-6, Class ES IO,<br> 0.343%, 08/19/2037 (A) | 2853670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32502 |
| InTown Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-STAY, Class B (1 month CME Term SOFR + 1.750%),<br> 5.500%, 03/15/2042 (A)(D) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;340212 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 100 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| InTown Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-STAY, Class C (1 month CME Term SOFR + 2.250%),<br> 6.000%, 03/15/2042 (A)(D) | $285000 | $&nbsp;&nbsp;&nbsp;&nbsp;285356 |
| Life Mortgage Trust<br> Series 2022-BMR2, Class B (1 month CME Term SOFR + 1.794%)<br> 5.544%, 05/15/2039 (A)(D) | 875000 | &nbsp;&nbsp;&nbsp;&nbsp;790746 |
| Mortgage House RMBS Prime<br> Series 2024-2, Class A1L (1 month BBSW + 1.110%)<br> 4.648%, 05/13/2057 (D) | 398774 | &nbsp;&nbsp;&nbsp;&nbsp;267014 |
| NYC Commercial Mortgage Trust<br> Series 2025-3BP, Class A (1 month CME Term SOFR + 1.213%)<br> 4.963%, 02/15/2042 (A)(D) | $280000 | &nbsp;&nbsp;&nbsp;&nbsp;277730 |
| ROCK Trust<br> Series 2024-CNTR, Class D<br> 7.109%, 11/13/2041 (A) | 605000 | &nbsp;&nbsp;&nbsp;&nbsp;633919 |
| SCOTT Trust<br> Series 2023-SFS, Class AS<br> 6.204%, 03/10/2040 (A) | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;167865 |
| Verus Securitization Trust<br> Series 2024-1, Class A1 (5.712% to 1-1-28, then 6.712% thereafter)<br> 5.712%, 01/25/2069 (A) | 114088 | &nbsp;&nbsp;&nbsp;&nbsp;114641 |
|  |  | 5712949 |
| **U.S. Government Agency – 3.0%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1A (30 day Average SOFR + 2.200%),<br> 6.074%, 05/25/2042 (A)(D) | 154737 | &nbsp;&nbsp;&nbsp;&nbsp;155940 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1B (30 day Average SOFR + 3.350%),<br> 7.224%, 05/25/2042 (A)(D) | 860000 | &nbsp;&nbsp;&nbsp;&nbsp;887417 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA6, Class M1A (30 day Average SOFR + 2.150%),<br> 6.024%, 09/25/2042 (A)(D) | 165512 | &nbsp;&nbsp;&nbsp;&nbsp;166369 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA7, Class M1A (30 day Average SOFR + 2.500%),<br> 6.374%, 03/25/2052 (A)(D) | 153653 | &nbsp;&nbsp;&nbsp;&nbsp;155180 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M1B (30 day Average SOFR + 3.500%),<br> 7.374%, 03/25/2042 (A)(D) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;205044 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA3, Class M1B (30 day Average SOFR + 3.550%),<br> 7.424%, 08/25/2042 (A)(D) | 570000 | &nbsp;&nbsp;&nbsp;&nbsp;592797 |
| &nbsp;&nbsp;&nbsp;Series 2024-HQA1, Class M2 (30 day Average SOFR + 2.000%),<br> 5.874%, 03/25/2044 (A)(D) | 730000 | &nbsp;&nbsp;&nbsp;&nbsp;734498 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA4, Class M2 (30 day Average SOFR + 1.550%),<br> 5.424%, 10/25/2045 (A)(D) | 275000 | &nbsp;&nbsp;&nbsp;&nbsp;276220 |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class M1 (30 day Average SOFR + 1.150%),<br> 5.024%, 02/25/2045 (A)(D) | 310597 | &nbsp;&nbsp;&nbsp;&nbsp;310881 |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class M2 (30 day Average SOFR + 1.650%),<br> 5.524%, 02/25/2045 (A)(D) | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;420511 |
| &nbsp;&nbsp;&nbsp;Series 2025-MN12, Class B1 (30 day Average SOFR + 4.500%),<br> 8.374%, 11/25/2045 (A)(D) | 695000 | &nbsp;&nbsp;&nbsp;&nbsp;695113 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-R02, Class 2B2 (30 day Average SOFR + 6.200%),<br> 10.074%, 11/25/2041 (A)(D) | 285000 | $&nbsp;&nbsp;&nbsp;&nbsp;295450 |
| &nbsp;&nbsp;&nbsp;Series 2022-R05, Class 2M2 (30 day Average SOFR + 3.000%),<br> 6.874%, 04/25/2042 (A)(D) | 575000 | &nbsp;&nbsp;&nbsp;&nbsp;587698 |
| &nbsp;&nbsp;&nbsp;Series 2022-R09, Class 2M1 (30 day Average SOFR + 2.500%),<br> 6.374%, 09/25/2042 (A)(D) | 374884 | &nbsp;&nbsp;&nbsp;&nbsp;379980 |
| &nbsp;&nbsp;&nbsp;Series 2023-R01, Class 1M1 (30 day Average SOFR + 2.400%),<br> 6.274%, 12/25/2042 (A)(D) | 280978 | &nbsp;&nbsp;&nbsp;&nbsp;286561 |
| &nbsp;&nbsp;&nbsp;Series 2023-R03, Class 2M2 (30 day Average SOFR + 3.900%),<br> 7.774%, 04/25/2043 (A)(D) | 195000 | &nbsp;&nbsp;&nbsp;&nbsp;205043 |
| &nbsp;&nbsp;&nbsp;Series 2023-R06, Class 1M2 (30 day Average SOFR + 2.700%),<br> 6.574%, 07/25/2043 (A)(D) | 245000 | &nbsp;&nbsp;&nbsp;&nbsp;251786 |
| &nbsp;&nbsp;&nbsp;Series 2024-R02, Class 1M1 (30 day Average SOFR + 1.100%),<br> 4.974%, 02/25/2044 (A)(D) | 241742 | &nbsp;&nbsp;&nbsp;&nbsp;241592 |
| &nbsp;&nbsp;&nbsp;Series 2025-R02, Class 1M2 (30 day Average SOFR + 1.600%),<br> 5.474%, 02/25/2045 (A)(D) | 445000 | &nbsp;&nbsp;&nbsp;&nbsp;445138 |
| &nbsp;&nbsp;&nbsp;Series 2025-R04, Class 1M1 (30 day Average SOFR + 1.200%),<br> 5.074%, 05/25/2045 (A)(D) | 296148 | &nbsp;&nbsp;&nbsp;&nbsp;296827 |
| &nbsp;&nbsp;&nbsp;Series 2025-R06, Class 1B1 (30 day Average SOFR + 1.850%),<br> 5.724%, 09/25/2045 (A)(D) | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;336326 |
|  |  | &nbsp;&nbsp;&nbsp;7926371 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $13,465,612) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $13,465,612) | $13639320 |
| **ASSET-BACKED SECURITIES – 1.7%** | **ASSET-BACKED SECURITIES – 1.7%** |  |
| AutoNation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class C<br> 5.190%, 12/10/2030 (A) | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;269925 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class D<br> 5.630%, 09/10/2032 (A) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;173132 |
| Consolidated Communications LLC<br> Series 2025-4A, Class A2<br> 5.522%, 12/20/2055 (A) | 475000 | &nbsp;&nbsp;&nbsp;&nbsp;477297 |
| DataBank Issuer<br> Series 2023-1A, Class A2<br> 5.116%, 02/25/2053 (A) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;198907 |
| DB Master Finance LLC<br> Series 2025-1A, Class A2II<br> 5.165%, 08/20/2055 (A) | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;265277 |
| Domino's Pizza Master Issuer LLC<br> Series 2025-1A, Class A2II<br> 5.217%, 07/25/2055 (A) | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;176174 |
| Driven Brands Funding LLC<br> Series 2020-2A, Class A2<br> 3.237%, 01/20/2051 (A) | 353124 | &nbsp;&nbsp;&nbsp;&nbsp;342179 |
| Home Partners of America Trust<br> Series 2019-1, Class B<br> 3.157%, 09/17/2039 (A) | 179113 | &nbsp;&nbsp;&nbsp;&nbsp;175384 |
| Jersey Mike's Funding LLC<br> Series 2024-1A, Class A2<br> 5.636%, 02/15/2055 (A) | 803925 | &nbsp;&nbsp;&nbsp;&nbsp;820084 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 101 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| MetroNet Infrastructure Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class B<br> 5.590%, 08/20/2055 (A) | 480000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483793 |
| &nbsp;&nbsp;&nbsp;Series 2025-4A, Class C<br> 7.112%, 12/20/2055 (A) | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266764 |
| OCCU Auto Receivables Trust<br> Series 2022-1A, Class A3<br> 5.500%, 10/15/2027 (A) | &nbsp;&nbsp;&nbsp;1521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1522 |
| Taco Bell Funding LLC<br> Series 2025-1A, Class A2II<br> 5.049%, 08/25/2055 (A) | 505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503088 |
| Zayo Issuer LLC<br> Series 2025-1A, Class A2<br> 5.648%, 03/20/2055 (A) | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315294 |
| TOTAL ASSET-BACKED SECURITIES (Cost $4,425,789) |  | $&nbsp;&nbsp;&nbsp;4468820 |
| **PREFERRED SECURITIES – 4.0%** |  |  |
| **Financials – 2.1%** |  |  |
| Bank of Hawaii Corp., 8.000% | &nbsp;&nbsp;18200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486850 |
| Citizens Financial Group, Inc., 6.500% (6.500% to 10-6-30, then 5 Year CMT + 2.629%) | &nbsp;&nbsp;45950 | &nbsp;&nbsp;&nbsp;&nbsp;1166671 |
| Comerica, Inc., 6.875% (6.875% to 10-1-30, then 5 Year CMT + 3.125%) | &nbsp;&nbsp;39675 | &nbsp;&nbsp;&nbsp;&nbsp;1035518 |
| First Busey Corp., 8.250% | &nbsp;&nbsp;16925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435819 |
| Huntington Bancshares, Inc., 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692 |
| Live Oak Bancshares, Inc., 8.375% | &nbsp;&nbsp;13025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332789 |
| UMB Financial Corp., 7.750% (7.750% to 7-15-30, then 5 Year CMT + 3.743%) | &nbsp;&nbsp;25250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681750 |
| WesBanco, Inc., 7.375% (7.375% to 10-1-30, then 5 Year CMT + 3.795%) | &nbsp;&nbsp;37475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966480 |
| Wintrust Financial Corp., 7.875% (7.875% to 7-15-30, then 5 Year CMT + 3.878%) | &nbsp;&nbsp;14525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376052 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5483621 |
| **Industrials – 0.8%** |  |  |
| QXO, Inc., 5.500% | &nbsp;&nbsp;23550 | &nbsp;&nbsp;&nbsp;&nbsp;1298783 |
| The Boeing Company, 6.000% | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1920323 |
| **Information technology – 0.2%** |  |  |
| Hewlett Packard Enterprise Company, 7.625% | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600210 |
| **Utilities – 0.9%** |  |  |
| NextEra Energy, Inc., 7.234% | &nbsp;&nbsp;31300 | &nbsp;&nbsp;&nbsp;&nbsp;1525875 |
| The Southern Company, 7.125% | &nbsp;&nbsp;18200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916552 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2442427 |
| TOTAL PREFERRED SECURITIES (Cost $9,723,482) | TOTAL PREFERRED SECURITIES (Cost $9,723,482) | $&nbsp;&nbsp;&nbsp;10446581 |
| **SHORT-TERM INVESTMENTS – 3.2%** | **SHORT-TERM INVESTMENTS – 3.2%** |  |
| **Short-term funds – 3.2%** |  |  |
| John Hancock Collateral Trust, 3.7477% (G)(H) | 839042 | &nbsp;&nbsp;&nbsp;&nbsp;8393942 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $8,393,628) | TOTAL SHORT-TERM INVESTMENTS (Cost $8,393,628) | $&nbsp;&nbsp;&nbsp;&nbsp;8393942 |
| **Total Investments (Strategic Income Opportunities Trust)<br> (Cost $258,258,285) – 99.2%** | **Total Investments (Strategic Income Opportunities Trust)<br> (Cost $258,258,285) – 99.2%** | $**260508797** |
| **Other assets and liabilities, net – 0.8%** |  | &nbsp;&nbsp;&nbsp;**2045478** |
| **TOTAL NET ASSETS – 100.0%** |  | $**262554275** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CNY | Chinese Yuan Renminbi |
| CZK | Czech Republic Koruna |
| EUR | Euro |
| GBP | Pound Sterling |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PHP | Philippine Peso |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| BBSW | Bank Bill Swap Rate |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | This security is 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 $66,453,354 or 25.3% of the fund's net assets as of 12-31-25. |
| (B) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (C) | All or a portion of this security is on loan as of 12-31-25. |
| (D) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (E) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
| (F) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (G) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (H) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $881,971. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 102 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) &nbsp;&nbsp;&nbsp;&nbsp;

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;$3781235 | &nbsp;&nbsp;&nbsp;&nbsp;$3748023 | &nbsp;&nbsp;&nbsp;&nbsp;$(33212) |
| 10-Year Canada Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(624537) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(616641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7896 |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1018744) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1011938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6806 |
| Euro-BTP Italian Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4253954) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4237066) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16888 |
| Euro-OAT Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(427334) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(425152) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(350526) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(346781) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3745 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4305** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| AUD | &nbsp;&nbsp;1176667 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1346843 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;$9395 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;4706667 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;5387444 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;37539 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;5326078 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3833677 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;59385 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1220000 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;14505402 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(4276) |
| EUR | &nbsp;&nbsp;1220000 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;14494027 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3148) |
| EUR | &nbsp;&nbsp;6437171 | &nbsp;&nbsp;USD | &nbsp;&nbsp;7555961 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;34511 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1330854 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1553485 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;15808 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;2242523 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2628215 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;16085 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;3986548 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4661223 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;39567 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;345000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;462100 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;2858 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;368769526 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2361666 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4023) |
| JPY | &nbsp;&nbsp;369148644 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2361666 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1599) |
| JPY | &nbsp;&nbsp;172341611 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1130000 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(26912) |
| JPY | &nbsp;&nbsp;1555400049 | &nbsp;&nbsp;USD | &nbsp;&nbsp;10170000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;(214522) |
| JPY | &nbsp;&nbsp;172248725 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1130000 | &nbsp;&nbsp;BNY | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(27507) |
| JPY | &nbsp;&nbsp;345003690 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2260000 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(51773) |
| JPY | &nbsp;&nbsp;344527960 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2260000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(54818) |
| NOK | &nbsp;&nbsp;15166113 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1263333 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;18863 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;14130708 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1176667 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;18067 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;6633439 | &nbsp;&nbsp;USD | &nbsp;&nbsp;658727 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(805) |
| NOK | &nbsp;&nbsp;5304309 | &nbsp;&nbsp;USD | &nbsp;&nbsp;526982 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(886) |
| NZD | &nbsp;&nbsp;2702803 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;2353333 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(13538) |
| NZD | &nbsp;&nbsp;4047244 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;3530000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(24317) |
| USD | &nbsp;&nbsp;3889919 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;5400388 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(57461) |
| USD | &nbsp;&nbsp;8316343 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;7100023 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(55740) |
| USD | &nbsp;&nbsp;8150166 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;6954576 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(50412) |
| USD | &nbsp;&nbsp;5486610 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;4123122 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(70136) |
| USD | &nbsp;&nbsp;2394089 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;369994215 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;28616 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;2361666 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;367923955 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;9429 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;2260000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;344729213 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;53530 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;6803463 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;1036934602 | &nbsp;&nbsp;BNY | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;166473 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1130000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;172558718 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;25522 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;3390000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;517743140 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;76138 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;3392500 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;517556360 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;2/4/2026 | &nbsp;&nbsp;79834 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;2867281 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;52897016 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(49437) |
| USD | &nbsp;&nbsp;680516 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;12507867 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9162) |
| USD | &nbsp;&nbsp;29637 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;297392 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;131 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1281354 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;12912850 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;3/18/2026 | &nbsp;&nbsp;622 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 103 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;9142 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;15760 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/22/2026 | &nbsp;&nbsp;$62 | &nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;**$692435** | &nbsp;&nbsp;**$(720472)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### WRITTEN OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** |
| **Description** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Notional<br> amount\*** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Calls** |  |  |  |  |  |  |  |
| U.S. Dollar vs. Japanese Yen | &nbsp;&nbsp;UBS | &nbsp;&nbsp;USD | &nbsp;&nbsp;155.00 | &nbsp;&nbsp;Feb 2026 | &nbsp;&nbsp;9040000 | &nbsp;&nbsp;$103146 | &nbsp;&nbsp;$(131143) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$103146** | &nbsp;&nbsp;**$(131143)** |
| \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | Pound Sterling |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| ANZ | Australia and New Zealand Banking Group Limited |
| BARC | Barclays Bank PLC |
| BNY | The Bank of New York Mellon |
| BOA | Bank of America, N.A. |
| CITI | Citibank, N.A. |
| GSI | Goldman Sachs International |
| HUS | HSBC Bank USA, N.A. |
| JPM | JPMorgan Chase Bank, N.A. |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |
| RBC | Royal Bank of Canada |
| SCB | Standard Chartered Bank |
| SSB | State Street Bank and Trust Company |
| UBS | UBS AG |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Total Bond Market Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 71.3%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 71.3%** |  |
| **U.S. Government – 46.5%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6025000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883998 |
| &nbsp;&nbsp;&nbsp;2.000%, 11/15/2041 to 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11061797 |
| &nbsp;&nbsp;&nbsp;2.250%, 08/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254297 |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2143359 |
| &nbsp;&nbsp;&nbsp;2.875%, 05/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076074 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2047 to 02/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21995000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16430236 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3346200 |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2053 to 05/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5114042 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2725816 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5202891 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527029 |

---

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Bonds (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2039 to 08/15/2054 | $18999000 | $17468556 |
| &nbsp;&nbsp;&nbsp;4.375%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp;760013 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2044 | &nbsp;&nbsp;1910000 | &nbsp;&nbsp;&nbsp;1847776 |
| &nbsp;&nbsp;&nbsp;4.625%, 02/15/2040 to 11/15/2055 | 11091000 | 10974278 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2041 to 08/15/2055 | 16171000 | 15962505 |
| &nbsp;&nbsp;&nbsp;4.875%, 08/15/2045 | &nbsp;&nbsp;1976000 | &nbsp;&nbsp;&nbsp;1995143 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/15/2045 | &nbsp;&nbsp;5555000 | &nbsp;&nbsp;&nbsp;5702555 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 01/31/2027 | &nbsp;&nbsp;6825000 | &nbsp;&nbsp;&nbsp;6679169 |
| &nbsp;&nbsp;&nbsp;2.250%, 11/15/2027 | 19795000 | 19355798 |
| &nbsp;&nbsp;&nbsp;2.875%, 05/15/2028 | &nbsp;&nbsp;4800000 | &nbsp;&nbsp;&nbsp;4731563 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 104 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Notes (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 09/15/2028 | $10000000 | $&nbsp;&nbsp;&nbsp;&nbsp;9958984 |
| &nbsp;&nbsp;&nbsp;3.500%, 11/30/2030 | 19173000 | &nbsp;&nbsp;&nbsp;18979772 |
| &nbsp;&nbsp;&nbsp;3.625%, 08/15/2028 to 09/30/2030 | 25770000 | &nbsp;&nbsp;&nbsp;25696671 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/30/2027 to 11/30/2032 | 33147000 | &nbsp;&nbsp;&nbsp;33262146 |
| &nbsp;&nbsp;&nbsp;3.875%, 03/31/2027 to 09/30/2032 | 52031000 | &nbsp;&nbsp;&nbsp;52323711 |
| &nbsp;&nbsp;&nbsp;4.000%, 12/15/2027 to 11/15/2035 | 57502000 | &nbsp;&nbsp;&nbsp;57773274 |
| &nbsp;&nbsp;&nbsp;4.125%, 02/28/2027 to 11/15/2032 | 62936000 | &nbsp;&nbsp;&nbsp;63768022 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/30/2026 to 08/15/2035 | 41146000 | &nbsp;&nbsp;&nbsp;41651228 |
| &nbsp;&nbsp;&nbsp;4.375%, 07/15/2027 to 01/31/2032 | 12613000 | &nbsp;&nbsp;&nbsp;12912040 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2027 to 11/15/2033 | 25100000 | &nbsp;&nbsp;&nbsp;25826215 |
| &nbsp;&nbsp;&nbsp;4.625%, 06/15/2027 to 05/31/2031 | 20120000 | &nbsp;&nbsp;&nbsp;20816332 |
|  |  | 501211490 |
| **U.S. Government Agency – 24.8%** |  |  |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;4.100%, 08/28/2029 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999268 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/15/2036 | &nbsp;&nbsp;1690000 | &nbsp;&nbsp;&nbsp;&nbsp;1849319 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 12/01/2036 to 03/01/2051 | &nbsp;&nbsp;4501498 | &nbsp;&nbsp;&nbsp;&nbsp;3665943 |
| &nbsp;&nbsp;&nbsp;2.000%, 07/01/2035 to 12/01/2051 | &nbsp;&nbsp;7842112 | &nbsp;&nbsp;&nbsp;&nbsp;6520630 |
| &nbsp;&nbsp;&nbsp;2.500%, 04/01/2031 to 05/01/2052 | 10967586 | &nbsp;&nbsp;&nbsp;&nbsp;9409819 |
| &nbsp;&nbsp;&nbsp;3.000%, 07/01/2032 to 08/01/2052 | &nbsp;&nbsp;9852105 | &nbsp;&nbsp;&nbsp;&nbsp;8891593 |
| &nbsp;&nbsp;&nbsp;3.500%, 01/01/2034 to 07/01/2052 | &nbsp;&nbsp;5794001 | &nbsp;&nbsp;&nbsp;&nbsp;5422477 |
| &nbsp;&nbsp;&nbsp;4.000%, 12/01/2039 to 09/01/2047 | &nbsp;&nbsp;&nbsp;&nbsp;910530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885133 |
| &nbsp;&nbsp;&nbsp;4.500%, 07/01/2029 to 07/01/2052 | &nbsp;&nbsp;5499660 | &nbsp;&nbsp;&nbsp;&nbsp;5429397 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/01/2035 to 07/01/2053 | &nbsp;&nbsp;4130162 | &nbsp;&nbsp;&nbsp;&nbsp;4143401 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/01/2027 to 07/01/2055 | 10292202 | &nbsp;&nbsp;&nbsp;10501829 |
| &nbsp;&nbsp;&nbsp;6.000%, 10/01/2036 to 05/01/2055 | 10805848 | &nbsp;&nbsp;&nbsp;11175820 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509682 |
| &nbsp;&nbsp;&nbsp;6.500%, 08/01/2037 to 09/01/2053 | &nbsp;&nbsp;1440029 | &nbsp;&nbsp;&nbsp;&nbsp;1514915 |
| &nbsp;&nbsp;&nbsp;6.585%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.836%), 08/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;199713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206933 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/15/2029 | &nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;1328723 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/01/2029 to 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4657 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2030 to 03/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2522 |
| &nbsp;&nbsp;&nbsp;8.000%, 02/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 11/01/2036 to 02/01/2051 | &nbsp;&nbsp;4723943 | &nbsp;&nbsp;&nbsp;&nbsp;4089924 |
| &nbsp;&nbsp;&nbsp;2.000%, 02/01/2035 to 06/01/2052 | 49004005 | &nbsp;&nbsp;&nbsp;40982783 |
| &nbsp;&nbsp;&nbsp;2.500%, 05/01/2028 to 04/01/2052 | 27310568 | &nbsp;&nbsp;&nbsp;23781664 |
| &nbsp;&nbsp;&nbsp;3.000%, 01/01/2027 to 03/01/2052 | 14129621 | &nbsp;&nbsp;&nbsp;12854977 |
| &nbsp;&nbsp;&nbsp;3.500%, 01/01/2036 to 07/01/2052 | &nbsp;&nbsp;9234021 | &nbsp;&nbsp;&nbsp;&nbsp;8681599 |
| &nbsp;&nbsp;&nbsp;4.000%, 02/01/2031 to 04/01/2053 | 13063802 | &nbsp;&nbsp;&nbsp;12609266 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502628 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/01/2033 to 07/01/2053 | &nbsp;&nbsp;3754626 | &nbsp;&nbsp;&nbsp;&nbsp;3711740 |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703959 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2034 to 10/01/2054 | &nbsp;&nbsp;7974555 | &nbsp;&nbsp;&nbsp;&nbsp;8028650 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;1490000 | &nbsp;&nbsp;&nbsp;&nbsp;1510779 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/01/2034 to 02/01/2055 | &nbsp;&nbsp;5939241 | &nbsp;&nbsp;&nbsp;&nbsp;6072612 |
| &nbsp;&nbsp;&nbsp;5.625%, 07/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550918 |
| &nbsp;&nbsp;&nbsp;5.954%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.411%), 07/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;27122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27521 |
| &nbsp;&nbsp;&nbsp;6.000%, 07/01/2027 to 07/01/2055 | &nbsp;&nbsp;4791479 | &nbsp;&nbsp;&nbsp;&nbsp;4949283 |
| &nbsp;&nbsp;&nbsp;6.307%, (1 Year CMT + 2.185%), 05/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;26359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26983 |
| &nbsp;&nbsp;&nbsp;6.335%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.335%), 01/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7869 |
| &nbsp;&nbsp;&nbsp;6.376%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.580%), 09/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;28937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29805 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/01/2031 to 12/01/2053 | &nbsp;&nbsp;1838416 | &nbsp;&nbsp;&nbsp;&nbsp;1924544 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.875%), 04/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;36031 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37330 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/01/2031 to 10/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;20257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21626 |
| &nbsp;&nbsp;&nbsp;7.125%, 01/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235932 |
| &nbsp;&nbsp;&nbsp;7.250%, 05/15/2030 | &nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;&nbsp;1656367 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2030 to 08/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9015 |
| &nbsp;&nbsp;&nbsp;8.000%, 08/01/2030 to 09/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056 |
| &nbsp;&nbsp;&nbsp;8.500%, 09/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 11/20/2050 to 08/20/2051 | 10690898 | &nbsp;&nbsp;&nbsp;&nbsp;8853630 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/20/2050 to 11/20/2051 | 11236196 | &nbsp;&nbsp;&nbsp;&nbsp;9699553 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2043 to 05/20/2053 | &nbsp;&nbsp;8599704 | &nbsp;&nbsp;&nbsp;&nbsp;7782805 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2042 to 01/20/2052 | &nbsp;&nbsp;6432078 | &nbsp;&nbsp;&nbsp;&nbsp;5987948 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2026 to 03/20/2053 | &nbsp;&nbsp;5249391 | &nbsp;&nbsp;&nbsp;&nbsp;5033298 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2033 to 07/20/2053 | &nbsp;&nbsp;5285728 | &nbsp;&nbsp;&nbsp;&nbsp;5199718 |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503775 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/15/2033 to 10/20/2054 | &nbsp;&nbsp;6269600 | &nbsp;&nbsp;&nbsp;&nbsp;6294609 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605791 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/15/2032 to 02/20/2055 | &nbsp;&nbsp;7371647 | &nbsp;&nbsp;&nbsp;&nbsp;7480215 |
| &nbsp;&nbsp;&nbsp;6.000%, 07/15/2029 to 06/20/2055 | &nbsp;&nbsp;4397095 | &nbsp;&nbsp;&nbsp;&nbsp;4500635 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/15/2028 to 11/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp;670390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696887 |
| &nbsp;&nbsp;&nbsp;7.000%, 08/15/2029 to 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7728 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/15/2030 to 01/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2335 |
|  |  | 268120084 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $806,842,175) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $806,842,175) | $769331574 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 0.8%** | **FOREIGN GOVERNMENT OBLIGATIONS – 0.8%** |  |
| **Chile – 0.1%** |  |  |
| Republic of Chile<br> 3.100%, 05/07/2041 | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519379 |
| **Indonesia – 0.1%** |  |  |
| Republic of Indonesia<br> 3.850%, 10/15/2030 | &nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;1031231 |
| **Italy – 0.1%** |  |  |
| Republic of Italy<br> 5.375%, 06/15/2033 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1055538 |
| **Japan – 0.1%** |  |  |
| Japan Bank for International Cooperation<br> 3.500%, 10/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824940 |
| **Mexico – 0.3%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 01/11/2028 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1980000 |
| &nbsp;&nbsp;&nbsp;6.050%, 01/11/2040 | &nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925350 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2905350 |
| **Panama – 0.0%** |  |  |
| Republic of Panama<br> 6.700%, 01/26/2036 | &nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397602 |
| **Peru – 0.0%** |  |  |
| Republic of Peru<br> 6.550%, 03/14/2037 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276275 |
| **Poland – 0.1%** |  |  |
| Republic of Poland<br> 5.125%, 09/18/2034 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1024165 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,086,352) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,086,352) | $&nbsp;&nbsp;&nbsp;&nbsp;8034480 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 105 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS – 24.8%** | **CORPORATE BONDS – 24.8%** |  |
| **Communication services – 1.8%** |  |  |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.100%, 08/15/2030 | $&nbsp;&nbsp;300000 | $&nbsp;&nbsp;&nbsp;&nbsp;264426 |
| &nbsp;&nbsp;&nbsp;2.050%, 08/15/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;217748 |
| &nbsp;&nbsp;&nbsp;4.700%, 11/15/2035 | &nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;543133 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 12/01/2033 | &nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;567558 |
| &nbsp;&nbsp;&nbsp;3.800%, 12/01/2057 | &nbsp;&nbsp;644000 | &nbsp;&nbsp;&nbsp;&nbsp;442970 |
| &nbsp;&nbsp;&nbsp;4.750%, 05/15/2046 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;606504 |
| &nbsp;&nbsp;&nbsp;4.850%, 07/15/2045 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;443910 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2042 | &nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;109409 |
| &nbsp;&nbsp;&nbsp;5.400%, 02/15/2034 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;829484 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2041 | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;405083 |
| British Telecommunications PLC<br> 9.625%, 12/15/2030 | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;250246 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;539889 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/30/2029 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;424878 |
| &nbsp;&nbsp;&nbsp;5.375%, 05/01/2047 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;432466 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.350%, 01/15/2027 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;270762 |
| &nbsp;&nbsp;&nbsp;2.887%, 11/01/2051 | &nbsp;&nbsp;256000 | &nbsp;&nbsp;&nbsp;&nbsp;149707 |
| &nbsp;&nbsp;&nbsp;3.450%, 02/01/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;334281 |
| &nbsp;&nbsp;&nbsp;3.999%, 11/01/2049 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;401874 |
| &nbsp;&nbsp;&nbsp;4.049%, 11/01/2052 | 1065000 | &nbsp;&nbsp;&nbsp;&nbsp;779010 |
| &nbsp;&nbsp;&nbsp;4.600%, 10/15/2038 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;186202 |
| &nbsp;&nbsp;&nbsp;6.500%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;79839 |
| Deutsche Telekom International Finance BV<br> 8.750%, 06/15/2030 | &nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;187856 |
| Fox Corp.<br> 3.500%, 04/08/2030 | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;621407 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 05/15/2028 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;254609 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/15/2033 | &nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp;766596 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/15/2055 | &nbsp;&nbsp;551000 | &nbsp;&nbsp;&nbsp;&nbsp;528834 |
| Netflix, Inc.<br> 4.875%, 04/15/2028 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;326852 |
| Paramount Global<br> 4.950%, 05/19/2050 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;346639 |
| Rogers Communications, Inc.<br> 4.500%, 03/15/2042 | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;628227 |
| TCI Communications, Inc.<br> 7.125%, 02/15/2028 | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;116842 |
| Telefonica Emisiones SA<br> 7.045%, 06/20/2036 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;256591 |
| Telefonica Europe BV<br> 8.250%, 09/15/2030 | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;436047 |
| The Walt Disney Company |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 01/13/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;374151 |
| &nbsp;&nbsp;&nbsp;6.200%, 12/15/2034 | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;538792 |
| Time Warner Cable Enterprises LLC<br> 8.375%, 07/15/2033 | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;657743 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2041 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;320414 |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;624443 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2050 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;576561 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2054 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;735859 |
| TWDC Enterprises 18 Corp.<br> 4.125%, 06/01/2044 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;441365 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.680%, 10/30/2030 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;177347 |
| &nbsp;&nbsp;&nbsp;2.875%, 11/20/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;309986 |
| &nbsp;&nbsp;&nbsp;4.016%, 12/03/2029 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;530922 |
| &nbsp;&nbsp;&nbsp;4.522%, 09/15/2048 | 1335000 | 1116931 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| Vodafone Group PLC<br> 6.150%, 02/27/2037 | $&nbsp;&nbsp;330000 | $&nbsp;&nbsp;&nbsp;&nbsp;358536 |
|  |  | 19512929 |
| **Consumer discretionary – 1.6%** |  |  |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 05/12/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;361367 |
| &nbsp;&nbsp;&nbsp;2.500%, 06/03/2050 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;478143 |
| &nbsp;&nbsp;&nbsp;4.050%, 08/22/2047 | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;369648 |
| &nbsp;&nbsp;&nbsp;4.700%, 12/01/2032 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;770985 |
| American Honda Finance Corp.<br> 1.800%, 01/13/2031 | &nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;551567 |
| AutoZone, Inc.<br> 3.750%, 06/01/2027 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;632236 |
| Booking Holdings, Inc.<br> 3.550%, 03/15/2028 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;317407 |
| Choice Hotels International, Inc.<br> 3.700%, 01/15/2031 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;190383 |
| D.R. Horton, Inc.<br> 1.400%, 10/15/2027 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;210549 |
| Expedia Group, Inc.<br> 3.250%, 02/15/2030 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;287722 |
| Ford Motor Credit Company LLC<br> 6.798%, 11/07/2028 | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;755366 |
| General Motors Company<br> 5.400%, 04/01/2048 (C) | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;286060 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 10/15/2028 | &nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;328969 |
| &nbsp;&nbsp;&nbsp;3.100%, 01/12/2032 | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;346366 |
| &nbsp;&nbsp;&nbsp;3.600%, 06/21/2030 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;404570 |
| &nbsp;&nbsp;&nbsp;5.350%, 07/15/2027 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;305206 |
| &nbsp;&nbsp;&nbsp;5.900%, 01/07/2035 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;364384 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/04/2034 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;230247 |
| Honda Motor Company, Ltd.<br> 5.337%, 07/08/2035 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;306534 |
| Lennar Corp.<br> 4.750%, 11/29/2027 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;317525 |
| Lowe's Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, 04/05/2029 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;592255 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/01/2032 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;527036 |
| Marriott International, Inc.<br> 5.250%, 10/15/2035 | &nbsp;&nbsp;524000 | &nbsp;&nbsp;&nbsp;&nbsp;531074 |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 03/03/2035 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;505724 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/17/2029 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;566051 |
| NIKE, Inc.<br> 2.850%, 03/27/2030 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;238453 |
| President and Fellows of Harvard College<br> 4.887%, 03/15/2030 | 1000000 | &nbsp;&nbsp;&nbsp;1031346 |
| Starbucks Corp.<br> 3.550%, 08/15/2029 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;309348 |
| The Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 03/15/2031 | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;559918 |
| &nbsp;&nbsp;&nbsp;2.700%, 04/15/2030 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;614606 |
| &nbsp;&nbsp;&nbsp;4.250%, 04/01/2046 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;262477 |
| &nbsp;&nbsp;&nbsp;5.875%, 12/16/2036 | &nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;168083 |
| The TJX Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;398409 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2050 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;457872 |
| Toll Brothers Finance Corp.<br> 3.800%, 11/01/2029 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;196711 |
| Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.150%, 08/13/2027 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;508753 |
| &nbsp;&nbsp;&nbsp;1.900%, 09/12/2031 | &nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;640466 |
| &nbsp;&nbsp;&nbsp;3.050%, 01/11/2028 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;522481 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 106 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Trustees of Dartmouth College<br> 4.273%, 06/01/2030 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;504400 |
| Yale University<br> 4.701%, 04/15/2032 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;102870 |
|  |  | 17053567 |
| **Consumer staples – 1.5%** |  |  |
| Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, 02/04/2041 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;328627 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/02/2043 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;426535 |
| Anheuser-Busch Companies LLC<br> 4.900%, 02/01/2046 | &nbsp;&nbsp;464000 | &nbsp;&nbsp;&nbsp;&nbsp;429149 |
| Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 01/23/2031 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;352278 |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2034 | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;346236 |
| &nbsp;&nbsp;&nbsp;5.450%, 01/23/2039 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;258813 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.726%, 03/25/2031 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;599287 |
| &nbsp;&nbsp;&nbsp;5.625%, 08/15/2035 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;520814 |
| Constellation Brands, Inc.<br> 4.500%, 05/09/2047 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;309337 |
| Costco Wholesale Corp.<br> 1.600%, 04/20/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;475539 |
| Diageo Capital PLC<br> 2.000%, 04/29/2030 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;274227 |
| General Mills, Inc.<br> 2.875%, 04/15/2030 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;600461 |
| JBS USA Lux SA |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 02/02/2052 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;291497 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;444003 |
| Kellanova<br> 5.250%, 03/01/2033 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;207369 |
| Kenvue, Inc.<br> 4.900%, 03/22/2033 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;535714 |
| Keurig Dr. Pepper, Inc.<br> 4.597%, 05/25/2028 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;529232 |
| Kimberly-Clark Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 07/30/2046 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;214025 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/16/2033 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;222918 |
| Kraft Heinz Foods Company |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 06/01/2046 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;413060 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/30/2029 | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;293802 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/26/2039 | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44683 |
| Molson Coors Beverage Company |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 07/15/2046 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;120425 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/01/2042 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;138502 |
| Mondelez International, Inc.<br> 4.625%, 05/07/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;244562 |
| PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;495036 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/05/2042 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;232040 |
| &nbsp;&nbsp;&nbsp;4.600%, 02/07/2030 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;291501 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/15/2040 | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;319815 |
| Philip Morris International, Inc.<br> 6.375%, 05/16/2038 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;334318 |
| Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 03/23/2035 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51789 |
| &nbsp;&nbsp;&nbsp;6.600%, 04/01/2050 | 1000000 | &nbsp;&nbsp;&nbsp;1098599 |
| Target Corp.<br> 3.900%, 11/15/2047 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;409061 |
| The Coca-Cola Company |  |  |
| &nbsp;&nbsp;&nbsp;2.125%, 09/06/2029 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;400236 |
| &nbsp;&nbsp;&nbsp;2.500%, 06/01/2040 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;319712 |
| The Estee Lauder Companies, Inc.<br> 2.600%, 04/15/2030 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;596198 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer staples (continued)** |  |  |
| The Kroger Company |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, 02/01/2047 | $300000 | $&nbsp;&nbsp;&nbsp;&nbsp;252395 |
| &nbsp;&nbsp;&nbsp;5.000%, 09/15/2034 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;301657 |
| The Procter & Gamble Company<br> 3.600%, 03/25/2050 | 630000 | &nbsp;&nbsp;&nbsp;&nbsp;480109 |
| Tyson Foods, Inc.<br> 4.350%, 03/01/2029 | 425000 | &nbsp;&nbsp;&nbsp;&nbsp;426090 |
| Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 07/08/2029 | 640000 | &nbsp;&nbsp;&nbsp;&nbsp;630157 |
| &nbsp;&nbsp;&nbsp;4.050%, 06/29/2048 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;433758 |
|  |  | 15693566 |
| **Energy – 1.8%** |  |  |
| Baker Hughes Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.337%, 12/15/2027 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;494395 |
| &nbsp;&nbsp;&nbsp;4.486%, 05/01/2030 | 550000 | &nbsp;&nbsp;&nbsp;&nbsp;553831 |
| Berry Global, Inc.<br> 5.500%, 04/15/2028 | 280000 | &nbsp;&nbsp;&nbsp;&nbsp;288365 |
| BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.893%, 09/11/2033 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;534091 |
| &nbsp;&nbsp;&nbsp;5.017%, 11/17/2027 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;535379 |
| Canadian Natural Resources, Ltd.<br> 6.250%, 03/15/2038 | 305000 | &nbsp;&nbsp;&nbsp;&nbsp;323490 |
| Cenovus Energy, Inc.<br> 5.400%, 06/15/2047 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;273425 |
| Chevron USA, Inc.<br> 4.300%, 10/15/2030 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;302899 |
| ConocoPhillips Company |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 11/15/2044 | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;278927 |
| &nbsp;&nbsp;&nbsp;5.000%, 01/15/2035 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;304155 |
| Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2045 | 885000 | &nbsp;&nbsp;&nbsp;&nbsp;769921 |
| &nbsp;&nbsp;&nbsp;7.875%, 09/30/2031 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;242657 |
| Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 01/30/2030 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;334284 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/18/2054 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;189007 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 07/15/2027 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;298419 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/10/2044 | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;283769 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/08/2033 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;552976 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 05/15/2030 | 455000 | &nbsp;&nbsp;&nbsp;&nbsp;442791 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2027 | 635000 | &nbsp;&nbsp;&nbsp;&nbsp;645256 |
| &nbsp;&nbsp;&nbsp;6.125%, 12/15/2045 | 370000 | &nbsp;&nbsp;&nbsp;&nbsp;363198 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/01/2042 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;263272 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 02/15/2052 | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;464326 |
| &nbsp;&nbsp;&nbsp;4.850%, 08/15/2042 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;300871 |
| &nbsp;&nbsp;&nbsp;4.950%, 02/15/2035 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;202327 |
| &nbsp;&nbsp;&nbsp;6.875%, 03/01/2033 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;147249 |
| Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.995%, 08/16/2039 | 425000 | &nbsp;&nbsp;&nbsp;&nbsp;340103 |
| &nbsp;&nbsp;&nbsp;3.482%, 03/19/2030 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;508487 |
| Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2041 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80096 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/01/2039 | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;194119 |
| Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 02/01/2029 | 625000 | &nbsp;&nbsp;&nbsp;&nbsp;639475 |
| &nbsp;&nbsp;&nbsp;5.550%, 06/01/2045 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;386729 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, 02/15/2029 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;426273 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2033 | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;316480 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/01/2047 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;138509 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/01/2055 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;192906 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 08/01/2029 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;256248 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 107 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Occidental Petroleum Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 01/01/2032 | $&nbsp;&nbsp;100000 | $&nbsp;&nbsp;&nbsp;&nbsp;102400 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2030 | &nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;414477 |
| ONEOK Partners LP<br> 6.650%, 10/01/2036 | &nbsp;&nbsp;288000 | &nbsp;&nbsp;&nbsp;&nbsp;313443 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, 11/01/2028 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;405047 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2053 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;523647 |
| Ovintiv, Inc.<br> 6.500%, 08/15/2034 | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;311509 |
| Phillips 66<br> 4.650%, 11/15/2034 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;538865 |
| Phillips 66 Company<br> 3.750%, 03/01/2028 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;228416 |
| Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 01/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80451 |
| &nbsp;&nbsp;&nbsp;4.900%, 02/15/2045 | &nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;345486 |
| Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 05/11/2045 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;861240 |
| &nbsp;&nbsp;&nbsp;6.375%, 12/15/2038 (D) | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;144803 |
| Suncor Energy, Inc.<br> 5.950%, 05/15/2035 | &nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;169442 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;477097 |
| The Williams Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 11/15/2030 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;407697 |
| &nbsp;&nbsp;&nbsp;5.100%, 09/15/2045 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;385458 |
| &nbsp;&nbsp;&nbsp;5.300%, 09/30/2035 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;152578 |
| TransCanada PipeLines, Ltd.<br> 5.850%, 03/15/2036 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;443389 |
| Valero Energy Corp.<br> 7.500%, 04/15/2032 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;309072 |
|  |  | 19483222 |
| **Financials – 7.8%** |  |  |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.548%, (5.548% to 7-31-32, then Overnight SOFR + 1.780%), 07/31/2033 | &nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;297160 |
| &nbsp;&nbsp;&nbsp;6.184%, (6.184% to 7-26-34, then Overnight SOFR + 2.290%), 07/26/2035 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;165824 |
| American Express Company<br> 4.420%, (4.420% to 8-3-32, then Overnight SOFR + 1.760%), 08/03/2033 | 1046000 | &nbsp;&nbsp;&nbsp;1038209 |
| American International Group, Inc.<br> 5.125%, 03/27/2033 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;452512 |
| Ameriprise Financial, Inc.<br> 5.150%, 05/15/2033 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;545246 |
| Aon Corp.<br> 2.050%, 08/23/2031 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;388655 |
| Aon North America, Inc.<br> 5.450%, 03/01/2034 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;311765 |
| Arch Capital Finance LLC<br> 4.011%, 12/15/2026 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;399949 |
| Ares Capital Corp.<br> 5.875%, 03/01/2029 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;538561 |
| Arthur J. Gallagher & Company |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, 07/15/2034 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;414628 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/15/2055 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;287924 |
| Athene Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 01/12/2028 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;224777 |
| &nbsp;&nbsp;&nbsp;6.250%, 04/01/2054 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;243118 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Banco Santander SA<br> 1.722%, (1.722% to 9-14-26, then 1 Year CMT + 0.900%), 09/14/2027 | $&nbsp;&nbsp;700000 | $&nbsp;&nbsp;&nbsp;&nbsp;688124 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.419%, (3.419% to 12-20-27, then 3 month CME Term SOFR + 1.302%), 12/20/2028 | 1437000 | 1418925 |
| &nbsp;&nbsp;&nbsp;3.970%, (3.970% to 3-5-28, then 3 month CME Term SOFR + 1.332%), 03/05/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;499187 |
| &nbsp;&nbsp;&nbsp;3.974%, (3.974% to 2-7-29, then 3 month CME Term SOFR + 1.472%), 02/07/2030 | 2105000 | 2093148 |
| &nbsp;&nbsp;&nbsp;4.443%, (4.443% to 1-20-47, then 3 month CME Term SOFR + 2.252%), 01/20/2048 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;451640 |
| &nbsp;&nbsp;&nbsp;5.468%, (5.468% to 1-23-34, then Overnight SOFR + 1.650%), 01/23/2035 | &nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;640657 |
| &nbsp;&nbsp;&nbsp;5.511%, (5.511% to 1-24-35, then Overnight SOFR + 1.310%), 01/24/2036 | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;708967 |
| &nbsp;&nbsp;&nbsp;7.750%, 05/14/2038 | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;582740 |
| Bank of Montreal<br> 5.511%, 06/04/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;526078 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 01/10/2047 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;294515 |
| &nbsp;&nbsp;&nbsp;5.367%, (5.367% to 2-25-30, then Overnight SOFR + 1.230%), 02/25/2031 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;258392 |
| &nbsp;&nbsp;&nbsp;5.674%, (5.674% to 3-12-27, then Overnight SOFR + 1.490%), 03/12/2028 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;508904 |
| &nbsp;&nbsp;&nbsp;7.437%, (7.437% to 11-2-32, then 1 Year CMT + 3.500%), 11/02/2033 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;857591 |
| Berkshire Hathaway Finance Corp.<br> 4.400%, 05/15/2042 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;578548 |
| Blackstone Private Credit Fund<br> 5.950%, 07/16/2029 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;321388 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.197%, (5.197% to 9-11-35, then Overnight SOFR + 1.630%), 09/11/2036 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;298487 |
| &nbsp;&nbsp;&nbsp;5.268%, (5.268% to 5-10-32, then Overnight SOFR + 2.370%), 05/10/2033 | &nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;517949 |
| &nbsp;&nbsp;&nbsp;5.700%, (5.700% to 2-1-29, then Overnight SOFR + 1.905%), 02/01/2030 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;675806 |
| Capital One NA<br> 4.650%, 09/13/2028 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;253688 |
| Chubb INA Holdings LLC<br> 4.900%, 08/15/2035 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;301272 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.561%, (2.561% to 5-1-31, then Overnight SOFR + 1.167%), 05/01/2032 | &nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp;676107 |
| &nbsp;&nbsp;&nbsp;2.666%, (2.666% to 1-29-30, then Overnight SOFR + 1.146%), 01/29/2031 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;655229 |
| &nbsp;&nbsp;&nbsp;4.281%, (4.281% to 4-24-47, then 3 month CME Term SOFR + 2.101%), 04/24/2048 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;353704 |
| &nbsp;&nbsp;&nbsp;4.450%, 09/29/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;503216 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 108 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Citigroup, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.658%, (4.658% to 5-24-27, then Overnight SOFR + 1.887%), 05/24/2028 | $&nbsp;&nbsp;700000 | $&nbsp;&nbsp;&nbsp;&nbsp;705885 |
| &nbsp;&nbsp;&nbsp;5.449%, (5.449% to 6-11-34, then Overnight SOFR + 1.447%), 06/11/2035 | &nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;895785 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.253%, (5.253% to 3-5-30, then Overnight SOFR + 1.259%), 03/05/2031 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;205509 |
| &nbsp;&nbsp;&nbsp;5.718%, (5.718% to 7-23-31, then Overnight SOFR + 1.910%), 07/23/2032 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;225408 |
| CNA Financial Corp.<br> 3.900%, 05/01/2029 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;316823 |
| CNO Financial Group, Inc.<br> 5.250%, 05/30/2029 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;213040 |
| Corebridge Financial, Inc.<br> 3.900%, 04/05/2032 | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;251524 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;3.742%, (3.742% to 1-7-32, then Overnight SOFR + 2.257%), 01/07/2033 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;278656 |
| &nbsp;&nbsp;&nbsp;5.297%, (5.297% to 5-9-30, then Overnight SOFR + 1.720%), 05/09/2031 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;153685 |
| &nbsp;&nbsp;&nbsp;5.403%, (5.403% to 9-11-34, then Overnight SOFR + 2.050%), 09/11/2035 (C) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;357008 |
| &nbsp;&nbsp;&nbsp;5.706%, (5.706% to 2-8-27, then Overnight SOFR + 1.594%), 02/08/2028 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;253924 |
| European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 03/19/2027 | 1500000 | 1513572 |
| &nbsp;&nbsp;&nbsp;4.875%, 02/15/2036 | 1000000 | 1049691 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;5.631%, (5.631% to 1-29-31, then Overnight SOFR + 1.840%), 01/29/2032 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;314876 |
| &nbsp;&nbsp;&nbsp;6.339%, (6.339% to 7-27-28, then Overnight SOFR + 2.340%), 07/27/2029 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;331733 |
| Fiserv, Inc.<br> 2.250%, 06/01/2027 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;613142 |
| Five Corners Funding Trust II<br> 2.850%, 05/15/2030 (D) | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;593096 |
| GE Capital International Funding Company<br> 4.418%, 11/15/2035 | &nbsp;&nbsp;647000 | &nbsp;&nbsp;&nbsp;&nbsp;631368 |
| Global Payments, Inc.<br> 4.450%, 06/01/2028 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;425375 |
| Hartford Insurance Group, Inc.<br> 5.950%, 10/15/2036 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;183190 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;2.848%, (2.848% to 6-4-30, then Overnight SOFR + 2.387%), 06/04/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;934730 |
| &nbsp;&nbsp;&nbsp;4.583%, (4.583% to 6-19-28, then 3 month CME Term SOFR + 1.796%), 06/19/2029 | 1050000 | 1059699 |
| &nbsp;&nbsp;&nbsp;5.240%, (5.240% to 5-13-30, then Overnight SOFR + 1.570%), 05/13/2031 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;257569 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/15/2037 | &nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;762397 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.272%, (5.272% to 1-15-30, then Overnight SOFR + 1.276%), 01/15/2031 | $&nbsp;&nbsp;200000 | $&nbsp;&nbsp;&nbsp;&nbsp;205790 |
| &nbsp;&nbsp;&nbsp;6.141%, (6.141% to 11-18-34, then 5 Year CMT + 1.700%), 11/18/2039 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;234464 |
| ING Groep NV<br> 4.252%, (4.252% to 3-28-32, then Overnight SOFR + 2.070%), 03/28/2033 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;294653 |
| Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 07/20/2028 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;470208 |
| &nbsp;&nbsp;&nbsp;1.125%, 01/13/2031 | 2000000 | 1755343 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/12/2028 (C) | 1000000 | 1008160 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;514537 |
| Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 09/15/2027 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;434471 |
| &nbsp;&nbsp;&nbsp;4.600%, 03/15/2033 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;504560 |
| International Bank for Reconstruction &<br> Development |  |  |
| &nbsp;&nbsp;&nbsp;0.750%, 11/24/2027 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;949176 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/10/2031 | 1000000 | 1008399 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then Overnight SOFR + 2.040%), 04/22/2031 | &nbsp;&nbsp;391000 | &nbsp;&nbsp;&nbsp;&nbsp;364227 |
| &nbsp;&nbsp;&nbsp;3.109%, (3.109% to 4-22-50, then Overnight SOFR + 2.440%), 04/22/2051 | 1940000 | 1317426 |
| &nbsp;&nbsp;&nbsp;3.509%, (3.509% to 1-23-28, then 3 month CME Term SOFR + 1.207%), 01/23/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;495255 |
| &nbsp;&nbsp;&nbsp;3.540%, (3.540% to 5-1-27, then 3 month CME Term SOFR + 1.642%), 05/01/2028 | &nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;805433 |
| &nbsp;&nbsp;&nbsp;4.452%, (4.452% to 12-5-28, then 3 month CME Term SOFR + 1.592%), 12/05/2029 | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;909273 |
| &nbsp;&nbsp;&nbsp;4.603%, (4.603% to 10-22-29, then Overnight SOFR + 1.040%), 10/22/2030 | &nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;816303 |
| &nbsp;&nbsp;&nbsp;4.851%, (4.851% to 7-25-27, then Overnight SOFR + 1.990%), 07/25/2028 | 1000000 | 1012856 |
| &nbsp;&nbsp;&nbsp;5.294%, (5.294% to 7-22-34, then Overnight SOFR + 1.460%), 07/22/2035 | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;758286 |
| &nbsp;&nbsp;&nbsp;6.400%, 05/15/2038 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;282407 |
| KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 01/26/2033 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;328255 |
| &nbsp;&nbsp;&nbsp;5.850%, 11/15/2027 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;257545 |
| Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 12/12/2026 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;523120 |
| &nbsp;&nbsp;&nbsp;7.000%, 06/15/2040 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;179805 |
| Lloyds Banking Group PLC<br> 4.943%, (4.943% to 11-4-35, then 1 Year CMT + 0.970%), 11/04/2036 | &nbsp;&nbsp;994000 | &nbsp;&nbsp;&nbsp;&nbsp;983434 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.553%, (4.553% to 8-16-27, then SOFR Compounded Index + 1.780%), 08/16/2028 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;100531 |
| &nbsp;&nbsp;&nbsp;5.053%, (5.053% to 1-27-33, then Overnight SOFR + 1.850%), 01/27/2034 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;125796 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 109 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| M&T Bank Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.179%, (5.179% to 7-8-30, then Overnight SOFR + 1.400%), 07/08/2031 | $&nbsp;&nbsp;124000 | $&nbsp;&nbsp;&nbsp;&nbsp;127301 |
| Marsh & McLennan Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 12/15/2031 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;224211 |
| &nbsp;&nbsp;&nbsp;4.900%, 03/15/2049 | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;239676 |
| Mastercard, Inc.<br> 2.000%, 11/18/2031 | &nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;343043 |
| MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 05/13/2046 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;465090 |
| &nbsp;&nbsp;&nbsp;5.300%, 12/15/2034 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;311985 |
| Mitsubishi UFJ Financial Group, Inc.<br> 5.441%, (5.441% to 2-22-33, then 1 Year CMT + 1.630%), 02/22/2034 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;224984 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;1.512%, (1.512% to 7-20-26, then Overnight SOFR + 0.858%), 07/20/2027 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;517532 |
| &nbsp;&nbsp;&nbsp;3.622%, (3.622% to 4-1-30, then Overnight SOFR + 3.120%), 04/01/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;971624 |
| &nbsp;&nbsp;&nbsp;3.772%, (3.772% to 1-24-28, then 3 month CME Term SOFR + 1.402%), 01/24/2029 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;631413 |
| &nbsp;&nbsp;&nbsp;4.375%, 01/22/2047 | 1095000 | &nbsp;&nbsp;&nbsp;&nbsp;945447 |
| &nbsp;&nbsp;&nbsp;5.164%, (5.164% to 4-20-28, then Overnight SOFR + 1.590%), 04/20/2029 | 1000000 | 1022510 |
| &nbsp;&nbsp;&nbsp;5.320%, (5.320% to 7-19-34, then Overnight SOFR + 1.555%), 07/19/2035 | &nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;499260 |
| &nbsp;&nbsp;&nbsp;6.296%, (6.296% to 10-18-27, then Overnight SOFR + 2.240%), 10/18/2028 | 1050000 | 1090757 |
| Nasdaq, Inc.<br> 1.650%, 01/15/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;443048 |
| National Rural Utilities Cooperative Finance Corp.<br> 4.023%, 11/01/2032 | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;718531 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.964%, (4.964% to 8-15-29, then 1 Year CMT + 1.220%), 08/15/2030 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;321480 |
| &nbsp;&nbsp;&nbsp;5.115%, (5.115% to 5-23-30, then 1 Year CMT + 1.050%), 05/23/2031 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;307951 |
| &nbsp;&nbsp;&nbsp;5.583%, (5.583% to 3-1-27, then 1 Year CMT + 1.100%), 03/01/2028 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;228952 |
| &nbsp;&nbsp;&nbsp;5.778%, (5.778% to 3-1-34, then 1 Year CMT + 1.500%), 03/01/2035 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;222046 |
| Nomura Holdings, Inc.<br> 3.103%, 01/16/2030 | 1050000 | &nbsp;&nbsp;&nbsp;&nbsp;997252 |
| PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 06/01/2030 | &nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;421314 |
| &nbsp;&nbsp;&nbsp;2.850%, 10/01/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;478938 |
| Prudential Financial, Inc.<br> 4.350%, 02/25/2050 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;248790 |
| Raymond James Financial, Inc.<br> 4.950%, 07/15/2046 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;480054 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/03/2031 | &nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;765028 |
| &nbsp;&nbsp;&nbsp;4.900%, 01/12/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;305988 |
| S&P Global, Inc.<br> 2.900%, 03/01/2032 | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;589867 |
| Santander Holdings USA, Inc.<br> 4.400%, 07/13/2027 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;250700 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| State Street Corp.<br> 5.159%, (5.159% to 5-18-33, then Overnight SOFR + 1.890%), 05/18/2034 | $&nbsp;&nbsp;740000 | $&nbsp;&nbsp;&nbsp;&nbsp;765042 |
| Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.364%, 07/12/2027 | &nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;754589 |
| &nbsp;&nbsp;&nbsp;5.558%, 07/09/2034 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;394198 |
| &nbsp;&nbsp;&nbsp;5.710%, 01/13/2030 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;368700 |
| The Allstate Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 12/15/2046 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;246990 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/30/2033 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;260224 |
| The Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 05/16/2027 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;794532 |
| &nbsp;&nbsp;&nbsp;4.596%, (4.596% to 7-26-29, then SOFR + 1.755%), 07/26/2030 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;244363 |
| The Bank of Nova Scotia<br> 4.850%, 02/01/2030 | &nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;731727 |
| The Charles Schwab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 01/25/2028 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;325477 |
| &nbsp;&nbsp;&nbsp;5.853%, (5.853% to 5-19-33, then Overnight SOFR + 2.500%), 05/19/2034 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;342782 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 02/07/2030 | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;676563 |
| &nbsp;&nbsp;&nbsp;2.650%, (2.650% to 10-21-31, then Overnight SOFR + 1.264%), 10/21/2032 | &nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;365563 |
| &nbsp;&nbsp;&nbsp;3.102%, (3.102% to 2-24-32, then Overnight SOFR + 1.410%), 02/24/2033 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;921226 |
| &nbsp;&nbsp;&nbsp;3.210%, (3.210% to 4-22-41, then Overnight SOFR + 1.513%), 04/22/2042 | 1035000 | &nbsp;&nbsp;&nbsp;&nbsp;799731 |
| &nbsp;&nbsp;&nbsp;4.482%, (4.482% to 8-23-27, then Overnight SOFR + 1.725%), 08/23/2028 | 1000000 | 1007016 |
| &nbsp;&nbsp;&nbsp;5.727%, (5.727% to 4-25-29, then Overnight SOFR + 1.265%), 04/25/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;626833 |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, 04/23/2029 | 1060000 | 1042552 |
| &nbsp;&nbsp;&nbsp;4.899%, (4.899% to 5-13-30, then Overnight SOFR + 1.333%), 05/13/2031 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;327493 |
| The Toronto-Dominion Bank<br> 2.000%, 09/10/2031 | &nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;741797 |
| The Travelers Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.050%, 03/07/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;243606 |
| &nbsp;&nbsp;&nbsp;5.050%, 07/24/2035 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;304689 |
| Travelers Property Casualty Corp.<br> 7.750%, 04/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;50498 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 08/03/2027 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;502845 |
| &nbsp;&nbsp;&nbsp;5.435%, (5.435% to 1-24-29, then Overnight SOFR + 1.620%), 01/24/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;543549 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;5.384%, (5.384% to 1-23-29, then Overnight SOFR + 1.560%), 01/23/2030 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;652482 |
| &nbsp;&nbsp;&nbsp;5.836%, (5.836% to 6-10-33, then Overnight SOFR + 2.260%), 06/12/2034 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;672141 |
| Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.050%, 04/15/2030 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;588445 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 110 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Visa, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 12/14/2045 | $&nbsp;&nbsp;488000 | $&nbsp;&nbsp;&nbsp;&nbsp;425989 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.572%, (2.572% to 2-11-30, then 3 month CME Term SOFR + 1.262%), 02/11/2031 | 2035000 | &nbsp;&nbsp;&nbsp;1900659 |
| &nbsp;&nbsp;&nbsp;3.068%, (3.068% to 4-30-40, then Overnight SOFR + 2.530%), 04/30/2041 | 1600000 | &nbsp;&nbsp;&nbsp;1240945 |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then Overnight SOFR + 1.500%), 03/02/2033 | 1035000 | &nbsp;&nbsp;&nbsp;&nbsp;966004 |
| &nbsp;&nbsp;&nbsp;3.526%, (3.526% to 3-24-27, then SOFR + 1.510%), 03/24/2028 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;397400 |
| Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.354%, 07/01/2030 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;303268 |
| &nbsp;&nbsp;&nbsp;5.618%, (5.618% to 11-20-34, then 1 Year CMT + 1.200%), 11/20/2035 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;516451 |
|  |  | 84581129 |
| **Health care – 2.7%** |  |  |
| Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 11/30/2026 | &nbsp;&nbsp;283000 | &nbsp;&nbsp;&nbsp;&nbsp;282991 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/30/2036 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;332027 |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 11/21/2029 | 1030000 | &nbsp;&nbsp;&nbsp;&nbsp;998869 |
| &nbsp;&nbsp;&nbsp;4.400%, 11/06/2042 | &nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;613756 |
| &nbsp;&nbsp;&nbsp;4.950%, 03/15/2031 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;206799 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2034 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;282614 |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, 05/01/2045 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;222376 |
| &nbsp;&nbsp;&nbsp;4.663%, 06/15/2051 | &nbsp;&nbsp;494000 | &nbsp;&nbsp;&nbsp;&nbsp;422662 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2033 | 1210000 | &nbsp;&nbsp;&nbsp;1252545 |
| Astrazeneca Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 03/03/2030 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;258144 |
| &nbsp;&nbsp;&nbsp;5.000%, 02/26/2034 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;258616 |
| Baxter International, Inc.<br> 3.950%, 04/01/2030 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;516175 |
| Becton, Dickinson and Company |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 06/06/2027 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99582 |
| &nbsp;&nbsp;&nbsp;4.685%, 12/15/2044 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;372068 |
| Biogen, Inc.<br> 3.250%, 02/15/2051 | &nbsp;&nbsp;591000 | &nbsp;&nbsp;&nbsp;&nbsp;388884 |
| Boston Scientific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 06/01/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;494007 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50076 |
| Bristol-Myers Squibb Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 08/01/2042 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;418592 |
| &nbsp;&nbsp;&nbsp;4.550%, 02/20/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;259539 |
| &nbsp;&nbsp;&nbsp;5.200%, 02/22/2034 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;436615 |
| Cardinal Health, Inc.<br> 5.125%, 02/15/2029 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;540317 |
| Centene Corp.<br> 4.250%, 12/15/2027 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;531850 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 03/25/2028 | &nbsp;&nbsp;719000 | &nbsp;&nbsp;&nbsp;&nbsp;721381 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/25/2048 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;458406 |
| &nbsp;&nbsp;&nbsp;5.450%, 09/15/2035 | &nbsp;&nbsp;516000 | &nbsp;&nbsp;&nbsp;&nbsp;528183 |
| DH Europe Finance II Sarl<br> 3.250%, 11/15/2039 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;245725 |
| Dignity Health<br> 4.500%, 11/01/2042 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;260156 |
| Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.101%, 03/01/2028 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;370348 |
| &nbsp;&nbsp;&nbsp;4.600%, 09/15/2032 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;249871 |
| &nbsp;&nbsp;&nbsp;4.650%, 08/15/2044 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;132202 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| Elevance Health, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, 10/15/2052 | $&nbsp;&nbsp;353000 | $363883 |
| Eli Lilly & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 05/15/2050 | &nbsp;&nbsp;530000 | 304897 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/12/2030 | &nbsp;&nbsp;275000 | 282777 |
| &nbsp;&nbsp;&nbsp;5.100%, 02/12/2035 | &nbsp;&nbsp;200000 | 206725 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/12/2055 | &nbsp;&nbsp;250000 | 250213 |
| Evernorth Health, Inc.<br> 6.125%, 11/15/2041 | &nbsp;&nbsp;330000 | 328180 |
| GE HealthCare Technologies, Inc.<br> 5.857%, 03/15/2030 | &nbsp;&nbsp;250000 | 264378 |
| Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2045 | &nbsp;&nbsp;250000 | 221060 |
| &nbsp;&nbsp;&nbsp;5.100%, 06/15/2035 | &nbsp;&nbsp;375000 | 384302 |
| GlaxoSmithKline Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 05/15/2028 | &nbsp;&nbsp;225000 | 225177 |
| &nbsp;&nbsp;&nbsp;6.375%, 05/15/2038 | &nbsp;&nbsp;230000 | 257948 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 09/01/2030 | &nbsp;&nbsp;275000 | 264456 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2027 | &nbsp;&nbsp;225000 | 225490 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/15/2047 | &nbsp;&nbsp;420000 | 396903 |
| &nbsp;&nbsp;&nbsp;5.600%, 04/01/2034 | &nbsp;&nbsp;530000 | 552747 |
| Humana, Inc.<br> 3.950%, 03/15/2027 | &nbsp;&nbsp;370000 | 368927 |
| Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 09/01/2040 | &nbsp;&nbsp;500000 | 352429 |
| &nbsp;&nbsp;&nbsp;5.850%, 07/15/2038 | &nbsp;&nbsp;315000 | 347117 |
| Laboratory Corp. of America Holdings<br> 2.950%, 12/01/2029 | &nbsp;&nbsp;530000 | 504623 |
| McKesson Corp.<br> 4.950%, 05/30/2032 | &nbsp;&nbsp;220000 | 226105 |
| Medtronic, Inc.<br> 4.375%, 03/15/2035 | &nbsp;&nbsp;530000 | 519811 |
| Merck & Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.150%, 12/10/2031 | &nbsp;&nbsp;350000 | 311599 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/17/2053 | &nbsp;&nbsp;250000 | 229613 |
| Merck Sharp & Dohme Corp.<br> 6.400%, 03/01/2028 | &nbsp;&nbsp;540000 | 568585 |
| Pfizer Investment Enterprises Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.650%, 05/19/2030 | &nbsp;&nbsp;400000 | 407900 |
| &nbsp;&nbsp;&nbsp;4.750%, 05/19/2033 | &nbsp;&nbsp;350000 | 353711 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/19/2053 | 1000000 | 946876 |
| Pfizer, Inc.<br> 4.400%, 05/15/2044 | &nbsp;&nbsp;304000 | 270712 |
| Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 06/30/2029 | &nbsp;&nbsp;320000 | 320969 |
| &nbsp;&nbsp;&nbsp;4.700%, 03/30/2045 | &nbsp;&nbsp;320000 | 287121 |
| Regeneron Pharmaceuticals, Inc.<br> 2.800%, 09/15/2050 | 1050000 | 640368 |
| Royalty Pharma PLC<br> 5.200%, 09/25/2035 | &nbsp;&nbsp;200000 | 201011 |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, 03/13/2031 | &nbsp;&nbsp;300000 | 312936 |
| &nbsp;&nbsp;&nbsp;5.600%, 03/23/2034 | &nbsp;&nbsp;100000 | 104049 |
| Stryker Corp.<br> 4.625%, 03/15/2046 | &nbsp;&nbsp;370000 | 330376 |
| Takeda Pharmaceutical Company, Ltd.<br> 5.300%, 07/05/2034 | &nbsp;&nbsp;525000 | 541620 |
| Takeda US Financing, Inc.<br> 5.900%, 07/07/2055 | &nbsp;&nbsp;300000 | 303432 |
| The Cigna Group<br> 4.375%, 10/15/2028 | &nbsp;&nbsp;530000 | 534818 |
| Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 10/15/2031 | &nbsp;&nbsp;400000 | 356986 |
| &nbsp;&nbsp;&nbsp;5.404%, 08/10/2043 | &nbsp;&nbsp;225000 | 226325 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 111 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 05/15/2031 | $&nbsp;&nbsp;530000 | $&nbsp;&nbsp;&nbsp;&nbsp;477960 |
| &nbsp;&nbsp;&nbsp;2.900%, 05/15/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;255403 |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52752 |
| &nbsp;&nbsp;&nbsp;4.450%, 12/15/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;252119 |
| &nbsp;&nbsp;&nbsp;5.350%, 02/15/2033 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;729299 |
| &nbsp;&nbsp;&nbsp;5.800%, 03/15/2036 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;373400 |
| &nbsp;&nbsp;&nbsp;5.950%, 06/15/2055 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;256698 |
| Zimmer Biomet Holdings, Inc.<br> 5.050%, 02/19/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;412553 |
| Zoetis, Inc.<br> 2.000%, 05/15/2030 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;301908 |
|  |  | 29414623 |
| **Industrials – 2.1%** |  |  |
| 3M Company<br> 5.150%, 03/15/2035 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;531491 |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 01/30/2032 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;507826 |
| &nbsp;&nbsp;&nbsp;3.850%, 10/29/2041 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;204296 |
| &nbsp;&nbsp;&nbsp;4.625%, 09/10/2029 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;252488 |
| &nbsp;&nbsp;&nbsp;5.750%, 06/06/2028 | 1000000 | &nbsp;&nbsp;&nbsp;1035376 |
| Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 12/01/2030 | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;597706 |
| &nbsp;&nbsp;&nbsp;3.625%, 12/01/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;395394 |
| American Airlines 2016-2 Class AA Pass Through Trust<br> 3.200%, 06/15/2028 | &nbsp;&nbsp;192885 | &nbsp;&nbsp;&nbsp;&nbsp;188584 |
| Automatic Data Processing, Inc.<br> 4.450%, 09/09/2034 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;543354 |
| Burlington Northern Santa Fe LLC<br> 4.400%, 03/15/2042 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;330337 |
| Canadian Pacific Railway Company<br> 2.875%, 11/15/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;477703 |
| Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.493%, 02/15/2027 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;211504 |
| &nbsp;&nbsp;&nbsp;3.577%, 04/05/2050 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;125153 |
| Caterpillar, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 04/09/2030 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;529742 |
| &nbsp;&nbsp;&nbsp;3.250%, 04/09/2050 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;302955 |
| CNH Industrial Capital LLC<br> 4.550%, 04/10/2028 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;528590 |
| CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 04/15/2050 | 1035000 | &nbsp;&nbsp;&nbsp;&nbsp;786835 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/15/2029 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;433491 |
| Deere & Company<br> 3.100%, 04/15/2030 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;520247 |
| Eaton Capital ULC<br> 4.450%, 05/09/2030 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;343561 |
| Equifax, Inc.<br> 3.100%, 05/15/2030 | &nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;809249 |
| General Dynamics Corp.<br> 3.625%, 04/01/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;515271 |
| General Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 03/11/2044 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;179931 |
| &nbsp;&nbsp;&nbsp;6.750%, 03/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74760 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/10/2039 | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;233100 |
| Honeywell International, Inc.<br> 1.950%, 06/01/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;478820 |
| Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 08/14/2028 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;206737 |
| &nbsp;&nbsp;&nbsp;5.700%, 08/14/2033 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;233089 |
| John Deere Capital Corp.<br> 4.500%, 01/08/2027 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;302271 |
| Johnson Controls, Inc.<br> 5.700%, 03/01/2041 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;146567 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| L3Harris Technologies, Inc.<br> 2.900%, 12/15/2029 | $300000 | $&nbsp;&nbsp;&nbsp;&nbsp;284973 |
| Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 03/01/2045 | 425000 | &nbsp;&nbsp;&nbsp;&nbsp;340836 |
| &nbsp;&nbsp;&nbsp;5.250%, 01/15/2033 | 505000 | &nbsp;&nbsp;&nbsp;&nbsp;530785 |
| Norfolk Southern Corp.<br> 4.837%, 10/01/2041 | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;245082 |
| Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/15/2028 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;123396 |
| &nbsp;&nbsp;&nbsp;4.400%, 05/01/2030 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;201690 |
| Regal Rexnord Corp.<br> 6.050%, 04/15/2028 | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;320684 |
| Republic Services, Inc.<br> 2.375%, 03/15/2033 | 415000 | &nbsp;&nbsp;&nbsp;&nbsp;362366 |
| RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/16/2048 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;457345 |
| &nbsp;&nbsp;&nbsp;6.000%, 03/15/2031 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;538576 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/15/2038 | 225000 | &nbsp;&nbsp;&nbsp;&nbsp;246085 |
| Southwest Airlines Company<br> 5.125%, 06/15/2027 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;526549 |
| Stanley Black & Decker, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 11/15/2050 | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;195866 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/15/2028 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100081 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 02/01/2030 | 440000 | &nbsp;&nbsp;&nbsp;&nbsp;416865 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/01/2050 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;290903 |
| &nbsp;&nbsp;&nbsp;5.040%, 05/01/2027 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;202047 |
| &nbsp;&nbsp;&nbsp;5.805%, 05/01/2050 | 645000 | &nbsp;&nbsp;&nbsp;&nbsp;634418 |
| &nbsp;&nbsp;&nbsp;8.750%, 09/15/2031 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;107327 |
| TR Finance LLC<br> 4.500%, 05/23/2043 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;206333 |
| Trane Technologies Holdco, Inc.<br> 4.300%, 02/21/2048 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;502048 |
| Uber Technologies, Inc.<br> 4.300%, 01/15/2030 | 535000 | &nbsp;&nbsp;&nbsp;&nbsp;538341 |
| Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.799%, 10/01/2051 | 343000 | &nbsp;&nbsp;&nbsp;&nbsp;258657 |
| &nbsp;&nbsp;&nbsp;3.799%, 04/06/2071 | 800000 | &nbsp;&nbsp;&nbsp;&nbsp;548415 |
| &nbsp;&nbsp;&nbsp;4.500%, 01/20/2033 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;535099 |
| United Airlines 2016-2 Class AA Pass Through Trust<br> 2.875%, 10/07/2028 | 180664 | &nbsp;&nbsp;&nbsp;&nbsp;174167 |
| United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, 03/15/2029 | 435000 | &nbsp;&nbsp;&nbsp;&nbsp;428462 |
| &nbsp;&nbsp;&nbsp;5.950%, 05/14/2055 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;206444 |
| Verisk Analytics, Inc.<br> 4.125%, 03/15/2029 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;598812 |
| Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 11/15/2050 | 320000 | &nbsp;&nbsp;&nbsp;&nbsp;190997 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/03/2031 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;207023 |
| &nbsp;&nbsp;&nbsp;4.950%, 03/15/2035 | 275000 | &nbsp;&nbsp;&nbsp;&nbsp;279299 |
|  |  | 22826399 |
| **Information technology – 1.7%** |  |  |
| Amphenol Corp.<br> 4.625%, 02/15/2036 | 547000 | &nbsp;&nbsp;&nbsp;&nbsp;535906 |
| Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 10/01/2031 | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;195424 |
| &nbsp;&nbsp;&nbsp;5.300%, 04/01/2054 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;192346 |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.650%, 05/11/2030 | 975000 | &nbsp;&nbsp;&nbsp;&nbsp;886559 |
| &nbsp;&nbsp;&nbsp;4.000%, 05/10/2028 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;251900 |
| &nbsp;&nbsp;&nbsp;4.100%, 08/08/2062 | 735000 | &nbsp;&nbsp;&nbsp;&nbsp;577759 |
| &nbsp;&nbsp;&nbsp;4.650%, 02/23/2046 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;298379 |
| &nbsp;&nbsp;&nbsp;4.850%, 05/10/2053 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;283600 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 112 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Applied Materials, Inc.<br> 5.100%, 10/01/2035 (C) | $&nbsp;&nbsp;495000 | $&nbsp;&nbsp;&nbsp;&nbsp;510213 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 02/15/2033 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;704493 |
| &nbsp;&nbsp;&nbsp;3.137%, 11/15/2035 (D) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;516712 |
| &nbsp;&nbsp;&nbsp;4.300%, 11/15/2032 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;690493 |
| &nbsp;&nbsp;&nbsp;4.800%, 10/15/2034 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;400769 |
| CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 03/01/2030 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;203668 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/22/2034 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;101891 |
| Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 02/24/2032 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;258012 |
| &nbsp;&nbsp;&nbsp;5.900%, 02/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86004 |
| Corning, Inc.<br> 4.750%, 03/15/2042 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;183646 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 04/01/2028 | &nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;248490 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/15/2034 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;616155 |
| Eaton Corp.<br> 3.103%, 09/15/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;494655 |
| Hewlett Packard Enterprise Company<br> 6.200%, 10/15/2035 (C) | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;459274 |
| HP, Inc.<br> 6.000%, 09/15/2041 (C) | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;529831 |
| IBM Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 06/20/2042 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;175944 |
| &nbsp;&nbsp;&nbsp;5.600%, 11/30/2039 | &nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21696 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 08/12/2031 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;477941 |
| &nbsp;&nbsp;&nbsp;5.200%, 02/10/2033 (C) | 1030000 | &nbsp;&nbsp;&nbsp;1049450 |
| Micron Technology, Inc.<br> 5.800%, 01/15/2035 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;421534 |
| Microsoft Corp.<br> 2.525%, 06/01/2050 | 1538000 | &nbsp;&nbsp;&nbsp;&nbsp;939025 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 05/23/2029 | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;177101 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/15/2034 | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;180712 |
| NVIDIA Corp.<br> 2.000%, 06/15/2031 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;382542 |
| NXP BV<br> 3.400%, 05/01/2030 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;501473 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 03/25/2031 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;390887 |
| &nbsp;&nbsp;&nbsp;3.250%, 11/15/2027 | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;596744 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2047 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;274677 |
| &nbsp;&nbsp;&nbsp;4.125%, 05/15/2045 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;392145 |
| &nbsp;&nbsp;&nbsp;4.200%, 09/27/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;294017 |
| &nbsp;&nbsp;&nbsp;4.700%, 09/27/2034 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;185457 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;261412 |
| &nbsp;&nbsp;&nbsp;5.950%, 09/26/2055 | &nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;481106 |
| Qualcomm, Inc.<br> 1.650%, 05/20/2032 | &nbsp;&nbsp;626000 | &nbsp;&nbsp;&nbsp;&nbsp;534264 |
| Roper Technologies, Inc.<br> 4.200%, 09/15/2028 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;501397 |
| Salesforce, Inc.<br> 2.700%, 07/15/2041 | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;322788 |
| Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 03/15/2039 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;209707 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/23/2030 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;203185 |
| VMware LLC<br> 1.800%, 08/15/2028 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;411349 |
|  |  | 18612732 |
| **Materials – 0.6%** |  |  |
| Air Products and Chemicals, Inc.<br> 1.850%, 05/15/2027 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;516712 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Materials (continued)** |  |  |
| Avery Dennison Corp.<br> 2.650%, 04/30/2030 | $400000 | $&nbsp;&nbsp;&nbsp;&nbsp;373218 |
| Eastman Chemical Company<br> 4.650%, 10/15/2044 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;440943 |
| Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 08/01/2028 | 225000 | &nbsp;&nbsp;&nbsp;&nbsp;225069 |
| &nbsp;&nbsp;&nbsp;5.400%, 11/14/2034 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;206209 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/15/2043 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;314613 |
| International Paper Company<br> 5.000%, 09/15/2035 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;520880 |
| Kinross Gold Corp.<br> 6.875%, 09/01/2041 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;217458 |
| LYB International Finance II BV<br> 3.500%, 03/02/2027 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;397908 |
| Martin Marietta Materials, Inc.<br> 2.400%, 07/15/2031 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;270685 |
| Newmont Corp.<br> 5.350%, 03/15/2034 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;261314 |
| Nucor Corp.<br> 2.700%, 06/01/2030 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;282492 |
| Rio Tinto Alcan, Inc.<br> 6.125%, 12/15/2033 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;125825 |
| Rio Tinto Finance USA PLC<br> 4.750%, 03/22/2042 | 285000 | &nbsp;&nbsp;&nbsp;&nbsp;265533 |
| Rio Tinto Finance USA, Ltd.<br> 5.200%, 11/02/2040 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;249322 |
| The Dow Chemical Company |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 11/15/2042 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;332473 |
| &nbsp;&nbsp;&nbsp;9.400%, 05/15/2039 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;167123 |
| The Sherwin-Williams Company<br> 3.450%, 06/01/2027 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;322519 |
| Vulcan Materials Company<br> 3.500%, 06/01/2030 | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;319667 |
| WRKCo, Inc.<br> 4.900%, 03/15/2029 | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;269837 |
|  |  | 6079800 |
| **Real estate – 0.9%** |  |  |
| Alexandria Real Estate Equities, Inc.<br> 1.875%, 02/01/2033 | 415000 | &nbsp;&nbsp;&nbsp;&nbsp;339858 |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/15/2032 | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;330585 |
| &nbsp;&nbsp;&nbsp;4.950%, 06/15/2030 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;193802 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 08/15/2029 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;516914 |
| &nbsp;&nbsp;&nbsp;4.050%, 03/15/2032 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;335805 |
| AvalonBay Communities, Inc.<br> 2.050%, 01/15/2032 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;368257 |
| Boston Properties LP<br> 2.550%, 04/01/2032 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;453633 |
| Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 05/15/2029 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;497967 |
| &nbsp;&nbsp;&nbsp;5.200%, 04/01/2032 | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;296991 |
| Crown Castle, Inc.<br> 2.500%, 07/15/2031 | 645000 | &nbsp;&nbsp;&nbsp;&nbsp;576603 |
| Digital Realty Trust LP<br> 4.450%, 07/15/2028 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;211291 |
| Equinix, Inc.<br> 2.150%, 07/15/2030 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;362790 |
| Essex Portfolio LP<br> 3.000%, 01/15/2030 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;204235 |
| Extra Space Storage LP<br> 2.350%, 03/15/2032 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;459563 |
| GLP Capital LP<br> 5.300%, 01/15/2029 | 630000 | &nbsp;&nbsp;&nbsp;&nbsp;640966 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 113 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Healthpeak OP LLC<br> 3.500%, 07/15/2029 | $420000 | $&nbsp;&nbsp;&nbsp;&nbsp;408223 |
| Kimco Realty OP LLC<br> 2.250%, 12/01/2031 | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;235054 |
| Mid-America Apartments LP<br> 3.950%, 03/15/2029 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;417497 |
| Prologis LP |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 01/15/2034 | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;297703 |
| &nbsp;&nbsp;&nbsp;5.250%, 06/15/2053 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;237556 |
| Public Storage Operating Company<br> 4.375%, 07/01/2030 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;252040 |
| Realty Income Corp.<br> 3.250%, 01/15/2031 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;190406 |
| Regency Centers LP<br> 5.000%, 07/15/2032 | 320000 | &nbsp;&nbsp;&nbsp;&nbsp;327630 |
| Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 06/15/2027 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;526116 |
| &nbsp;&nbsp;&nbsp;5.125%, 10/01/2035 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;253751 |
| Ventas Realty LP<br> 2.500%, 09/01/2031 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;179713 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;201384 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/01/2035 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;173602 |
| Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 01/15/2031 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;302294 |
| &nbsp;&nbsp;&nbsp;5.125%, 07/01/2035 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;255146 |
|  |  | 10047375 |
| **Utilities – 2.3%** |  |  |
| AEP Transmission Company LLC<br> 3.750%, 12/01/2047 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;321474 |
| Ameren Corp.<br> 3.500%, 01/15/2031 | 860000 | &nbsp;&nbsp;&nbsp;&nbsp;827051 |
| American Electric Power Company, Inc.<br> 5.625%, 03/01/2033 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;178533 |
| American Water Capital Corp.<br> 4.300%, 09/01/2045 | 365000 | &nbsp;&nbsp;&nbsp;&nbsp;311653 |
| Arizona Public Service Company<br> 3.350%, 05/15/2050 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;356613 |
| Baltimore Gas & Electric Company<br> 4.550%, 06/01/2052 | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;589472 |
| Berkshire Hathaway Energy Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2045 | 680000 | &nbsp;&nbsp;&nbsp;&nbsp;589774 |
| &nbsp;&nbsp;&nbsp;6.125%, 04/01/2036 | 456000 | &nbsp;&nbsp;&nbsp;&nbsp;494530 |
| CenterPoint Energy, Inc.<br> 2.950%, 03/01/2030 | 336000 | &nbsp;&nbsp;&nbsp;&nbsp;318399 |
| Consolidated Edison Company of New<br> York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 04/01/2050 | 730000 | &nbsp;&nbsp;&nbsp;&nbsp;568376 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/15/2034 | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;283281 |
| Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 01/15/2034 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;200526 |
| &nbsp;&nbsp;&nbsp;6.250%, 10/01/2039 | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;173353 |
| Consumers Energy Company<br> 2.650%, 08/15/2052 | 684000 | &nbsp;&nbsp;&nbsp;&nbsp;422788 |
| Dominion Energy South Carolina, Inc.<br> 4.600%, 06/15/2043 | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;354323 |
| Dominion Energy, Inc.<br> 3.375%, 04/01/2030 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;511364 |
| DTE Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 08/15/2047 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;230008 |
| &nbsp;&nbsp;&nbsp;5.200%, 04/01/2033 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;259797 |
| Duke Energy Carolinas LLC<br> 6.000%, 01/15/2038 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;323012 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 06/01/2030 | 725000 | &nbsp;&nbsp;&nbsp;&nbsp;672153 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Duke Energy Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, 12/15/2045 | $500000 | $443303 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/15/2052 | 630000 | 556184 |
| &nbsp;&nbsp;&nbsp;5.750%, 09/15/2033 | 500000 | 529464 |
| Duke Energy Progress NC Storm Funding II LLC<br> 4.890%, 01/01/2046 | 500000 | 493409 |
| Entergy Texas, Inc.<br> 1.750%, 03/15/2031 | 730000 | 643742 |
| Essential Utilities, Inc.<br> 4.276%, 05/01/2049 | 415000 | 335296 |
| Eversource Energy<br> 4.250%, 04/01/2029 | 330000 | 329124 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 06/15/2035 | 225000 | 224188 |
| &nbsp;&nbsp;&nbsp;5.100%, 06/15/2045 | 350000 | 323620 |
| &nbsp;&nbsp;&nbsp;5.125%, 03/15/2031 | 200000 | 206470 |
| FirstEnergy Corp.<br> 2.650%, 03/01/2030 | 375000 | 349643 |
| Florida Power & Light Company<br> 5.650%, 02/01/2037 | 315000 | 336624 |
| Georgia Power Company |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 05/17/2033 | 330000 | 336455 |
| &nbsp;&nbsp;&nbsp;5.950%, 02/01/2039 (C) | 335000 | 355296 |
| Indiana Michigan Power Company |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, 05/15/2028 | 400000 | 399279 |
| &nbsp;&nbsp;&nbsp;6.050%, 03/15/2037 | 207000 | 225469 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 730000 | 671339 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/28/2053 | 725000 | 674946 |
| &nbsp;&nbsp;&nbsp;5.550%, 03/15/2054 | 220000 | 212497 |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 03/30/2048 | 300000 | 233975 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/30/2033 | 950000 | 985166 |
| Oncor Electric Delivery Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.550%, 09/15/2032 | 115000 | 114906 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2038 | 188000 | 224826 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 02/01/2031 | 400000 | 359984 |
| &nbsp;&nbsp;&nbsp;3.750%, 07/01/2028 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;29606 |
| &nbsp;&nbsp;&nbsp;4.550%, 07/01/2030 | 257000 | 255896 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 757000 | 639841 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/15/2034 | 355000 | 368691 |
| PacifiCorp<br> 6.000%, 01/15/2039 | 335000 | 340597 |
| PPL Electric Utilities Corp.<br> 5.000%, 05/15/2033 | 265000 | 271293 |
| Public Service Company of Colorado<br> 3.600%, 09/15/2042 | 520000 | 409418 |
| Public Service Electric & Gas Company<br> 3.100%, 03/15/2032 | 300000 | 277950 |
| San Diego Gas & Electric Company<br> 6.125%, 09/15/2037 (C) | 202000 | 219236 |
| Sempra<br> 3.400%, 02/01/2028 | 200000 | 196953 |
| Southern California Edison Company |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 755000 | 684848 |
| &nbsp;&nbsp;&nbsp;5.350%, 07/15/2035 | 130000 | 130629 |
| Southern California Gas Company<br> 6.350%, 11/15/2052 | 430000 | 464778 |
| The Connecticut Light & Power Company<br> 4.300%, 04/15/2044 | 255000 | 218379 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 04/30/2030 | 310000 | 302643 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 114 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| The Southern Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, 07/01/2046 | &nbsp;&nbsp;420000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354319 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2034 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315831 |
| Virginia Electric & Power Company |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 05/15/2052 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227313 |
| &nbsp;&nbsp;&nbsp;8.875%, 11/15/2038 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253853 |
| Wisconsin Electric Power Company<br> 4.750%, 09/30/2032 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224002 |
| Xcel Energy, Inc.<br> 4.600%, 06/01/2032 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626549 |
|  |  | &nbsp;&nbsp;&nbsp;24364310 |
| TOTAL CORPORATE BONDS (Cost $275,858,628) |  | $267669652 |
| **MUNICIPAL BONDS – 0.3%** |  |  |
| Bay Area Toll Authority (California)<br> 6.907%, 10/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56588 |
| Illinois State Toll Highway Authority<br> 6.184%, 01/01/2034 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159277 |
| Metropolitan Washington Airports Authority<br> 7.462%, 10/01/2046 | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47545 |
| New Jersey Turnpike Authority<br> 7.102%, 01/01/2041 | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105156 |
| New York City Transitional Finance Authority<br> 5.588%, 05/01/2038 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521777 |
| New York State Dormitory Authority<br> 5.628%, 03/15/2039 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349470 |
| New York State Urban Development Corp.<br> 5.770%, 03/15/2039 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242043 |
| Oklahoma Development Finance Authority<br> 4.380%, 11/01/2045 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471626 |
| State of California, GO<br> 7.300%, 10/01/2039 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465509 |
| State of California, GO<br> 7.500%, 04/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93333 |
| State of Illinois, GO<br> 5.100%, 06/01/2033 | &nbsp;&nbsp;100343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102839 |
| State of Illinois, GO<br> 7.350%, 07/01/2035 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217791 |
| State of Texas, GO<br> 5.517%, 04/01/2039 | &nbsp;&nbsp;243700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249739 |
| Texas Transportation Commission State Highway Fund<br> 5.178%, 04/01/2030 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317185 |
| TOTAL MUNICIPAL BONDS (Cost $3,312,771) | TOTAL MUNICIPAL BONDS (Cost $3,312,771) | $&nbsp;&nbsp;&nbsp;&nbsp;3399878 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 1.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 1.4%** |  |
| **Commercial and residential – 1.3%** |  |  |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK6, Class A4,<br> 3.254%, 07/15/2060 | 1804416 | &nbsp;&nbsp;&nbsp;&nbsp;1783663 |
| &nbsp;&nbsp;&nbsp;Series 2022-BNK39, Class A4,<br> 2.928%, 02/15/2055 (E) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1823857 |
| BBCMS Mortgage Trust<br> Series 2024-5C29, Class AS<br> 5.627%, 09/15/2057 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1542077 |
| BMO Mortgage Trust<br> Series 2022-C1, Class A5<br> 3.374%, 02/15/2055 (E) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1857442 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| CD Mortgage Trust<br> Series 2017-CD3, Class A4<br> 3.631%, 02/10/2050 | 1090000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063899 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-GS4, Class A3,<br> 3.178%, 11/10/2049 | 1514326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504783 |
| &nbsp;&nbsp;&nbsp;Series 2017-GS5, Class A3,<br> 3.409%, 03/10/2050 | 2742204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2720224 |
| Morgan Stanley Capital Trust<br> Series 2021-L5, Class A4<br> 2.728%, 05/15/2054 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1819832 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14115777 |
| **U.S. Government Agency – 0.1%** |  |  |
| Federal Home Loan Mortgage Corp.<br> Series K755, Class A2<br> 5.203%, 02/25/2031 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628455 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $15,010,262) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $15,010,262) | $&nbsp;&nbsp;&nbsp;&nbsp;14744232 |
| **ASSET-BACKED SECURITIES – 0.4%** | **ASSET-BACKED SECURITIES – 0.4%** |  |
| Carmax Auto Owner Trust<br> Series 2022-4, Class A4<br> 5.700%, 07/17/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011108 |
| Carvana Auto Receivables Trust<br> Series 2024-P2, Class A4<br> 5.210%, 06/10/2030 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023182 |
| CNH Equipment Trust<br> Series 2023-B, Class A4<br> 5.460%, 03/17/2031 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618839 |
| SMB Private Education Loan Trust<br> Series 2021-E, Class A1A<br> 1.680%, 02/15/2051 (D) | &nbsp;&nbsp;631226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601309 |
| Toyota Auto Receivables Owner Trust<br> Series 2023-B, Class A4<br> 4.660%, 09/15/2028 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260815 |
| TOTAL ASSET-BACKED SECURITIES (Cost $4,539,186) |  | $&nbsp;&nbsp;&nbsp;&nbsp;4515253 |
| **SHORT-TERM INVESTMENTS – 0.9%** | **SHORT-TERM INVESTMENTS – 0.9%** |  |
| **Short-term funds – 0.9%** |  |  |
| John Hancock Collateral Trust, 3.7477% (F)(G) | &nbsp;&nbsp;944936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9453324 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $9,453,504) | TOTAL SHORT-TERM INVESTMENTS (Cost $9,453,504) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9453324 |
| **Total Investments (Total Bond Market Trust)<br> (Cost $1,123,102,878) – 99.9%** | **Total Investments (Total Bond Market Trust)<br> (Cost $1,123,102,878) – 99.9%** | $**1077148393** |
| **Other assets and liabilities, net – 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**1197772** |
| **TOTAL NET ASSETS – 100.0%** |  | $**1078346165** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| GO | General Obligation |
| IBOR | Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | Security purchased or sold on a when-issued or delayed-delivery basis. |
| (C) | All or a portion of this security is on loan as of 12-31-25. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 115 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)
(D) This security is 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.

(E) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The
interest rate shown is the current rate as of period end.

(F) The rate shown is the annualized seven-day yield as of 12-31-25.

(G) Investment is an affiliate of the portfolio, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received
for securities lending. Market value of this investment amounted to $1,630,424.

#### Ultra Short Term Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 0.4%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 0.4%** |  |
| **U.S. Government Agency – 0.4%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.015%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.515%), 12/01/2035 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7748 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7875 |
| &nbsp;&nbsp;&nbsp;6.065%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.565%), 12/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18029 |
| &nbsp;&nbsp;&nbsp;6.072%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.447%), 06/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12240 |
| &nbsp;&nbsp;&nbsp;6.141%, (1 Year CMT + 2.108%), 12/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43960 |
| &nbsp;&nbsp;&nbsp;6.165%, (1 Year CMT + 2.165%), 11/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25634 |
| &nbsp;&nbsp;&nbsp;6.231%, (1 Year CMT + 2.231%), 05/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45958 |
| &nbsp;&nbsp;&nbsp;6.353%, (1 Year CMT + 2.295%), 08/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39313 |
| &nbsp;&nbsp;&nbsp;6.420%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.538%), 02/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22314 |
| &nbsp;&nbsp;&nbsp;6.450%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.583%), 05/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35234 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;5.839%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.295%), 10/01/2038 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11710 |
| &nbsp;&nbsp;&nbsp;6.051%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.432%), 04/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127720 |
| &nbsp;&nbsp;&nbsp;6.051%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.484%), 10/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43495 |
| &nbsp;&nbsp;&nbsp;6.132%, (1 Year CMT + 2.157%), 01/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15120 |
| &nbsp;&nbsp;&nbsp;6.136%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.529%), 02/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25778 |
| &nbsp;&nbsp;&nbsp;6.189%, (1 Year CMT + 2.161%), 01/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51881 |
| &nbsp;&nbsp;&nbsp;6.250%, (1 Year CMT + 2.193%), 02/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63716 |
| &nbsp;&nbsp;&nbsp;6.273%, (1 Year CMT + 2.204%), 05/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89209 |

---

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.358%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.566%), 07/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;68790 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70381 |
| &nbsp;&nbsp;&nbsp;6.382%, (1 Year CMT + 2.277%), 07/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;42930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43853 |
| &nbsp;&nbsp;&nbsp;6.423%, (1 Year CMT + 2.333%), 05/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;33703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34519 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;827939 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $854,019) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $854,019) | $&nbsp;&nbsp;&nbsp;&nbsp;827939 |
| **CORPORATE BONDS – 55.0%** | **CORPORATE BONDS – 55.0%** |  |
| **Communication services – 3.8%** |  |  |
| AT&T, Inc.<br> 1.700%, 03/25/2026 | &nbsp;&nbsp;914000 | &nbsp;&nbsp;&nbsp;&nbsp;909377 |
| Netflix, Inc.<br> 4.375%, 11/15/2026 | &nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;934772 |
| T-Mobile USA, Inc.<br> 2.250%, 02/15/2026 | 2560000 | &nbsp;&nbsp;&nbsp;2554142 |
| TWDC Enterprises 18 Corp.<br> 3.000%, 02/13/2026 | 2000000 | &nbsp;&nbsp;&nbsp;1997527 |
| Verizon Communications, Inc.<br> 4.125%, 03/16/2027 | 1237000 | &nbsp;&nbsp;&nbsp;1239940 |
|  |  | &nbsp;&nbsp;&nbsp;7635758 |
| **Consumer discretionary – 6.0%** |  |  |
| American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 09/09/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;692362 |
| &nbsp;&nbsp;&nbsp;4.950%, 01/09/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;700126 |
| BMW US Capital LLC<br> 2.800%, 04/11/2026 (B) | 3000000 | &nbsp;&nbsp;&nbsp;2989935 |
| Ford Motor Credit Company LLC<br> 4.389%, 01/08/2026 | 1107000 | &nbsp;&nbsp;&nbsp;1107069 |
| General Motors Financial Company, Inc.<br> 5.050%, 04/04/2028 | 2000000 | &nbsp;&nbsp;&nbsp;2036864 |
| Hyundai Capital America<br> 5.250%, 01/08/2027 (B) | 2000000 | &nbsp;&nbsp;&nbsp;2022777 |
| Mercedes-Benz Finance North America LLC<br> 5.200%, 08/03/2026 (B) | 1400000 | &nbsp;&nbsp;&nbsp;1409852 |
| Royal Caribbean Cruises, Ltd.<br> 7.500%, 10/15/2027 | 1000000 | &nbsp;&nbsp;&nbsp;1056258 |
|  |  | 12015243 |
| **Consumer staples – 1.7%** |  |  |
| Kraft Heinz Foods Company<br> 3.875%, 05/15/2027 | 1500000 | &nbsp;&nbsp;&nbsp;1495965 |
| Mars, Inc.<br> 4.600%, 03/01/2028 (B) | 2000000 | &nbsp;&nbsp;&nbsp;2027401 |
|  |  | &nbsp;&nbsp;&nbsp;3523366 |
| **Energy – 2.5%** |  |  |
| Energy Transfer LP<br> 5.500%, 06/01/2027 | 1099000 | &nbsp;&nbsp;&nbsp;1116750 |
| Enterprise Products Operating LLC<br> 5.050%, 01/10/2026 | 1430000 | &nbsp;&nbsp;&nbsp;1430016 |
| MPLX LP<br> 1.750%, 03/01/2026 | &nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;692259 |
| Phillips 66 Company<br> 3.550%, 10/01/2026 | 1131000 | &nbsp;&nbsp;&nbsp;1127907 |
| Spectra Energy Partners LP<br> 3.375%, 10/15/2026 | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;676928 |
|  |  | &nbsp;&nbsp;&nbsp;5043860 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 116 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials – 20.8%** |  |  |
| Ares Capital Corp.<br> 3.875%, 01/15/2026 | $1840000 | $1839859 |
| Athene Global Funding<br> 5.620%, 05/08/2026 (B) | 1800000 | 1808541 |
| Bank of Montreal<br> 4.062%, (4.062% to 9-22-27, then SOFR Compounded Index + 0.750%), 09/22/2028 | 2000000 | 2001339 |
| Blackstone Private Credit Fund<br> 2.625%, 12/15/2026 | 1092000 | 1072788 |
| Blackstone Secured Lending Fund<br> 2.125%, 02/15/2027 | 1108000 | 1077959 |
| BNP Paribas SA<br> 4.400%, 08/14/2028 (B) | 2000000 | 2003913 |
| Capital One NA<br> 4.250%, 03/13/2026 | 2000000 | 2000550 |
| Comerica Bank<br> 7.875%, 09/15/2026 | 1500000 | 1534597 |
| Credit Agricole SA<br> 1.247%, (1.247% to 1-26-26, then Overnight SOFR + 0.892%), 01/26/2027 (B) | 2000000 | 1995803 |
| Fifth Third Bank NA<br> 4.967%, (4.967% to 1-28-27, then Overnight SOFR + 0.810%), 01/28/2028 | 2000000 | 2018824 |
| Goldman Sachs Bank USA<br> 5.283%, (5.283% to 3-18-26, then Overnight SOFR + 0.777%), 03/18/2027 | &nbsp;&nbsp;902000 | &nbsp;&nbsp;&nbsp;&nbsp;904257 |
| ING Groep NV<br> 3.950%, 03/29/2027 | &nbsp;&nbsp;904000 | &nbsp;&nbsp;&nbsp;&nbsp;903500 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;3.960%, (3.960% to 1-29-26, then 3 month CME Term SOFR + 1.507%), 01/29/2027 | &nbsp;&nbsp;908000 | &nbsp;&nbsp;&nbsp;&nbsp;907838 |
| &nbsp;&nbsp;&nbsp;4.851%, (4.851% to 7-25-27, then Overnight SOFR + 1.990%), 07/25/2028 | 2845000 | 2881577 |
| KeyCorp<br> 2.250%, 04/06/2027 | 1500000 | 1466066 |
| Morgan Stanley<br> 3.950%, 04/23/2027 | &nbsp;&nbsp;922000 | &nbsp;&nbsp;&nbsp;&nbsp;921347 |
| PNC Bank NA<br> 3.100%, 10/25/2027 | 2000000 | 1975106 |
| Royal Bank of Canada<br> 4.650%, 01/27/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;700243 |
| Sammons Financial Group Global Funding<br> 5.050%, 01/10/2028 (B) | 1000000 | 1015528 |
| Santander Holdings USA, Inc.<br> 3.244%, 10/05/2026 | 3000000 | 2981391 |
| Sixth Street Specialty Lending, Inc.<br> 2.500%, 08/01/2026 (C) | &nbsp;&nbsp;583000 | &nbsp;&nbsp;&nbsp;&nbsp;575838 |
| Societe Generale SA<br> 5.250%, 02/19/2027 (B) | 1000000 | 1011364 |
| The Goldman Sachs Group, Inc.<br> 1.431%, (1.431% to 3-9-26, then Overnight SOFR + 0.798%), 03/09/2027 | 2000000 | 1989780 |
| The Toronto-Dominion Bank<br> 1.200%, 06/03/2026 | 2000000 | 1977042 |
| Truist Bank<br> 3.300%, 05/15/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;698010 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 04/15/2026 (B) | $&nbsp;&nbsp;700000 | $&nbsp;&nbsp;&nbsp;&nbsp;700298 |
| &nbsp;&nbsp;&nbsp;4.282%, 01/09/2028 (B) | &nbsp;&nbsp;997000 | &nbsp;&nbsp;&nbsp;&nbsp;998415 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 10/23/2026 | &nbsp;&nbsp;931000 | &nbsp;&nbsp;&nbsp;&nbsp;924192 |
| &nbsp;&nbsp;&nbsp;4.100%, 06/03/2026 | &nbsp;&nbsp;903000 | &nbsp;&nbsp;&nbsp;&nbsp;903084 |
|  |  | 41789049 |
| **Health care – 7.0%** |  |  |
| AbbVie, Inc.<br> 3.200%, 05/14/2026 | 3000000 | &nbsp;&nbsp;&nbsp;2993288 |
| Amgen, Inc.<br> 2.600%, 08/19/2026 | 1045000 | &nbsp;&nbsp;&nbsp;1036900 |
| Astrazeneca Finance LLC<br> 1.200%, 05/28/2026 | 2000000 | &nbsp;&nbsp;&nbsp;1979545 |
| CVS Health Corp.<br> 5.000%, 02/20/2026 | 3000000 | &nbsp;&nbsp;&nbsp;3001140 |
| Pfizer Investment Enterprises Pte, Ltd.<br> 4.450%, 05/19/2028 | 2500000 | &nbsp;&nbsp;&nbsp;2533146 |
| Royalty Pharma PLC<br> 1.750%, 09/02/2027 | 1180000 | &nbsp;&nbsp;&nbsp;1136434 |
| Solventum Corp.<br> 5.450%, 02/25/2027 | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;345914 |
| UnitedHealth Group, Inc.<br> 4.400%, 06/15/2028 | 1000000 | &nbsp;&nbsp;&nbsp;1011018 |
|  |  | 14037385 |
| **Industrials – 2.9%** |  |  |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, 01/15/2027 | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;667384 |
| &nbsp;&nbsp;&nbsp;6.450%, 04/15/2027 | 1941000 | &nbsp;&nbsp;&nbsp;1993883 |
| CSX Corp.<br> 2.600%, 11/01/2026 | 2000000 | &nbsp;&nbsp;&nbsp;1978896 |
| The Boeing Company<br> 5.040%, 05/01/2027 | 1152000 | &nbsp;&nbsp;&nbsp;1163793 |
|  |  | &nbsp;&nbsp;&nbsp;5803956 |
| **Information technology – 2.6%** |  |  |
| Apple, Inc.<br> 0.700%, 02/08/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;996837 |
| Broadcom, Inc.<br> 3.459%, 09/15/2026 | &nbsp;&nbsp;896000 | &nbsp;&nbsp;&nbsp;&nbsp;893469 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.020%, 06/15/2026 | &nbsp;&nbsp;286000 | &nbsp;&nbsp;&nbsp;&nbsp;287250 |
| &nbsp;&nbsp;&nbsp;6.100%, 07/15/2027 | &nbsp;&nbsp;772000 | &nbsp;&nbsp;&nbsp;&nbsp;793097 |
| Marvell Technology, Inc.<br> 1.650%, 04/15/2026 (C) | &nbsp;&nbsp;694000 | &nbsp;&nbsp;&nbsp;&nbsp;689300 |
| Oracle Corp.<br> 1.650%, 03/25/2026 | 1540000 | &nbsp;&nbsp;&nbsp;1530290 |
|  |  | &nbsp;&nbsp;&nbsp;5190243 |
| **Materials – 0.7%** |  |  |
| Glencore Funding LLC<br> 4.000%, 03/27/2027 (B) | 1500000 | &nbsp;&nbsp;&nbsp;1498489 |
| **Real estate – 1.9%** |  |  |
| American Tower Corp.<br> 3.375%, 10/15/2026 | &nbsp;&nbsp;901000 | &nbsp;&nbsp;&nbsp;&nbsp;896196 |
| Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 06/01/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;701738 |
| &nbsp;&nbsp;&nbsp;5.050%, 01/13/2026 | 1143000 | &nbsp;&nbsp;&nbsp;1143172 |
| VICI Properties LP<br> 4.500%, 09/01/2026 (B) | 1138000 | &nbsp;&nbsp;&nbsp;1139110 |
|  |  | &nbsp;&nbsp;&nbsp;3880216 |
| **Utilities – 5.1%** |  |  |
| American Electric Power Company, Inc.<br> 5.750%, 11/01/2027 | 2000000 | &nbsp;&nbsp;&nbsp;2061498 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 117 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Duke Energy Corp.<br> 4.850%, 01/05/2027 | &nbsp;&nbsp;895000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903326 |
| Enel Finance International NV<br> 3.625%, 05/25/2027 (B) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993578 |
| NextEra Energy Capital Holdings, Inc.<br> 4.685%, 09/01/2027 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2023766 |
| Pacific Gas & Electric Company<br> 2.100%, 08/01/2027 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969451 |
| Sempra<br> 5.400%, 08/01/2026 | &nbsp;&nbsp;897000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902754 |
| Sierra Pacific Power Company<br> 2.600%, 05/01/2026 | 1719000 | &nbsp;&nbsp;&nbsp;&nbsp;1710689 |
| The Southern Company<br> 3.250%, 07/01/2026 | &nbsp;&nbsp;684000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681637 |
|  |  | &nbsp;&nbsp;&nbsp;10246699 |
| TOTAL CORPORATE BONDS (Cost $110,134,714) |  | $110664264 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.2%** |  |
| **Commercial and residential – 0.1%** |  |  |
| Towd Point Mortgage Trust<br> Series 2016-4, Class M1<br> 3.250%, 07/25/2056 (B)(D) | &nbsp;&nbsp;152390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151460 |
| **U.S. Government Agency – 0.1%** |  |  |
| Federal National Mortgage Association<br> Series 2013-10, Class FT (30 day Average SOFR + 0.464%)<br> 4.339%, 04/25/2042 (A) | &nbsp;&nbsp;304422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301382 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $455,281) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $455,281) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452842 |
| **ASSET-BACKED SECURITIES – 23.0%** | **ASSET-BACKED SECURITIES – 23.0%** |  |
| Ally Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A2<br> 5.681%, 05/17/2032 (B) | &nbsp;&nbsp;915553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931643 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A2<br> 4.970%, 09/15/2032 (B) | &nbsp;&nbsp;145252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146659 |
| Amur Equipment Finance Receivables XIII LLC<br> Series 2024-1A, Class A2<br> 5.380%, 01/21/2031 (B) | &nbsp;&nbsp;700944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708839 |
| ARI Fleet Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A2<br> 5.300%, 11/15/2032 (B) | &nbsp;&nbsp;415449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417963 |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class A2<br> 4.590%, 03/15/2034 (B) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704999 |
| Avis Budget Rental Car Funding<br> AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A<br> 2.020%, 02/20/2027 (B) | &nbsp;&nbsp;333333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332656 |
| &nbsp;&nbsp;&nbsp;Series 2022-3A, Class A<br> 4.620%, 02/20/2027 (B) | &nbsp;&nbsp;283334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283443 |
| BMW Vehicle Lease Trust<br> Series 2025-1, Class A2A<br> 4.430%, 09/27/2027 | &nbsp;&nbsp;623979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625705 |
| BMW Vehicle Owner Trust<br> Series 2023-A, Class A4<br> 5.250%, 11/26/2029 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609033 |
| Capital One Multi-Asset Execution Trust<br> Series 2023-A1, Class A<br> 4.420%, 05/15/2028 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2003833 |
| CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A3<br> 4.750%, 10/15/2027 | &nbsp;&nbsp;269032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269606 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| CarMax Auto Owner Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2, Class A4<br> 5.010%, 11/15/2028 | $1070000 | $1083011 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A3<br> 4.600%, 10/15/2029 | &nbsp;&nbsp;432000 | &nbsp;&nbsp;&nbsp;&nbsp;436556 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A3<br> 4.480%, 03/15/2030 | &nbsp;&nbsp;598000 | &nbsp;&nbsp;&nbsp;&nbsp;604507 |
| Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-P4, Class A4<br> 1.640%, 12/10/2027 | &nbsp;&nbsp;276832 | &nbsp;&nbsp;&nbsp;&nbsp;274696 |
| &nbsp;&nbsp;&nbsp;Series 2022-P3, Class A3<br> 4.610%, 11/10/2027 | &nbsp;&nbsp;164569 | &nbsp;&nbsp;&nbsp;&nbsp;164732 |
| Chase Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-AA, Class A4<br> 3.990%, 03/27/2028 (B) | &nbsp;&nbsp;704115 | &nbsp;&nbsp;&nbsp;&nbsp;703902 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A3<br> 5.130%, 05/25/2029 (B) | &nbsp;&nbsp;114229 | &nbsp;&nbsp;&nbsp;&nbsp;115262 |
| Chesapeake Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A1<br> 5.650%, 05/15/2035 (B) | &nbsp;&nbsp;228604 | &nbsp;&nbsp;&nbsp;&nbsp;229672 |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A1<br> 6.160%, 10/15/2035 (B) | &nbsp;&nbsp;351195 | &nbsp;&nbsp;&nbsp;&nbsp;354906 |
| Citizens Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2, Class A4<br> 5.740%, 10/15/2030 (B) | 1165000 | 1187155 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A3<br> 5.110%, 04/17/2028 (B) | 1334163 | 1341492 |
| CNH Equipment Trust<br> Series 2022-B, Class A3<br> 3.890%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;74621 | &nbsp;&nbsp;&nbsp;&nbsp;74590 |
| DLLAA LLC<br> Series 2023-1A, Class A3<br> 5.640%, 02/22/2028 (B) | &nbsp;&nbsp;555497 | &nbsp;&nbsp;&nbsp;&nbsp;561384 |
| DLLAD LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A3<br> 4.790%, 01/20/2028 (B) | &nbsp;&nbsp;391791 | &nbsp;&nbsp;&nbsp;&nbsp;394053 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A3<br> 5.300%, 07/20/2029 (B) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;816655 |
| DLLST LLC<br> Series 2024-1A, Class A3<br> 5.050%, 08/20/2027 (B) | &nbsp;&nbsp;132659 | &nbsp;&nbsp;&nbsp;&nbsp;133234 |
| Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 3.270%, 01/20/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;76492 | &nbsp;&nbsp;&nbsp;&nbsp;76428 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A3<br> 4.790%, 05/21/2029 (B) | &nbsp;&nbsp;340610 | &nbsp;&nbsp;&nbsp;&nbsp;341629 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A2<br> 4.380%, 07/20/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;32007 | &nbsp;&nbsp;&nbsp;&nbsp;32022 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A3<br> 4.290%, 07/20/2029 (B) | &nbsp;&nbsp;137000 | &nbsp;&nbsp;&nbsp;&nbsp;137208 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A2<br> 5.760%, 10/22/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;24928 | &nbsp;&nbsp;&nbsp;&nbsp;25012 |
| &nbsp;&nbsp;&nbsp;Series 2023-3, Class A2<br> 6.400%, 03/20/2030 (B) | &nbsp;&nbsp;309428 | &nbsp;&nbsp;&nbsp;&nbsp;313234 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A2<br> 5.230%, 03/20/2030 (B) | &nbsp;&nbsp;564917 | &nbsp;&nbsp;&nbsp;&nbsp;569137 |
| &nbsp;&nbsp;&nbsp;Series 2024-2, Class A3<br> 5.610%, 04/20/2028 (B) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;355946 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A2<br> 4.690%, 07/20/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;91375 | &nbsp;&nbsp;&nbsp;&nbsp;91693 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A3<br> 4.560%, 11/20/2028 (B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;606137 |
| FCCU Auto Receivables Trust<br> Series 2025-1A, Class A2<br> 4.870%, 01/16/2029 (B) | &nbsp;&nbsp;191471 | &nbsp;&nbsp;&nbsp;&nbsp;192069 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 118 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Ford Credit Auto Lease Trust<br> Series 2024-B, Class A3<br> 4.990%, 12/15/2027 | $1069000 | $1074946 |
| Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A<br> 3.880%, 11/15/2034 (B) | &nbsp;&nbsp;438000 | &nbsp;&nbsp;&nbsp;&nbsp;438046 |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A4<br> 4.590%, 12/15/2027 | &nbsp;&nbsp;301556 | &nbsp;&nbsp;&nbsp;&nbsp;302088 |
| Ford Credit Floorplan Master<br> Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A2 (30 day Average SOFR + 1.250%)<br> 5.234%, 05/15/2028 (A)(B) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;501699 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A1<br> 5.290%, 04/15/2029 (B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;610613 |
| GM Financial Automobile Leasing Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A2A<br> 4.550%, 07/20/2027 | &nbsp;&nbsp;917423 | &nbsp;&nbsp;&nbsp;&nbsp;920098 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A3<br> 4.580%, 05/22/2028 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;605384 |
| GM Financial Consumer Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A4<br> 1.510%, 04/17/2028 | &nbsp;&nbsp;421167 | &nbsp;&nbsp;&nbsp;&nbsp;419866 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A4<br> 3.250%, 04/17/2028 | &nbsp;&nbsp;672814 | &nbsp;&nbsp;&nbsp;&nbsp;671548 |
| &nbsp;&nbsp;&nbsp;Series 2023-4, Class A4<br> 5.710%, 02/16/2029 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;164028 |
| GMF Floorplan Owner Revolving Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A1<br> 5.340%, 06/15/2028 (B) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;502994 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 5.130%, 03/15/2029 (B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;608980 |
| GreatAmerica Leasing Receivables<br> Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 5.080%, 09/15/2026 (B) | &nbsp;&nbsp;365579 | &nbsp;&nbsp;&nbsp;&nbsp;365972 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A4<br> 5.350%, 07/16/2029 (B) | &nbsp;&nbsp;304000 | &nbsp;&nbsp;&nbsp;&nbsp;306315 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A3<br> 4.980%, 01/18/2028 (B) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;705494 |
| Harley-Davidson Motorcycle Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A4<br> 3.260%, 01/15/2030 | &nbsp;&nbsp;340889 | &nbsp;&nbsp;&nbsp;&nbsp;340297 |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class A4<br> 4.970%, 06/17/2030 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;706054 |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class A3<br> 5.690%, 08/15/2028 | &nbsp;&nbsp;865617 | &nbsp;&nbsp;&nbsp;&nbsp;873225 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A3<br> 4.310%, 07/16/2029 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;140566 |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class A2A<br> 4.710%, 07/17/2028 | &nbsp;&nbsp;572683 | &nbsp;&nbsp;&nbsp;&nbsp;574212 |
| Honda Auto Receivables Owner Trust<br> Series 2025-4, Class A2A<br> 4.040%, 06/15/2028 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;601066 |
| Hyundai Auto Lease Securitization Trust<br> Series 2025-A, Class A3<br> 4.830%, 01/18/2028 (B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;606069 |
| Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-C, Class A3<br> 5.540%, 10/16/2028 | &nbsp;&nbsp;113658 | &nbsp;&nbsp;&nbsp;&nbsp;114803 |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class A2A<br> 4.450%, 08/15/2028 | 1000000 | 1003157 |
| &nbsp;&nbsp;&nbsp;Series 2025-D, Class A2A<br> 4.030%, 11/15/2028 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;601265 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Kubota Credit Owner Trust<br> Series 2024-1A, Class A3<br> 5.190%, 07/17/2028 (B) | $&nbsp;&nbsp;700000 | $&nbsp;&nbsp;&nbsp;&nbsp;707878 |
| LAD Auto Receivables Trust<br> Series 2023-4A, Class A4<br> 6.240%, 06/15/2028 (B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;604150 |
| Mercedes-Benz Auto Lease Trust<br> Series 2025-B, Class A3<br> 3.880%, 04/16/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;500467 |
| Mercedes-Benz Auto Receivables Trust<br> Series 2023-1, Class A4<br> 4.310%, 04/16/2029 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;421613 |
| MMAF Equipment Finance LLC<br> Series 2024-A, Class A2<br> 5.200%, 09/13/2027 (B) | &nbsp;&nbsp;248359 | &nbsp;&nbsp;&nbsp;&nbsp;249013 |
| NextGear Floorplan Master Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 5.740%, 03/15/2028 (B) | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;451515 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.120%, 03/15/2029 (B) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;435880 |
| Nissan Auto Lease Trust<br> Series 2024-B, Class A3<br> 4.920%, 11/15/2027 | &nbsp;&nbsp;121000 | &nbsp;&nbsp;&nbsp;&nbsp;122190 |
| Nissan Auto Receivables Owner Trust<br> Series 2023-A, Class A3<br> 4.910%, 11/15/2027 | &nbsp;&nbsp;124266 | &nbsp;&nbsp;&nbsp;&nbsp;124619 |
| Nissan Master Owner Receivables Trust<br> Series 2024-B, Class A<br> 5.050%, 02/15/2029 (B) | &nbsp;&nbsp;432000 | &nbsp;&nbsp;&nbsp;&nbsp;437159 |
| Santander Bank Auto<br> Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A2<br> 6.024%, 12/15/2032 (B) | &nbsp;&nbsp;474839 | &nbsp;&nbsp;&nbsp;&nbsp;481298 |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class B<br> 5.640%, 12/15/2033 (B) | &nbsp;&nbsp;122808 | &nbsp;&nbsp;&nbsp;&nbsp;124552 |
| Santander Drive Auto Receivables Trust<br> Series 2022-2, Class C<br> 3.760%, 07/16/2029 | &nbsp;&nbsp;370999 | &nbsp;&nbsp;&nbsp;&nbsp;370534 |
| SBNA Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class A3<br> 6.510%, 04/20/2027 (B) | &nbsp;&nbsp;104550 | &nbsp;&nbsp;&nbsp;&nbsp;104911 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A3<br> 5.390%, 11/20/2026 (B) | &nbsp;&nbsp;172422 | &nbsp;&nbsp;&nbsp;&nbsp;172718 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A3<br> 5.560%, 11/22/2027 (B) | &nbsp;&nbsp;331949 | &nbsp;&nbsp;&nbsp;&nbsp;333715 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A4<br> 5.550%, 12/20/2028 (B) | 1350000 | 1366800 |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class A3<br> 4.830%, 04/20/2028 (B) | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;110696 |
| Stellantis Financial Underwritten Enhanced Lease Trust<br> Series 2025-AA, Class A4<br> 4.500%, 03/20/2029 (B) | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;685929 |
| Tesla Auto Lease Trust<br> Series 2023-B, Class B<br> 6.570%, 08/20/2027 (B) | &nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;621597 |
| Toyota Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-D, Class A4<br> 1.020%, 03/15/2027 | &nbsp;&nbsp;186399 | &nbsp;&nbsp;&nbsp;&nbsp;186175 |
| &nbsp;&nbsp;&nbsp;Series 2022-B, Class A4<br> 3.110%, 08/16/2027 | &nbsp;&nbsp;545191 | &nbsp;&nbsp;&nbsp;&nbsp;543901 |
| &nbsp;&nbsp;&nbsp;Series 2022-D, Class A4<br> 5.430%, 04/17/2028 | &nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;584265 |
| Toyota Lease Owner Trust<br> Series 2023-B, Class A4<br> 5.710%, 12/20/2027 (B) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;701365 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 119 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| USB Auto Owner Trust<br> Series 2025-1A, Class A2<br> 4.510%, 06/15/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;604547 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605792 |
| Verdant Receivables, LLC<br> Series 2025-1A, Class A2<br> 4.850%, 03/13/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;671905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675038 |
| Wheels Fleet Lease Funding 1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 5.490%, 02/18/2039 (B) | &nbsp;&nbsp;&nbsp;&nbsp;707883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716644 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A1<br> 4.870%, 06/21/2039 (B) | &nbsp;&nbsp;&nbsp;&nbsp;458633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463150 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A1<br> 4.800%, 09/19/2039 (B) | &nbsp;&nbsp;&nbsp;&nbsp;281129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284094 |
| World Omni Auto Receivables Trust<br> Series 2022-B, Class A4<br> 3.440%, 03/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549038 |
| World Omni Automobile Lease Securitization Trust<br> Series 2024-A, Class A4<br> 5.250%, 09/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607117 |
| TOTAL ASSET-BACKED SECURITIES (Cost $46,261,602) |  | $&nbsp;&nbsp;46353299 |
| **SHORT-TERM INVESTMENTS – 21.1%** | **SHORT-TERM INVESTMENTS – 21.1%** |  |
| **U.S. Government – 20.5%** |  |  |
| U.S. Treasury Bill |  |  |
| &nbsp;&nbsp;&nbsp;3.341%, 09/03/2026 \* | 12300000 | &nbsp;&nbsp;&nbsp;12019649 |
| &nbsp;&nbsp;&nbsp;3.669%, 05/28/2026 \* | &nbsp;&nbsp;6365000 | &nbsp;&nbsp;&nbsp;&nbsp;6274555 |
| &nbsp;&nbsp;&nbsp;3.916%, 01/22/2026 \* | 22869000 | &nbsp;&nbsp;&nbsp;22823849 |
|  |  | &nbsp;&nbsp;&nbsp;41118053 |
| **Short-term funds – 0.6%** |  |  |
| John Hancock Collateral Trust, 3.7477% (E)(F) | &nbsp;&nbsp;&nbsp;&nbsp;123201 | &nbsp;&nbsp;&nbsp;&nbsp;1232529 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $42,339,256) | TOTAL SHORT-TERM INVESTMENTS (Cost $42,339,256) | $&nbsp;&nbsp;&nbsp;42350582 |
| **Total Investments (Ultra Short Term Bond Trust)<br> (Cost $200,044,872) – 99.7%** | **Total Investments (Ultra Short Term Bond Trust)<br> (Cost $200,044,872) – 99.7%** | $**200648926** |
| **Other assets and liabilities, net – 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**689359** |
| **TOTAL NET ASSETS – 100.0%** |  | $**201338285** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| IBOR | Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | This security is 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 $48,850,972 or 24.3% of the fund's net assets as of 12-31-25. |
| (C) | All or a portion of this security is on loan as of 12-31-25. |
| (D) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (F) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $630,259. |
| \* | 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. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 120 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

The following portfolios had the following country composition as a percentage of net assets, unless otherwise indicated, on 12-31-25:

#### High Yield Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;89.3% |
| Luxembourg | &nbsp;&nbsp;2.7% |
| Canada | &nbsp;&nbsp;2.3% |
| Japan | &nbsp;&nbsp;1.7% |
| United Kingdom | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;3.0% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Strategic Income Opportunities Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;65.2% |
| Canada | &nbsp;&nbsp;8.5% |
| Australia | &nbsp;&nbsp;4.2% |
| United Kingdom | &nbsp;&nbsp;3.7% |
| New Zealand | &nbsp;&nbsp;2.4% |
| Philippines | &nbsp;&nbsp;2.3% |
| Indonesia | &nbsp;&nbsp;1.8% |
| Norway | &nbsp;&nbsp;1.6% |
| Brazil | &nbsp;&nbsp;1.6% |
| Czech Republic | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;7.7% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 121 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$558309120 | &nbsp;&nbsp;&nbsp;&nbsp;$820618019 | &nbsp;&nbsp;&nbsp;&nbsp;$177046602 | &nbsp;&nbsp;&nbsp;&nbsp;$237671650 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9017225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442798 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200000 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**559639436** | &nbsp;&nbsp;&nbsp;&nbsp;**822637753** | &nbsp;&nbsp;&nbsp;&nbsp;**186063827** | &nbsp;&nbsp;&nbsp;&nbsp;**243314448** |
| Receivable for centrally cleared swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20632 |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55323 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608276 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4822835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5544960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3211219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629409 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552230 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8728949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24707721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for delayed-delivery securities sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232328 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8028 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**573866435** | &nbsp;&nbsp;&nbsp;&nbsp;**855608337** | &nbsp;&nbsp;&nbsp;&nbsp;**189594286** | &nbsp;&nbsp;&nbsp;&nbsp;**247421198** |
| **Liabilities** |  |  |  |  |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7728 |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8746205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37878882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 |
| Payable for delayed-delivery securities purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16652802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32420162 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49900 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5962857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442790 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8992 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45265 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9389048** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**56673398** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6224898** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33225567** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$564477387** | &nbsp;&nbsp;&nbsp;&nbsp;**$798934939** | &nbsp;&nbsp;&nbsp;&nbsp;**$183369388** | &nbsp;&nbsp;&nbsp;&nbsp;**$214195631** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$634107576 | &nbsp;&nbsp;&nbsp;&nbsp;$928460037 | &nbsp;&nbsp;&nbsp;&nbsp;$265364448 | &nbsp;&nbsp;&nbsp;&nbsp;$244096213 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69630189) | &nbsp;&nbsp;&nbsp;&nbsp;(129525098) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81995060) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29900582) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$564477387** | &nbsp;&nbsp;&nbsp;&nbsp;**$798934939** | &nbsp;&nbsp;&nbsp;&nbsp;**$183369388** | &nbsp;&nbsp;&nbsp;&nbsp;**$214195631** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$568999116 | &nbsp;&nbsp;&nbsp;&nbsp;$823500987 | &nbsp;&nbsp;&nbsp;&nbsp;$184975205 | &nbsp;&nbsp;&nbsp;&nbsp;$254144765 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1330317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2019720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9017083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$442808 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$607828 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$528941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1977678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5840442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$430189 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$24991333 | &nbsp;&nbsp;&nbsp;&nbsp;$60157249 | &nbsp;&nbsp;&nbsp;&nbsp;$46647224 | &nbsp;&nbsp;&nbsp;&nbsp;$92623564 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5303190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9760779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9502801 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.75 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$99885328 | &nbsp;&nbsp;&nbsp;&nbsp;$86992926 | &nbsp;&nbsp;&nbsp;&nbsp;$29234378 | &nbsp;&nbsp;&nbsp;&nbsp;$48770106 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11933880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7682522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5916053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5001312 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.75 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$439600726 | &nbsp;&nbsp;&nbsp;&nbsp;$651784764 | &nbsp;&nbsp;&nbsp;&nbsp;$107487786 | &nbsp;&nbsp;&nbsp;&nbsp;$72801961 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52587896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57792581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23023616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7504259 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.70 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 122 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$1593999419 | &nbsp;&nbsp;&nbsp;&nbsp;$165548787 | &nbsp;&nbsp;&nbsp;&nbsp;$5581648898 | &nbsp;&nbsp;&nbsp;&nbsp;$242000105 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42877758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177331 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600675448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**2194674867** | &nbsp;&nbsp;&nbsp;&nbsp;**166790171** | &nbsp;&nbsp;&nbsp;&nbsp;**5624526656** | &nbsp;&nbsp;&nbsp;&nbsp;**242177436** |
| Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147382 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338000 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10154952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1730824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40571474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452412 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2876447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14299 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134779164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80865244 |
| Receivable for delayed-delivery securities sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9292614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6890 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**2205185576** | &nbsp;&nbsp;&nbsp;&nbsp;**183528862** | &nbsp;&nbsp;&nbsp;&nbsp;**5803253221** | &nbsp;&nbsp;&nbsp;&nbsp;**325001663** |
| **Liabilities** |  |  |  |  |
| Payable for sale commitments outstanding, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25482408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for centrally cleared swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2813 |
| Payable for collateral on OTC derivatives | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135169924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81878272 |
| Payable for delayed-delivery securities purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10564134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9289166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3023 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14551828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10311 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34214 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32190853** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40164491** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**150760111** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**81929317** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$2172994723** | &nbsp;&nbsp;&nbsp;&nbsp;**$143364371** | &nbsp;&nbsp;&nbsp;&nbsp;**$5652493110** | &nbsp;&nbsp;&nbsp;&nbsp;**$243072346** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$2172991166 | &nbsp;&nbsp;&nbsp;&nbsp;$167751040 | &nbsp;&nbsp;&nbsp;&nbsp;$6570562992 | &nbsp;&nbsp;&nbsp;&nbsp;$270635101 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24386669) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(918069882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27562755) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$2172994723** | &nbsp;&nbsp;&nbsp;&nbsp;**$143364371** | &nbsp;&nbsp;&nbsp;&nbsp;**$5652493110** | &nbsp;&nbsp;&nbsp;&nbsp;**$243072346** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$2194674867 | &nbsp;&nbsp;&nbsp;&nbsp;$167423179 | &nbsp;&nbsp;&nbsp;&nbsp;$5725342706 | &nbsp;&nbsp;&nbsp;&nbsp;$244455671 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1241379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42876482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$177333 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2186436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Proceeds received on sale commitments outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$25413801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unamortized upfront payment on OTC swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(107646) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1211390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14257521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1589412657 | &nbsp;&nbsp;&nbsp;&nbsp;$19292004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$128541282 | &nbsp;&nbsp;&nbsp;&nbsp;$20039825 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;1589462283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706076 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.75 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$40389904 | &nbsp;&nbsp;&nbsp;&nbsp;$36422898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$340459982 | &nbsp;&nbsp;&nbsp;&nbsp;$14798877 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40371016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3391369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28571055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259988 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.75 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$543192162 | &nbsp;&nbsp;&nbsp;&nbsp;$87649469 | &nbsp;&nbsp;&nbsp;&nbsp;$5183491846 | &nbsp;&nbsp;&nbsp;&nbsp;$208233644 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543197086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8036688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436073363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17731283 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.74 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 123 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$252114855 | &nbsp;&nbsp;&nbsp;&nbsp;$1067695069 | &nbsp;&nbsp;&nbsp;&nbsp;$199416397 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8393942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9453324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232529 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**260508797** | &nbsp;&nbsp;&nbsp;&nbsp;**1077148393** | &nbsp;&nbsp;&nbsp;&nbsp;**200648926** |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral segregated at custodian for OTC derivative contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3037276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8705090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346241 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21263 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2036 |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9468 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**265126595** | &nbsp;&nbsp;&nbsp;&nbsp;**1085893312** | &nbsp;&nbsp;&nbsp;&nbsp;**202027934** |
| **Liabilities** |  |  |  |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for delayed-delivery securities purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3811346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15889 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630258 |
| Payable to affiliates |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8810 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33910 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2572320** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7547147** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**689649** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$262554275** | &nbsp;&nbsp;&nbsp;&nbsp;**$1078346165** | &nbsp;&nbsp;&nbsp;&nbsp;**$201338285** |
| **Net assets consist of** |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$286433962 | &nbsp;&nbsp;&nbsp;&nbsp;$1156500397 | &nbsp;&nbsp;&nbsp;&nbsp;$220221216 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23879687) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78154232) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18882931) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$262554275** | &nbsp;&nbsp;&nbsp;&nbsp;**$1078346165** | &nbsp;&nbsp;&nbsp;&nbsp;**$201338285** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$249864657 | &nbsp;&nbsp;&nbsp;&nbsp;$1113649374 | &nbsp;&nbsp;&nbsp;&nbsp;$198812359 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8393628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9453504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1232513 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$136563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$103146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$864397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1594435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$616803 |
| **Net asset value per share** |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |
| **Series I** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$51079034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$360534960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9639844 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4074186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39705872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845543 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.40 |
| **Series II** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$77670346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$41689041 | &nbsp;&nbsp;&nbsp;&nbsp;$153405039 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6177455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4585395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13464294 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.39 |
| **Series NAV** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$133804895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$676122164 | &nbsp;&nbsp;&nbsp;&nbsp;$38293402 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10714073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74477166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3357217 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.41 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 124 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** |
| Interest | &nbsp;&nbsp;&nbsp;$27287389 | &nbsp;&nbsp;&nbsp;$36012414 | &nbsp;&nbsp;&nbsp;$12555403 | &nbsp;&nbsp;&nbsp;&nbsp;$9663436 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2102 |
| Other income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**27535015** | &nbsp;&nbsp;&nbsp;&nbsp;**36870540** | &nbsp;&nbsp;&nbsp;&nbsp;**12909722** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9665570** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3328030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4525985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260376 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169578 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36626 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5894 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52169 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30352 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111775 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25720 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3920444** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5170011** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1377771** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1692490** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50006) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(108027) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18206) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3870438** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5101993** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1269744** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1674284** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**23664577** | &nbsp;&nbsp;&nbsp;&nbsp;**31768547** | &nbsp;&nbsp;&nbsp;&nbsp;**11639978** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7991286** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6065107) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2684223) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3953975) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1767659) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3982) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(744875) |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(298948) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105899 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5952479)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2684204)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3979092)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2705595)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;21995443 | &nbsp;&nbsp;&nbsp;&nbsp;24191281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5008884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8730582 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100650) |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86063) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65393 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**21995386** | &nbsp;&nbsp;&nbsp;&nbsp;**24191318** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5044056** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8609253** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**16042907** | &nbsp;&nbsp;&nbsp;&nbsp;**21507114** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1064964** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5903658** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$39707484** | &nbsp;&nbsp;&nbsp;**$53275661** | &nbsp;&nbsp;&nbsp;**$12704942** | &nbsp;&nbsp;&nbsp;**$13894944** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 125 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** |
| Interest | &nbsp;&nbsp;&nbsp;$97194504 | &nbsp;&nbsp;&nbsp;&nbsp;$7987269 | &nbsp;&nbsp;&nbsp;$254569066 | &nbsp;&nbsp;&nbsp;&nbsp;$8425818 |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99126 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75609) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**97194504** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8721175** | &nbsp;&nbsp;&nbsp;&nbsp;**257059344** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8524944** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7772010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32268197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1308889 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48534 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39557 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5738 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37706 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24178 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79665 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22921 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9716909** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1396633** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**35562860** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1567188** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2392429) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(201750) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1690976) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21707) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7324480** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1194883** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33871884** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1545481** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**89870024** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7526292** | &nbsp;&nbsp;&nbsp;&nbsp;**223187460** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6979463** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2377590) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59880914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529688 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(806) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13977) |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3689690) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(814561) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11294** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5146117)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(58618562)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1518246** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;11857197 | &nbsp;&nbsp;&nbsp;&nbsp;245926620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449409 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3567) |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(731115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(982191) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**10263603** | &nbsp;&nbsp;&nbsp;&nbsp;**245927736** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2445843** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11294** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5117486** | &nbsp;&nbsp;&nbsp;&nbsp;**187309174** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3964089** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$89881318** | &nbsp;&nbsp;&nbsp;**$12643778** | &nbsp;&nbsp;&nbsp;**$410496634** | &nbsp;&nbsp;&nbsp;**$10943552** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 126 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
| Interest | &nbsp;&nbsp;&nbsp;$17411452 | &nbsp;&nbsp;&nbsp;$41645061 | &nbsp;&nbsp;&nbsp;$10071286 |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138794 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8245 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(177321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**17964547** | &nbsp;&nbsp;&nbsp;&nbsp;**41954406** | &nbsp;&nbsp;&nbsp;&nbsp;**10218325** |
| **Expenses** |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2170423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4838475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216726 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435968 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38356 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6173 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37375 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25532 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57613 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18984 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2781934** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5613890** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1836727** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2756139) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153192) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2750027** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2857751** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1683535** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**15214520** | &nbsp;&nbsp;&nbsp;&nbsp;**39096655** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8534790** |
| **Realized and unrealized gain (loss)** |  |  |  |
| **Net realized gain (loss) on** |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;(11027464) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6885767) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480403 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(499804) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(10602030)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6885926)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**480714** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;23965344 | &nbsp;&nbsp;&nbsp;&nbsp;37069034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100997) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(339097) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5117305) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27997) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**18480863** | &nbsp;&nbsp;&nbsp;&nbsp;**37069011** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(100984)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7878833** | &nbsp;&nbsp;&nbsp;&nbsp;**30183085** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**379730** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$23093353** | &nbsp;&nbsp;&nbsp;**$69279740** | &nbsp;&nbsp;&nbsp;&nbsp;**$8914520** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 127 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;$23664577 | &nbsp;&nbsp;&nbsp;&nbsp;$22464839 | &nbsp;&nbsp;&nbsp;&nbsp;$31768547 | &nbsp;&nbsp;&nbsp;&nbsp;$31838752 | &nbsp;&nbsp;&nbsp;&nbsp;$11639978 | &nbsp;&nbsp;&nbsp;&nbsp;$12983631 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5952479) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11181589) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2684204) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11448641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3979092) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(898474) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21995386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24191318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8621336) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5044056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3641487 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39707484** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11915352** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53275661** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11768775** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12704942** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15726644** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1101311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(978956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2511526) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2269604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3436160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3323747) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4240506) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3626047) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3408205) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2461778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2027601) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2058235) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19331192) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16137624) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27507907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24562479) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7835548) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7348289) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24673009)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20742627)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(33427638)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(29293861)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13299309)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12730271)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(834197) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16834803) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13009122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4987409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4346525) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14200278** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6259525)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3013220** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4515964)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4393042** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1350152)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;550277109 | &nbsp;&nbsp;&nbsp;&nbsp;556536634 | &nbsp;&nbsp;&nbsp;&nbsp;795921719 | &nbsp;&nbsp;&nbsp;&nbsp;800437683 | &nbsp;&nbsp;&nbsp;&nbsp;178976346 | &nbsp;&nbsp;&nbsp;&nbsp;180326498 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$564477387** | &nbsp;&nbsp;&nbsp;**$550277109** | &nbsp;&nbsp;&nbsp;**$798934939** | &nbsp;&nbsp;&nbsp;**$795921719** | &nbsp;&nbsp;&nbsp;**$183369388** | &nbsp;&nbsp;&nbsp;**$178976346** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7991286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8300858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$89870024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$110079884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7526292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8168525 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2705595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4139878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5146117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1283638) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8609253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10263603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7243766) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13894944** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4290798** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**89881318** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**110067178** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12643778** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(358879)** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4101302) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3328599) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65760417) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83631796) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1147431) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(630357) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2107265) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1608321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1645226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2434385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2205737) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1231351) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3073490) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2402374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22464380) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24013694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5336378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2760700) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9282057)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7339294)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(89870023)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(110079875)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8689546)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4622408)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7486972) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5677669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73504153) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41015756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17637333) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2874085)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2629173** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(73492858)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(41028453)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4839860** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22618620)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;217069716 | &nbsp;&nbsp;&nbsp;&nbsp;214440543 | &nbsp;&nbsp;&nbsp;&nbsp;2246487581 | &nbsp;&nbsp;&nbsp;&nbsp;2287516034 | &nbsp;&nbsp;&nbsp;&nbsp;138524511 | &nbsp;&nbsp;&nbsp;&nbsp;161143131 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$214195631** | &nbsp;&nbsp;&nbsp;**$217069716** | &nbsp;&nbsp;&nbsp;**$2172994723** | &nbsp;&nbsp;&nbsp;**$2246487581** | &nbsp;&nbsp;&nbsp;**$143364371** | &nbsp;&nbsp;&nbsp;**$138524511** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 128 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$223187460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$220760724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6979463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4267207 | &nbsp;&nbsp;&nbsp;&nbsp;$15214520 | &nbsp;&nbsp;&nbsp;&nbsp;$16812818 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58618562) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48201062) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3177579) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10602030) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7907520) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245927736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60542623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18480863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3246219 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**410496634** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**112017039** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10943552** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4483772** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23093353** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12151517** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5323649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4851070) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(375929) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(192105) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3976478) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6080285) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13456550) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12063002) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(232325) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109272) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5878894) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1629545) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(214367302) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(195538292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3846727) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1053611) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8347596) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3769843) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(233147501)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(212452364)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4454981)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1354988)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18202968)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11479673)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(393023541) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48166703) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76674942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13167102) | &nbsp;&nbsp;&nbsp;&nbsp;(170283351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41819289 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(215674408)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(148602028)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**83163513** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10038318)** | &nbsp;&nbsp;&nbsp;&nbsp;**(165392966)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42491133** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;5868167518 | &nbsp;&nbsp;&nbsp;&nbsp;6016769546 | &nbsp;&nbsp;&nbsp;&nbsp;159908833 | &nbsp;&nbsp;&nbsp;&nbsp;169947151 | &nbsp;&nbsp;&nbsp;&nbsp;427947241 | &nbsp;&nbsp;&nbsp;&nbsp;385456108 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$5652493110** | &nbsp;&nbsp;&nbsp;**$5868167518** | &nbsp;&nbsp;&nbsp;**$243072346** | &nbsp;&nbsp;&nbsp;**$159908833** | &nbsp;&nbsp;&nbsp;**$262554275** | &nbsp;&nbsp;&nbsp;**$427947241** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |
| **From operations** |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$39096655 | &nbsp;&nbsp;&nbsp;&nbsp;$33194433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8534790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9588933 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6885926) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9369221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13705 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37069011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14785117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100984) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515271 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**69279740** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9040095** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8914520** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11117909** |
| **Distributions to shareholders** |  |  |  |  |
| From earnings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12526477) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9635932) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(456667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(151410) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1468247) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1183714) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7462974) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2607674) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25273918) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19167367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1854208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(589772) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(39268642)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(29987013)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9773849)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3348856)** |
| **From portfolio share transactions** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48484389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80303024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22353838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33221178) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**78495487** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59356106** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(23213167)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(25452125)** |
| **Net assets** |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999850678 | &nbsp;&nbsp;&nbsp;&nbsp;940494572 | &nbsp;&nbsp;&nbsp;&nbsp;224551452 | &nbsp;&nbsp;&nbsp;&nbsp;250003577 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$1078346165** | &nbsp;&nbsp;&nbsp;**$999850678** | &nbsp;&nbsp;&nbsp;**$201338285** | &nbsp;&nbsp;&nbsp;**$224551452** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 129 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** |  | **Ratios and supplemental data** | **Ratios and supplemental data** | **Ratios and supplemental data** |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | &nbsp;&nbsp;8.13 | 0.36 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;0.60 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.38) | &nbsp;&nbsp;8.35 | &nbsp;&nbsp;&nbsp;7.39 | 0.71 | 0.70 | 4.26 | &nbsp;&nbsp;25 | &nbsp;&nbsp;90 |
| 12-31-2024 | &nbsp;&nbsp;8.26 | 0.34 | (0.15) | &nbsp;&nbsp;0.19 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;8.13 | &nbsp;&nbsp;&nbsp;2.25 | 0.71 | 0.70 | 4.07 | &nbsp;&nbsp;26 | 111 |
| 12-31-2023 | &nbsp;&nbsp;8.06 | 0.30 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.49 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;8.26 | &nbsp;&nbsp;&nbsp;6.43 | 0.71 | 0.71 | 3.68 | &nbsp;&nbsp;27 | &nbsp;&nbsp;85 |
| 12-31-2022 | &nbsp;&nbsp;9.79 | 0.27 | (1.64) | (1.37) | (0.30) | (0.06) | (0.36) | &nbsp;&nbsp;8.06 | (13.85) | 0.71 | 0.70 | 3.05 | &nbsp;&nbsp;26 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.34 | 0.24 | (0.30) | (0.06) | (0.33) | (0.16) | (0.49) | &nbsp;&nbsp;9.79 | &nbsp;&nbsp;(0.57) | 0.70 | 0.69 | 2.35 | &nbsp;&nbsp;34 | &nbsp;&nbsp;95 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | &nbsp;&nbsp;8.15 | 0.34 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;0.59 | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.37) | &nbsp;&nbsp;8.37 | &nbsp;&nbsp;&nbsp;7.18 | 0.91 | 0.90 | 4.06 | 100 | &nbsp;&nbsp;90 |
| 12-31-2024 | &nbsp;&nbsp;8.28 | 0.32 | (0.15) | &nbsp;&nbsp;0.17 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | &nbsp;&nbsp;8.15 | &nbsp;&nbsp;&nbsp;2.06 | 0.91 | 0.90 | 3.87 | 100 | 111 |
| 12-31-2023 | &nbsp;&nbsp;8.08 | 0.29 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.48 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;8.28 | &nbsp;&nbsp;&nbsp;6.21 | 0.91 | 0.91 | 3.48 | 105 | &nbsp;&nbsp;85 |
| 12-31-2022 | &nbsp;&nbsp;9.81 | 0.25 | (1.64) | (1.39) | (0.28) | (0.06) | (0.34) | &nbsp;&nbsp;8.08 | (14.02) | 0.91 | 0.90 | 2.83 | 103 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.36 | 0.22 | (0.30) | (0.08) | (0.31) | (0.16) | (0.47) | &nbsp;&nbsp;9.81 | &nbsp;&nbsp;(0.77) | 0.90 | 0.89 | 2.15 | 144 | &nbsp;&nbsp;95 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | &nbsp;&nbsp;8.13 | 0.36 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;0.61 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.38) | &nbsp;&nbsp;8.36 | &nbsp;&nbsp;&nbsp;7.56 | 0.66 | 0.65 | 4.31 | 440 | &nbsp;&nbsp;90 |
| 12-31-2024 | &nbsp;&nbsp;8.27 | 0.34 | (0.16) | &nbsp;&nbsp;0.18 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;8.13 | &nbsp;&nbsp;&nbsp;2.16 | 0.66 | 0.65 | 4.12 | 425 | 111 |
| 12-31-2023 | &nbsp;&nbsp;8.07 | 0.31 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.50 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | &nbsp;&nbsp;8.27 | &nbsp;&nbsp;&nbsp;6.48 | 0.66 | 0.66 | 3.73 | 425 | &nbsp;&nbsp;85 |
| 12-31-2022 | &nbsp;&nbsp;9.80 | 0.27 | (1.63) | (1.36) | (0.31) | (0.06) | (0.37) | &nbsp;&nbsp;8.07 | (13.78) | 0.66 | 0.65 | 3.10 | 420 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.34 | 0.24 | (0.28) | (0.04) | (0.34) | (0.16) | (0.50) | &nbsp;&nbsp;9.80 | &nbsp;&nbsp;(0.42) | 0.65 | 0.64 | 2.40 | 549 | &nbsp;&nbsp;95 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 11.06 | 0.46 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;0.77 | (0.49) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.49) | 11.34 | &nbsp;&nbsp;&nbsp;6.94 | 0.68 | 0.67 | 4.03 | &nbsp;&nbsp;60 | 234 |
| 12-31-2024 | 11.31 | 0.45 | (0.28) | &nbsp;&nbsp;0.17 | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.42) | 11.06 | &nbsp;&nbsp;&nbsp;1.48 | 0.68 | 0.67 | 3.98 | &nbsp;&nbsp;61 | 233 |
| 12-31-2023 | 11.04 | 0.39 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.61 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | 11.31 | &nbsp;&nbsp;&nbsp;5.80 | 0.69 | 0.68 | 3.49 | &nbsp;&nbsp;63 | 258 |
| 12-31-2022 | 13.10 | 0.23 | (2.03) | (1.80) | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | 11.04 | (13.67) | 0.68 | 0.68 | 1.95 | &nbsp;&nbsp;64 | 275 |
| 12-31-2021 | 14.23 | 0.11 | (0.39) | (0.28) | (0.26) | (0.59) | (0.85) | 13.10 | &nbsp;&nbsp;(1.96) | 0.67 | 0.66 | 0.82 | &nbsp;&nbsp;84 | 269 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 11.04 | 0.43 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.75 | (0.47) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.47) | 11.32 | &nbsp;&nbsp;&nbsp;6.77 | 0.88 | 0.87 | 3.83 | &nbsp;&nbsp;87 | 234 |
| 12-31-2024 | 11.30 | 0.43 | (0.29) | &nbsp;&nbsp;0.14 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.40) | 11.04 | &nbsp;&nbsp;&nbsp;1.22 | 0.88 | 0.87 | 3.78 | &nbsp;&nbsp;77 | 233 |
| 12-31-2023 | 11.03 | 0.37 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.59 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | 11.30 | &nbsp;&nbsp;&nbsp;5.61 | 0.89 | 0.88 | 3.30 | &nbsp;&nbsp;69 | 258 |
| 12-31-2022 | 13.08 | 0.21 | (2.02) | (1.81) | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | 11.03 | (13.81) | 0.88 | 0.88 | 1.76 | &nbsp;&nbsp;64 | 275 |
| 12-31-2021 | 14.22 | 0.09 | (0.41) | (0.32) | (0.23) | (0.59) | (0.82) | 13.08 | &nbsp;&nbsp;(2.23) | 0.87 | 0.86 | 0.62 | &nbsp;&nbsp;79 | 269 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 11.00 | 0.46 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;0.77 | (0.49) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.49) | 11.28 | &nbsp;&nbsp;&nbsp;7.03 | 0.63 | 0.62 | 4.08 | 652 | 234 |
| 12-31-2024 | 11.25 | 0.45 | (0.27) | &nbsp;&nbsp;0.18 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.43) | 11.00 | &nbsp;&nbsp;&nbsp;1.54 | 0.63 | 0.62 | 4.03 | 657 | 233 |
| 12-31-2023 | 10.98 | 0.39 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.62 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | 11.25 | &nbsp;&nbsp;&nbsp;5.89 | 0.64 | 0.63 | 3.55 | 669 | 258 |
| 12-31-2022 | 13.03 | 0.24 | (2.02) | (1.78) | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 10.98 | (13.62) | 0.63 | 0.63 | 2.00 | 658 | 275 |
| 12-31-2021 | 14.17 | 0.12 | (0.41) | (0.29) | (0.26) | (0.59) | (0.85) | 13.03 | &nbsp;&nbsp;(1.99) | 0.62 | 0.61 | 0.87 | 836 | 269 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 130 |

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[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | &nbsp;&nbsp;4.80 | 0.32 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.35 | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.37) | &nbsp;&nbsp;4.78 | &nbsp;&nbsp;&nbsp;7.46 | 0.77 | 0.71 | 6.51 | &nbsp;&nbsp;47 | 147<sup>3</sup> |
| 12-31-2024 | &nbsp;&nbsp;4.73 | 0.35 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;0.42 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | &nbsp;&nbsp;4.80 | &nbsp;&nbsp;&nbsp;8.95 | 0.88 | 0.87 | 7.12 | &nbsp;&nbsp;48 | &nbsp;&nbsp;38 |
| 12-31-2023 | &nbsp;&nbsp;4.30 | 0.33 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.55 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;13.05 | 0.87 | 0.86 | 7.24 | &nbsp;&nbsp;50 | &nbsp;&nbsp;38 |
| 12-31-2022 | &nbsp;&nbsp;5.30 | 0.29 | (1.00) | (0.71) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;4.30 | (13.25) | 0.85 | 0.84 | 6.03 | &nbsp;&nbsp;50 | &nbsp;&nbsp;32 |
| 12-31-2021 | &nbsp;&nbsp;5.27 | 0.27 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.31 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;5.30 | &nbsp;&nbsp;&nbsp;5.82 | 0.83 | 0.82 | 4.99 | &nbsp;&nbsp;64 | &nbsp;&nbsp;76 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | &nbsp;&nbsp;4.95 | 0.32 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.36 | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.37) | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;&nbsp;7.25 | 0.97 | 0.91 | 6.30 | &nbsp;&nbsp;29 | 147<sup>3</sup> |
| 12-31-2024 | &nbsp;&nbsp;4.87 | 0.35 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;0.42 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | &nbsp;&nbsp;4.95 | &nbsp;&nbsp;&nbsp;8.72 | 1.08 | 1.07 | 6.92 | &nbsp;&nbsp;31 | &nbsp;&nbsp;38 |
| 12-31-2023 | &nbsp;&nbsp;4.43 | 0.33 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.55 | (0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.11) | &nbsp;&nbsp;4.87 | &nbsp;&nbsp;12.70 | 1.07 | 1.06 | 7.04 | &nbsp;&nbsp;32 | &nbsp;&nbsp;38 |
| 12-31-2022 | &nbsp;&nbsp;5.45 | 0.28 | (1.02) | (0.74) | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;4.43 | (13.45) | 1.05 | 1.04 | 5.80 | &nbsp;&nbsp;33 | &nbsp;&nbsp;32 |
| 12-31-2021 | &nbsp;&nbsp;5.41 | 0.27 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.30 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | &nbsp;&nbsp;5.45 | &nbsp;&nbsp;&nbsp;5.67 | 1.03 | 1.02 | 4.79 | &nbsp;&nbsp;48 | &nbsp;&nbsp;76 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | &nbsp;&nbsp;4.70 | 0.31 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.35 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.38) | &nbsp;&nbsp;4.67 | &nbsp;&nbsp;&nbsp;7.45 | 0.72 | 0.66 | 6.56 | 107 | 147<sup>3</sup> |
| 12-31-2024 | &nbsp;&nbsp;4.63 | 0.34 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.42 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | &nbsp;&nbsp;4.70 | &nbsp;&nbsp;&nbsp;9.19 | 0.83 | 0.82 | 7.17 | 101 | &nbsp;&nbsp;38 |
| 12-31-2023 | &nbsp;&nbsp;4.22 | 0.32 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;0.53 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | &nbsp;&nbsp;4.63 | &nbsp;&nbsp;12.87 | 0.82 | 0.81 | 7.30 | &nbsp;&nbsp;98 | &nbsp;&nbsp;38 |
| 12-31-2022 | &nbsp;&nbsp;5.20 | 0.28 | (0.97) | (0.69) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;4.22 | (13.07) | 0.80 | 0.79 | 6.12 | &nbsp;&nbsp;85 | &nbsp;&nbsp;32 |
| 12-31-2021 | &nbsp;&nbsp;5.18 | 0.27 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.30 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;5.20 | &nbsp;&nbsp;&nbsp;5.78 | 0.78 | 0.77 | 5.05 | &nbsp;&nbsp;96 | &nbsp;&nbsp;76 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | &nbsp;&nbsp;9.53 | 0.38 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.67 | (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.45) | &nbsp;&nbsp;9.75 | &nbsp;&nbsp;&nbsp;6.97 | 0.78 | 0.77 | 3.83 | &nbsp;&nbsp;93 | &nbsp;&nbsp;49 |
| 12-31-2024 | &nbsp;&nbsp;9.67 | 0.38 | (0.18) | &nbsp;&nbsp;0.20 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | &nbsp;&nbsp;9.53 | &nbsp;&nbsp;&nbsp;2.00 | 0.75 | 0.75 | 3.87 | &nbsp;&nbsp;97 | &nbsp;&nbsp;44 |
| 12-31-2023 | &nbsp;&nbsp;9.22 | 0.33 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.60 | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;6.49 | 0.77 | 0.76 | 3.52 | 101 | &nbsp;&nbsp;41 |
| 12-31-2022 | 11.50 | 0.27 | (2.01) | (1.74) | (0.33) | (0.21) | (0.54) | &nbsp;&nbsp;9.22 | (14.88) | 0.76 | 0.75 | 2.62 | 100 | &nbsp;&nbsp;39 |
| 12-31-2021 | 12.17 | 0.22 | (0.37) | (0.15) | (0.25) | (0.27) | (0.52) | 11.50 | &nbsp;&nbsp;(1.26) | 0.74 | 0.73 | 1.86 | 134 | &nbsp;&nbsp;37 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | &nbsp;&nbsp;9.54 | 0.36 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.64 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.43) | &nbsp;&nbsp;9.75 | &nbsp;&nbsp;&nbsp;6.67 | 0.98 | 0.97 | 3.63 | &nbsp;&nbsp;49 | &nbsp;&nbsp;49 |
| 12-31-2024 | &nbsp;&nbsp;9.68 | 0.36 | (0.18) | &nbsp;&nbsp;0.18 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;9.54 | &nbsp;&nbsp;&nbsp;1.82 | 0.95 | 0.95 | 3.66 | &nbsp;&nbsp;50 | &nbsp;&nbsp;44 |
| 12-31-2023 | &nbsp;&nbsp;9.23 | 0.31 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.58 | (0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.13) | &nbsp;&nbsp;9.68 | &nbsp;&nbsp;&nbsp;6.28 | 0.97 | 0.96 | 3.32 | &nbsp;&nbsp;51 | &nbsp;&nbsp;41 |
| 12-31-2022 | 11.50 | 0.25 | (2.00) | (1.75) | (0.31) | (0.21) | (0.52) | &nbsp;&nbsp;9.23 | (15.06) | 0.96 | 0.95 | 2.42 | &nbsp;&nbsp;51 | &nbsp;&nbsp;39 |
| 12-31-2021 | 12.18 | 0.20 | (0.39) | (0.19) | (0.22) | (0.27) | (0.49) | 11.50 | &nbsp;&nbsp;(1.45) | 0.94 | 0.93 | 1.66 | &nbsp;&nbsp;71 | &nbsp;&nbsp;37 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | &nbsp;&nbsp;9.49 | 0.38 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.66 | (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.45) | &nbsp;&nbsp;9.70 | &nbsp;&nbsp;&nbsp;6.94 | 0.73 | 0.72 | 3.89 | &nbsp;&nbsp;73 | &nbsp;&nbsp;49 |
| 12-31-2024 | &nbsp;&nbsp;9.63 | 0.38 | (0.18) | &nbsp;&nbsp;0.20 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | &nbsp;&nbsp;9.49 | &nbsp;&nbsp;&nbsp;2.05 | 0.70 | 0.70 | 3.92 | &nbsp;&nbsp;70 | &nbsp;&nbsp;44 |
| 12-31-2023 | &nbsp;&nbsp;9.18 | 0.33 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.60 | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | &nbsp;&nbsp;9.63 | &nbsp;&nbsp;&nbsp;6.57 | 0.72 | 0.71 | 3.58 | &nbsp;&nbsp;62 | &nbsp;&nbsp;41 |
| 12-31-2022 | 11.45 | 0.27 | (2.00) | (1.73) | (0.33) | (0.21) | (0.54) | &nbsp;&nbsp;9.18 | (14.88) | 0.71 | 0.70 | 2.70 | &nbsp;&nbsp;56 | &nbsp;&nbsp;39 |
| 12-31-2021 | 12.13 | 0.23 | (0.39) | (0.16) | (0.25) | (0.27) | (0.52) | 11.45 | &nbsp;&nbsp;(1.21) | 0.69 | 0.68 | 1.91 | &nbsp;&nbsp;65 | &nbsp;&nbsp;37 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 131 |

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[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | &nbsp;&nbsp;1.00 | 0.039 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.039 | (0.039) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.039) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.02 | 0.44 | 0.33 | 3.94 | 1589 | &nbsp;&nbsp;— |
| 12-31-2024 | &nbsp;&nbsp;1.00 | 0.049 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.049 | (0.049) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.049) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.97 | 0.44 | 0.33 | 4.86 | 1659 | &nbsp;&nbsp;— |
| 12-31-2023 | &nbsp;&nbsp;1.00 | 0.047 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.047 | (0.047) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.047) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.76 | 0.44 | 0.33 | 4.66 | 1780 | &nbsp;&nbsp;— |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.013 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.013 | (0.013) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.013) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.29 | 0.44 | 0.33 | 1.33 | 1778 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>4</sup> | 0.44 | 0.07 | &nbsp;&nbsp;&nbsp;— | 1522 | &nbsp;&nbsp;— |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | &nbsp;&nbsp;1.00 | 0.038 | (0.001)<sup>5</sup> | 0.037 | (0.037) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.037) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;3.81 | 0.64 | 0.53 | 3.75 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;— |
| 12-31-2024 | &nbsp;&nbsp;1.00 | 0.047 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.047 | (0.047) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.047) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.77 | 0.64 | 0.53 | 4.67 | &nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;— |
| 12-31-2023 | &nbsp;&nbsp;1.00 | 0.044 | &nbsp;&nbsp;0.001 | 0.045 | (0.045) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.045) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.55 | 0.64 | 0.53 | 4.44 | &nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;— |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.010 | &nbsp;&nbsp;0.001 | 0.011 | (0.011) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.011) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.07 | 0.64 | 0.53 | 1.00 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>4</sup> | 0.64 | 0.07 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;— |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | &nbsp;&nbsp;1.00 | 0.040 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.040 | (0.040) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.040) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.07 | 0.39 | 0.28 | 4.00 | &nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;— |
| 12-31-2024 | &nbsp;&nbsp;1.00 | 0.049 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.049 | (0.049) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.049) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;5.03 | 0.39 | 0.28 | 4.91 | &nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;— |
| 12-31-2023 | &nbsp;&nbsp;1.00 | 0.047 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.047 | (0.047) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.047) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.81 | 0.39 | 0.28 | 4.70 | &nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;— |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.014 | (0.001) | 0.013 | (0.013) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.013) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.34 | 0.39 | 0.28 | 1.36 | &nbsp;&nbsp;&nbsp;484 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>4</sup> | 0.39 | 0.07 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;— |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%. 5. The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.** |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 10.64 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;(0.70) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.70) | 10.96 | &nbsp;&nbsp;&nbsp;9.51 | 0.97 | 0.83 | 5.37 | &nbsp;&nbsp;&nbsp;&nbsp;19 | 157 |
| 12-31-2024 | 11.03 | &nbsp;&nbsp;0.59 | &nbsp;&nbsp;(0.62) | (0.03) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | 10.64 | &nbsp;&nbsp;(0.32) | 0.94 | 0.82 | 5.40 | &nbsp;&nbsp;&nbsp;&nbsp;19 | 101 |
| 12-31-2023 | 10.48 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.29) | 11.03 | &nbsp;&nbsp;&nbsp;8.23 | 0.93 | 0.82 | 5.35 | &nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;89 |
| 12-31-2022 | 12.31 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;(1.87) | (1.40) | &nbsp;&nbsp;(0.30) | (0.13) | &nbsp;&nbsp;(0.43) | 10.48 | (11.12) | 0.90 | 0.82 | 4.31 | &nbsp;&nbsp;&nbsp;&nbsp;21 | 119 |
| 12-31-2021 | 13.47 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;(0.66) | (0.28) | &nbsp;&nbsp;(0.37) | (0.51) | &nbsp;&nbsp;(0.88) | 12.31 | &nbsp;&nbsp;(2.02) | 0.85 | 0.82 | 2.90 | &nbsp;&nbsp;&nbsp;&nbsp;29 | 126 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 10.44 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;0.98 | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.68) | 10.74 | &nbsp;&nbsp;&nbsp;9.20 | 1.17 | 1.03 | 5.15 | &nbsp;&nbsp;&nbsp;&nbsp;36 | 157 |
| 12-31-2024 | 10.83 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;(0.61) | (0.05) | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.34) | 10.44 | &nbsp;&nbsp;(0.41) | 1.14 | 1.02 | 5.20 | &nbsp;&nbsp;&nbsp;&nbsp;37 | 101 |
| 12-31-2023 | 10.29 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.27) | 10.83 | &nbsp;&nbsp;&nbsp;7.97 | 1.13 | 1.02 | 5.13 | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;89 |
| 12-31-2022 | 12.10 | &nbsp;&nbsp;0.44 | &nbsp;&nbsp;(1.84) | (1.40) | &nbsp;&nbsp;(0.28) | (0.13) | &nbsp;&nbsp;(0.41) | 10.29 | (11.26) | 1.10 | 1.02 | 4.11 | &nbsp;&nbsp;&nbsp;&nbsp;43 | 119 |
| 12-31-2021 | 13.25 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;(0.64) | (0.29) | &nbsp;&nbsp;(0.35) | (0.51) | &nbsp;&nbsp;(0.86) | 12.10 | &nbsp;&nbsp;(2.26) | 1.05 | 1.02 | 2.70 | &nbsp;&nbsp;&nbsp;&nbsp;56 | 126 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 10.59 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;(0.70) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.70) | 10.91 | &nbsp;&nbsp;&nbsp;9.60 | 0.92 | 0.78 | 5.41 | &nbsp;&nbsp;&nbsp;&nbsp;88 | 157 |
| 12-31-2024 | 10.98 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;(0.62) | (0.02) | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.37) | 10.59 | &nbsp;&nbsp;(0.27) | 0.89 | 0.77 | 5.46 | &nbsp;&nbsp;&nbsp;&nbsp;83 | 101 |
| 12-31-2023 | 10.43 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.29) | 10.98 | &nbsp;&nbsp;&nbsp;8.21 | 0.88 | 0.77 | 5.40 | &nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;89 |
| 12-31-2022 | 12.25 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;(1.86) | (1.38) | &nbsp;&nbsp;(0.31) | (0.13) | &nbsp;&nbsp;(0.44) | 10.43 | (10.96) | 0.85 | 0.77 | 4.38 | &nbsp;&nbsp;&nbsp;&nbsp;96 | 119 |
| 12-31-2021 | 13.41 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;(0.66) | (0.27) | &nbsp;&nbsp;(0.38) | (0.51) | &nbsp;&nbsp;(0.89) | 12.25 | &nbsp;&nbsp;(2.06) | 0.80 | 0.77 | 2.95 | &nbsp;&nbsp;&nbsp;126 | 126 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 132 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 11.54 | 0.47 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;0.86 | (0.50) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.50) | 11.90 | &nbsp;&nbsp;&nbsp;7.47 | 0.66 | 0.63 | 3.93 | &nbsp;&nbsp;&nbsp;129 | 107 |
| 12-31-2024 | 11.75 | 0.43 | (0.21) | &nbsp;&nbsp;0.22 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.43) | 11.54 | &nbsp;&nbsp;&nbsp;1.83 | 0.66 | 0.62 | 3.68 | &nbsp;&nbsp;&nbsp;134 | 114 |
| 12-31-2023 | 11.46 | 0.39 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.67 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.38) | 11.75 | &nbsp;&nbsp;&nbsp;6.10 | 0.66 | 0.63 | 3.36 | &nbsp;&nbsp;&nbsp;139 | 146 |
| 12-31-2022 | 13.94 | 0.32 | (2.32) | (2.00) | (0.38) | (0.10) | (0.48) | 11.46 | (14.20) | 0.66 | 0.62 | 2.56 | &nbsp;&nbsp;&nbsp;135 | 120 |
| 12-31-2021 | 14.59 | 0.28 | (0.45) | (0.17) | (0.41) | (0.07) | (0.48) | 13.94 | &nbsp;&nbsp;(1.20) | 0.65 | 0.61 | 1.94 | &nbsp;&nbsp;&nbsp;177 | 132 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 11.55 | 0.44 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;0.85 | (0.48) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.48) | 11.92 | &nbsp;&nbsp;&nbsp;7.36 | 0.86 | 0.83 | 3.73 | &nbsp;&nbsp;&nbsp;340 | 107 |
| 12-31-2024 | 11.77 | 0.41 | (0.22) | &nbsp;&nbsp;0.19 | (0.41) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.41) | 11.55 | &nbsp;&nbsp;&nbsp;1.56 | 0.86 | 0.82 | 3.47 | &nbsp;&nbsp;&nbsp;356 | 114 |
| 12-31-2023 | 11.48 | 0.37 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.64 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | 11.77 | &nbsp;&nbsp;&nbsp;5.88 | 0.86 | 0.83 | 3.16 | &nbsp;&nbsp;&nbsp;390 | 146 |
| 12-31-2022 | 13.96 | 0.30 | (2.32) | (2.02) | (0.36) | (0.10) | (0.46) | 11.48 | (14.38) | 0.86 | 0.82 | 2.40 | &nbsp;&nbsp;&nbsp;413 | 120 |
| 12-31-2021 | 14.61 | 0.25 | (0.45) | (0.20) | (0.38) | (0.07) | (0.45) | 13.96 | &nbsp;&nbsp;(1.39) | 0.85 | 0.81 | 1.74 | &nbsp;&nbsp;&nbsp;415 | 132 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 11.53 | 0.47 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;0.87 | (0.51) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.51) | 11.89 | &nbsp;&nbsp;&nbsp;7.52 | 0.61 | 0.59 | 3.97 | 5183 | 107 |
| 12-31-2024 | 11.74 | 0.44 | (0.22) | &nbsp;&nbsp;0.22 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.43) | 11.53 | &nbsp;&nbsp;&nbsp;1.88 | 0.61 | 0.58 | 3.72 | 5378 | 114 |
| 12-31-2023 | 11.45 | 0.39 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.67 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.38) | 11.74 | &nbsp;&nbsp;&nbsp;6.15 | 0.61 | 0.59 | 3.40 | 5487 | 146 |
| 12-31-2022 | 13.93 | 0.33 | (2.32) | (1.99) | (0.39) | (0.10) | (0.49) | 11.45 | (14.16) | 0.61 | 0.58 | 2.61 | 5411 | 120 |
| 12-31-2021 | 14.58 | 0.28 | (0.45) | (0.17) | (0.41) | (0.07) | (0.48) | 13.93 | &nbsp;&nbsp;(1.15) | 0.60 | 0.57 | 1.98 | 7199 | 132 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 11.38 | 0.35 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.58 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | 11.75 | &nbsp;&nbsp;&nbsp;5.14 | 0.71 | 0.70 | 3.01 | &nbsp;&nbsp;&nbsp;&nbsp;20 | 487 |
| 12-31-2024 | 11.18 | 0.30 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;0.30 | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.10) | 11.38 | &nbsp;&nbsp;&nbsp;2.66 | 0.73 | 0.72 | 2.65 | &nbsp;&nbsp;&nbsp;&nbsp;23 | 185 |
| 12-31-2023 | 10.94 | 0.20 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.42 | (0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.18) | 11.18 | &nbsp;&nbsp;&nbsp;3.92 | 0.73 | 0.72 | 1.77 | &nbsp;&nbsp;&nbsp;&nbsp;24 | 108 |
| 12-31-2022 | 11.88 | 0.12 | (0.89) | (0.77) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 10.94 | &nbsp;&nbsp;(6.48) | 0.72 | 0.71 | 1.10 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.29 | 0.13 | (0.32) | (0.19) | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.88 | &nbsp;&nbsp;(1.59) | 0.70 | 0.69 | 1.04 | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;32 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 11.38 | 0.33 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.56 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 11.75 | &nbsp;&nbsp;&nbsp;4.95 | 0.91 | 0.90 | 2.81 | &nbsp;&nbsp;&nbsp;&nbsp;15 | 487 |
| 12-31-2024 | 11.18 | 0.28 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;0.28 | (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.08) | 11.38 | &nbsp;&nbsp;&nbsp;2.48 | 0.93 | 0.92 | 2.46 | &nbsp;&nbsp;&nbsp;&nbsp;15 | 185 |
| 12-31-2023 | 10.95 | 0.17 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.39 | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | 11.18 | &nbsp;&nbsp;&nbsp;3.63 | 0.93 | 0.92 | 1.57 | &nbsp;&nbsp;&nbsp;&nbsp;15 | 108 |
| 12-31-2022 | 11.89 | 0.10 | (0.89) | (0.79) | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | 10.95 | &nbsp;&nbsp;(6.67) | 0.92 | 0.91 | 0.89 | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.30 | 0.10 | (0.32) | (0.22) | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 11.89 | &nbsp;&nbsp;(1.78) | 0.90 | 0.89 | 0.84 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;32 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 11.38 | 0.36 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.58 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.74 | &nbsp;&nbsp;&nbsp;5.09 | 0.66 | 0.65 | 3.06 | &nbsp;&nbsp;&nbsp;208 | 487 |
| 12-31-2024 | 11.17 | 0.31 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;0.31 | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.10) | 11.38 | &nbsp;&nbsp;&nbsp;2.80 | 0.68 | 0.67 | 2.70 | &nbsp;&nbsp;&nbsp;121 | 185 |
| 12-31-2023 | 10.94 | 0.20 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.42 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 11.17 | &nbsp;&nbsp;&nbsp;3.87 | 0.68 | 0.67 | 1.83 | &nbsp;&nbsp;&nbsp;131 | 108 |
| 12-31-2022 | 11.88 | 0.13 | (0.90) | (0.77) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 10.94 | &nbsp;&nbsp;(6.43) | 0.67 | 0.66 | 1.15 | &nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.29 | 0.13 | (0.32) | (0.19) | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.88 | &nbsp;&nbsp;(1.54) | 0.65 | 0.64 | 1.09 | &nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;32 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 133 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 12.66 | 0.60 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;0.95 | (1.07) |  | (1.07) | 12.54 | &nbsp;&nbsp;&nbsp;7.51 | 0.81 | 0.80 | 4.54 | &nbsp;&nbsp;51 | 73 |
| 12-31-2024 | 12.62 | 0.53 | (0.14) | &nbsp;&nbsp;0.39 | (0.35) |  | (0.35) | 12.66 | &nbsp;&nbsp;&nbsp;3.10 | 0.79 | 0.78 | 4.15 | 222 | 46 |
| 12-31-2023 | 12.18 | 0.46 | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;0.88 | (0.44) |  | (0.44) | 12.62 | &nbsp;&nbsp;&nbsp;7.37 | 0.80 | 0.79 | 3.71 | 234 | 39 |
| 12-31-2022 | 14.07 | 0.38 | (1.81) | (1.43) | (0.46) |  | (0.46) | 12.18 | (10.06) | 0.78 | 0.77 | 2.97 | 238 | 48 |
| 12-31-2021 | 14.44 | 0.37 | (0.25) | &nbsp;&nbsp;0.12 | (0.49) |  | (0.49) | 14.07 | &nbsp;&nbsp;&nbsp;0.90 | 0.76 | 0.75 | 2.56 | 301 | 61 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 12.70 | 0.57 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;0.91 | (1.04) |  | (1.04) | 12.57 | &nbsp;&nbsp;&nbsp;7.22 | 1.01 | 1.00 | 4.45 | &nbsp;&nbsp;78 | 73 |
| 12-31-2024 | 12.66 | 0.51 | (0.14) | &nbsp;&nbsp;0.37 | (0.33) |  | (0.33) | 12.70 | &nbsp;&nbsp;&nbsp;2.91 | 0.99 | 0.98 | 3.97 | &nbsp;&nbsp;69 | 46 |
| 12-31-2023 | 12.22 | 0.44 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;0.85 | (0.41) |  | (0.41) | 12.66 | &nbsp;&nbsp;&nbsp;7.23 | 1.00 | 0.99 | 3.52 | &nbsp;&nbsp;58 | 39 |
| 12-31-2022 | 14.11 | 0.36 | (1.82) | (1.46) | (0.43) |  | (0.43) | 12.22 | (10.30) | 0.98 | 0.97 | 2.80 | &nbsp;&nbsp;52 | 48 |
| 12-31-2021 | 14.47 | 0.34 | (0.24) | &nbsp;&nbsp;0.10 | (0.46) |  | (0.46) | 14.11 | &nbsp;&nbsp;&nbsp;0.70 | 0.96 | 0.95 | 2.36 | &nbsp;&nbsp;51 | 61 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 12.62 | 0.60 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;0.94 | (1.07) |  | (1.07) | 12.49 | &nbsp;&nbsp;&nbsp;7.51 | 0.76 | 0.75 | 4.65 | 134 | 73 |
| 12-31-2024 | 12.58 | 0.54 | (0.14) | &nbsp;&nbsp;0.40 | (0.36) |  | (0.36) | 12.62 | &nbsp;&nbsp;&nbsp;3.16 | 0.74 | 0.73 | 4.23 | 137 | 46 |
| 12-31-2023 | 12.14 | 0.47 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;0.88 | (0.44) |  | (0.44) | 12.58 | &nbsp;&nbsp;&nbsp;7.53 | 0.75 | 0.74 | 3.77 | &nbsp;&nbsp;93 | 39 |
| 12-31-2022 | 14.03 | 0.39 | (1.82) | (1.43) | (0.46) |  | (0.46) | 12.14 | (10.05) | 0.73 | 0.72 | 3.03 | &nbsp;&nbsp;84 | 48 |
| 12-31-2021 | 14.39 | 0.38 | (0.24) | &nbsp;&nbsp;0.14 | (0.50) |  | (0.50) | 14.03 | &nbsp;&nbsp;&nbsp;0.95 | 0.71 | 0.70 | 2.61 | &nbsp;&nbsp;96 | 61 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | &nbsp;&nbsp;8.81 | 0.34 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.61 | (0.34) |  | (0.34) | &nbsp;&nbsp;9.08 | &nbsp;&nbsp;&nbsp;6.86 | 0.57 | 0.30 | 3.77 | 361 | 55 |
| 12-31-2024 | &nbsp;&nbsp;8.99 | 0.31 | (0.22) | &nbsp;&nbsp;0.09 | (0.27) |  | (0.27) | &nbsp;&nbsp;8.81 | &nbsp;&nbsp;&nbsp;0.99 | 0.57 | 0.30 | 3.41 | 326 | 29 |
| 12-31-2023 | &nbsp;&nbsp;8.78 | 0.27 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.45 | (0.24) |  | (0.24) | &nbsp;&nbsp;8.99 | &nbsp;&nbsp;&nbsp;5.35 | 0.57 | 0.30 | 3.08 | 299 | 10 |
| 12-31-2022 | 10.45 | 0.22 | (1.64) | (1.42) | (0.25) |  | (0.25) | &nbsp;&nbsp;8.78 | (13.49) | 0.57 | 0.30 | 2.29 | 271 | 38 |
| 12-31-2021 | 10.89 | 0.17 | (0.37) | (0.20) | (0.24) |  | (0.24) | 10.45 | &nbsp;&nbsp;(1.81) | 0.57 | 0.30 | 1.58 | 336 | 32 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | &nbsp;&nbsp;8.82 | 0.32 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.59 | (0.32) |  | (0.32) | &nbsp;&nbsp;9.09 | &nbsp;&nbsp;&nbsp;6.67 | 0.77 | 0.50 | 3.57 | &nbsp;&nbsp;42 | 55 |
| 12-31-2024 | &nbsp;&nbsp;9.00 | 0.29 | (0.21) | &nbsp;&nbsp;0.08 | (0.26) |  | (0.26) | &nbsp;&nbsp;8.82 | &nbsp;&nbsp;&nbsp;0.80 | 0.77 | 0.50 | 3.20 | &nbsp;&nbsp;42 | 29 |
| 12-31-2023 | &nbsp;&nbsp;8.80 | 0.26 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.42 | (0.22) |  | (0.22) | &nbsp;&nbsp;9.00 | &nbsp;&nbsp;&nbsp;5.02 | 0.77 | 0.50 | 2.88 | &nbsp;&nbsp;48 | 10 |
| 12-31-2022 | 10.46 | 0.20 | (1.63) | (1.43) | (0.23) |  | (0.23) | &nbsp;&nbsp;8.80 | (13.58) | 0.77 | 0.50 | 2.08 | &nbsp;&nbsp;49 | 38 |
| 12-31-2021 | 10.91 | 0.15 | (0.38) | (0.23) | (0.22) |  | (0.22) | 10.46 | &nbsp;&nbsp;(2.10) | 0.77 | 0.50 | 1.38 | &nbsp;&nbsp;62 | 32 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | &nbsp;&nbsp;8.81 | 0.35 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.61 | (0.34) |  | (0.34) | &nbsp;&nbsp;9.08 | &nbsp;&nbsp;&nbsp;6.91 | 0.52 | 0.25 | 3.83 | 676 | 55 |
| 12-31-2024 | &nbsp;&nbsp;8.98 | 0.31 | (0.20) | &nbsp;&nbsp;0.11 | (0.28) |  | (0.28) | &nbsp;&nbsp;8.81 | &nbsp;&nbsp;&nbsp;1.14 | 0.52 | 0.25 | 3.46 | 632 | 29 |
| 12-31-2023 | &nbsp;&nbsp;8.78 | 0.28 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.44 | (0.24) |  | (0.24) | &nbsp;&nbsp;8.98 | &nbsp;&nbsp;&nbsp;5.29 | 0.52 | 0.25 | 3.14 | 594 | 10 |
| 12-31-2022 | 10.44 | 0.22 | (1.62) | (1.40) | (0.26) |  | (0.26) | &nbsp;&nbsp;8.78 | (13.36) | 0.52 | 0.25 | 2.39 | 542 | 38 |
| 12-31-2021 | 10.89 | 0.17 | (0.37) | (0.20) | (0.25) |  | (0.25) | 10.44 | &nbsp;&nbsp;(1.86) | 0.52 | 0.25 | 1.62 | 350 | 32 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 134 |

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[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 11.48 | 0.47 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.49 | (0.57) |  | (0.57) | 11.40 | &nbsp;&nbsp;4.29 | 0.68 | 0.61 | 4.00 | &nbsp;&nbsp;10 | 64 |
| 12-31-2024 | 11.11 | 0.47 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.55 | (0.18) |  | (0.18) | 11.48 | &nbsp;&nbsp;4.97 | 0.68 | 0.61 | 4.18 | &nbsp;&nbsp;10 | 69 |
| 12-31-2023 | 10.93 | 0.33 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.50 | (0.32) |  | (0.32) | 11.11 | &nbsp;&nbsp;4.60 | 0.68 | 0.61 | 2.99 | &nbsp;&nbsp;12 | 41 |
| 12-31-2022 | 11.19 | 0.10 | (0.20) | (0.10) | (0.16) |  | (0.16) | 10.93 | (0.84) | 0.67 | 0.61 | 0.94 | &nbsp;&nbsp;10 | 54 |
| 12-31-2021 | 11.46 | 0.04 | (0.09) | (0.05) | (0.22) |  | (0.22) | 11.19 | (0.46) | 0.67 | 0.60 | 0.34 | &nbsp;&nbsp;11 | 47 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 11.48 | 0.44 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.46 | (0.55) |  | (0.55) | 11.39 | &nbsp;&nbsp;4.02 | 0.88 | 0.81 | 3.81 | 153 | 64 |
| 12-31-2024 | 11.11 | 0.45 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.53 | (0.16) |  | (0.16) | 11.48 | &nbsp;&nbsp;4.78 | 0.88 | 0.81 | 3.98 | 178 | 69 |
| 12-31-2023 | 10.93 | 0.31 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.48 | (0.30) |  | (0.30) | 11.11 | &nbsp;&nbsp;4.41 | 0.88 | 0.81 | 2.77 | 200 | 41 |
| 12-31-2022 | 11.19 | 0.09 | (0.21) | (0.12) | (0.14) |  | (0.14) | 10.93 | (1.04) | 0.87 | 0.81 | 0.77 | 228 | 54 |
| 12-31-2021 | 11.46 | 0.02 | (0.10) | (0.08) | (0.19) |  | (0.19) | 11.19 | (0.66) | 0.87 | 0.80 | 0.15 | 197 | 47 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 11.49 | 0.47 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.49 | (0.57) |  | (0.57) | 11.41 | &nbsp;&nbsp;4.34 | 0.63 | 0.56 | 4.06 | &nbsp;&nbsp;38 | 64 |
| 12-31-2024 | 11.12 | 0.48 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.56 | (0.19) |  | (0.19) | 11.49 | &nbsp;&nbsp;5.01 | 0.63 | 0.56 | 4.24 | &nbsp;&nbsp;37 | 69 |
| 12-31-2023 | 10.93 | 0.34 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.51 | (0.32) |  | (0.32) | 11.12 | &nbsp;&nbsp;4.74 | 0.63 | 0.56 | 3.04 | &nbsp;&nbsp;38 | 41 |
| 12-31-2022 | 11.20 | 0.11 | (0.21) | (0.10) | (0.17) |  | (0.17) | 10.93 | (0.88) | 0.62 | 0.56 | 0.97 | &nbsp;&nbsp;35 | 54 |
| 12-31-2021 | 11.47 | 0.04 | (0.09) | (0.05) | (0.22) |  | (0.22) | 11.20 | (0.41) | 0.62 | 0.55 | 0.38 | &nbsp;&nbsp;38 | 47 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 135 |

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[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Notes to financial statements

------

1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, eleven of which are presented in this report (the portfolios).

The portfolios may offer multiple classes of shares: Series I, Series II, and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor) and Manulife Financial Corporation except in the case of the Core Bond Trust, Select Bond Trust and Strategic Income Opportunities Trust. Series II and Series NAV of Core Bond Trust, Series II of Select Bond Trust and Series II and Series NAV of Strategic Income Opportunities Trust are also offered to variable insurance products of external insurance companies. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

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

In order to value the securities, the portfolios use the following valuation techniques: Debt obligations are typically valued based on 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. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts are typically valued based on the settlement price. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

Securities held by Money Market Trust are valued at amortized cost, in accordance with Rule 2a-7 under the 1940 Act, which approximates market value. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and the cost of the security to the portfolio. The portfolio seeks to maintain a constant NAV per share of $1.00, but there can be no assurance that it will be able to do so.

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

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The portfolios use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; The following is a summary of the values by input classification of the portfolios' investments as of December 31, 2025, by major security category or type:**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$284363283** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$284363283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**210379582** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210379582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**168922** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1659254** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1659254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29007095** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29007095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32569744** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32569744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37881** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$37881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**123359** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$123359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1330316** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$559639436** | &nbsp;&nbsp;&nbsp;**$1453675** | **$558147880** | &nbsp;&nbsp;&nbsp;**$37881** |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$425310547** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$425310547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10248975** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10248975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**193049056** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193049056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1023189** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**112501817** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112501817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53396221** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53396221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27107948** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27107948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$822637753** | **$27107948** | **$795529805** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$172640027** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$172640027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3470293** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3224812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$245481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**232888** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**697433** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$697433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escrow shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5722** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escrow certificates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9017464** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9017464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$186063827** | &nbsp;&nbsp;&nbsp;**$9714897** | **$176085811** | **$263119** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$136671666** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$136671666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3650908** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53871398** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53871398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**75542** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1990675** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29250699** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28835699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$415000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12160762** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12160762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5642798** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$442798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$243314448** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$442798** | **$242456650** | **$415000** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$116403** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$116403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

#### Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Investment Quality Bond Trust (continued)** | **Investment Quality Bond Trust (continued)** | **Investment Quality Bond Trust (continued)** | **Investment Quality Bond Trust (continued)** | **Investment Quality Bond Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$66** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1284646** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24323)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(24323) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7728)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7728) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1081)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1081) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$364009986** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$364009986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Agency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1229989433** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229989433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase agreement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**600675448** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600675448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$2194674867** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **$2194674867** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$38605652** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38605652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**65125429** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65125429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23135020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23135020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15733809** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15733809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4538503** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4538503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8771756** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8646756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$125000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4574559** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4574559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30643** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4386655** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4386655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange-traded funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59666** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escrow certificates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16908** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1811571** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$166790171** | **$6288128** | &nbsp;&nbsp;&nbsp;&nbsp;**$160376330** | **$125713** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sale commitments outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(25482408)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(25482408) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**68436** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$68436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**898541** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**770832** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(79454)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79454) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(961407)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(961407) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1979293)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1979293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3087619627** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3087619627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1690432127** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690432127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21722290** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21722290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**352061959** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352061959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**429812895** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429812895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

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[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Select Bond Trust (continued)** | **Select Bond Trust (continued)** | **Select Bond Trust (continued)** | **Select Bond Trust (continued)** | **Select Bond Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$42877758** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42877758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$5624526656** | **$42877758** | **$5581648898** | **—** |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$237369944** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$237369944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3850327** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**779834** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**177331** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$177331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$242177436** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$177331** | &nbsp;&nbsp;&nbsp;&nbsp;**$242000105** | **—** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3567)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3567) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$26904728** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$26904728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49898927** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49898927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**118567811** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118567811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4453474** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4453474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23735194** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23735194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13639320** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13639320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4468820** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4468820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10446581** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10446581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8393942** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8393942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$260508797** | **$18840523** | &nbsp;&nbsp;&nbsp;&nbsp;**$241668274** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$37517** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$37517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**692435** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$692435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(33212)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33212) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(720472)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(720472) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(131143)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$769331574** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$769331574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8034480** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8034480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**267669652** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267669652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3399878** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3399878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14744232** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14744232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4515253** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9453324** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9453324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1077148393** | &nbsp;&nbsp;&nbsp;**$9453324** | **$1067695069** | **—** |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$827939** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$827939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**110664264** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110664264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**452842** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**46353299** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46353299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42350582** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1232529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41118053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$200648926** | **$1232529** | **$199416397** | **—** |

---

**Repurchase agreements. The portfolios may enter into repurchase agreements. When the portfolios enter into a repurchase agreement, they receive collateral that is held in a segregated account by the portfolios' custodian, or for tri-party repurchase agreements, collateral is held at a third-party custodian bank in a segregated account for the benefit of the portfolios. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the portfolio for repurchase agreements is disclosed in the Portfolios of investments as part of the caption related to the repurchase agreement.**

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset in the Statements of assets and liabilities. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay claims resulting from close-out of the transactions.

**When-issued/delayed-delivery securities. The portfolios may purchase or sell securities on a when-issued or delayed-delivery basis, or in a "To Be Announced" (TBA) or "forward commitment" transaction, with delivery or payment to occur at a later date beyond the normal settlement period. TBA securities resulting from these transactions are included in the portfolio or in a schedule to the portfolio (Sale Commitments Outstanding). At the time a portfolio enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in its NAV. The price of such security and the date that the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues on debt securities until settlement takes place. At the time that the portfolio enters into this type of transaction, the portfolio is required to have sufficient cash and/or liquid securities to cover its commitments.** 

Certain risks may arise upon entering into when-issued or delayed-delivery securities transactions, including the potential inability of counterparties to meet the terms of their contracts, and the issuer's failure to issue the securities due to political, economic or other factors. Additionally, losses may arise due to changes in the value of the securities purchased or sold prior to settlement date.

**Term loans (Floating rate loans). The portfolios may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.** 

The portfolios' ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The portfolios' failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the portfolios' income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the portfolios and, if the portfolios' exposure to such investments is substantial, it could impair the portfolios' ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor's credit analysis of the borrower and/or term loan agents. There is greater risk that the portfolios may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.

**Inflation-indexed bonds. Inflation-indexed bonds are securities that generally have a lower coupon interest rate fixed at issuance but whose principal value is periodically adjusted based on a rate of inflation, such as the Consumer Price Index. Over the life of an inflation-indexed bond, interest is paid on the inflation adjusted principal value as described above. Increases in the principal amount of these securities are recorded as interest income. Decreases in the principal amount of these securities may reduce interest income to the extent of income previously recorded. If these decreases are in excess of income previously recorded, an adjustment to the cost of the security is made.**

**Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the portfolios may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the portfolios may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.**

**Mortgage and asset-backed securities. The portfolios may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more**

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; likely to refinance or prepay their debt before its stated maturity. This may result in the portfolios having to reinvest the proceeds in lower yielding securities, effectively reducing the portfolios' income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the portfolios' cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g., FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The portfolios are also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market's perception of the issuers and changes in interest rates.**

**Payment-in-kind bonds. The portfolios may invest in payment-in-kind bonds (PIK Bonds). PIK Bonds allow the issuer, at its option, to make current interest payments on the bonds either in cash or in additional bonds. The market prices of PIK Bonds are affected to a greater extent by interest rate changes and thereby tend to be more volatile than securities which pay cash interest periodically. Income on these securities is computed at the contractual rate specified and is added to the principal balance of the bond. This income is required to be distributed to shareholders. Because no cash is received at the time income accrues on these securities, the portfolios may need to sell other investments to make distributions.**

**Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date and reflected as realized gains. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.**

**Securities lending. The portfolios may lend their securities to earn additional income. The portfolios receive collateral from the borrower in an amount not less than the market value of the loaned securities. The portfolios may invest their cash collateral in JHCT, an affiliate of the portfolios, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a government money market fund and invests in U.S. Government securities and/or repurchase agreements. Each portfolio will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.** 

The portfolios have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the portfolios for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.

Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the portfolios could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the portfolios will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The portfolios receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the portfolios is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.

Obligations to repay collateral received by the portfolios are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the portfolios and the corresponding cash collateral received at December 31, 2025:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value of securities on loan** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cash collateral received** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$528941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$539958 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1977678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019055 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5840442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5962857 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442790 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241767 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;14257521 | &nbsp;&nbsp;&nbsp;&nbsp;14551828 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881980 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628632 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630258 |

---

**Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.**

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

**Foreign taxes. The portfolios may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the portfolios' understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the portfolios as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.**

**Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.**

**Line of credit. The portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 13, 2026 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.** 

A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on an asset-based allocation and is reflected in Other expenses on the Statements of operations. For the year ended December 31, 2025, the portfolios had no borrowings under the line of credit.

Commitment fees for the year ended December 31, 2025 were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$3067 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13072 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$30917 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2230 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283 |

---

**Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual portfolio are allocated to such portfolio. Expenses that are not readily attributable to a specific portfolio are allocated among all portfolios in an equitable manner, taking into consideration, among other things, the nature and type of expense and each portfolio's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.**

**Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.**

**Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.**

For federal income tax purposes, as of December 31, 2025, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of December 31, 2025:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$19870273 | &nbsp;&nbsp;&nbsp;&nbsp;$47789634 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53521972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85549145 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83473751 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11327101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14789879 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8681467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15106577 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380519426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477793813 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28977274 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4158319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29630811 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10666303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34600137 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6887040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21245095 |

---

As of December 31, 2025, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

For federal income tax purposes, the costs of investments owned on December 31, 2025, including short-term investments, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$571462547 | &nbsp;&nbsp;&nbsp;&nbsp;$8511942 | &nbsp;&nbsp;&nbsp;&nbsp;$(20335053) | &nbsp;&nbsp;&nbsp;&nbsp;$(11823111) |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826523063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7485488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11370798) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3885310) |

---

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[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$194538939 | &nbsp;&nbsp;&nbsp;&nbsp;$3802354 | &nbsp;&nbsp;&nbsp;&nbsp;$(12277466) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(8475112) |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255567856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3476891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14362316) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10885425) |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;2194674867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143431594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2764970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6171146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3406176) |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;5780770080 | &nbsp;&nbsp;&nbsp;&nbsp;71966330 | &nbsp;&nbsp;&nbsp;&nbsp;(228209754) | &nbsp;&nbsp;&nbsp;&nbsp;(156243424) |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244849715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2967419) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2675846) |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259584372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4342683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3573133) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769550 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;1128079660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9370214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60301481) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50931267) |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200251948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171242) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396978 |

---

**Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends from net investment income, if any, at least annually with the exception of Money Market Trust, which declares dividends daily and pays monthly from net investment income, if any. Capital gain distributions, if any, are typically distributed annually.**

The tax character of distributions for the year ended December 31, 2025 was as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$24673009 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33427638 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13299309 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9282057 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89870023 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8689546 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;233147501 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4454981 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18202968 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39268642 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9773849 |

---

The tax character of distributions for the year ended December 31, 2024 was as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$20742627 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29293861 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12730271 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7339294 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;110079875 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4622408 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;212452364 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354988 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11479673 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29987013 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3348856 |

---

Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of December 31, 2025, the components of distributable earnings on a tax basis were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Undistributed<br> Ordinary Income** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$10190331 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13431328 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12072006 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7488043 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4969 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801654 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96486781 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7228287 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9133425 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18043475 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8852226 |

---

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[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital.**

Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to straddle loss deferrals, foreign currency transactions, derivative transactions, amortization and accretion on debt securities, and wash sale loss deferrals.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The portfolios attempt to reduce their exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of their OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.

As defined by the ISDA, the portfolios may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the portfolios, if any, are held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the portfolios and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the portfolios, if any, for OTC transactions is held in a segregated account at the portfolios' custodian and is noted in the accompanying portfolio of investments, or if cash is posted, on the Statements of assets and liabilities. The portfolios' risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a portfolio than OTC transactions. The exchange or clearinghouse stands between the portfolios and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

Centrally-cleared swap contracts are subject to clearinghouse rules, including initial and variation margin requirements, daily settlement of obligations and the clearinghouse guarantee of payments to the broker. There is, however, still counterparty risk due to the potential insolvency of the broker with respect to any margin held in the brokers' customer accounts. While clearing members are required to segregate customer assets from their own assets, in the event of insolvency, there may be a shortfall in the amount of margin held by the broker for its clients. Collateral or margin requirements for centrally-cleared derivatives are set by the broker or applicable clearinghouse. Margin for centrally-cleared transactions is included in Receivable/Payable for centrally-cleared swaps in the Statements of assets and liabilities. Securities pledged by the portfolios for centrally-cleared transactions, if any, are identified in the Portfolio of investments.

**Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the portfolios to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.**

Upon entering into a futures contract, the portfolios are required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the portfolios, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the portfolios, if any, are identified in the Portfolios of investments. Subsequent payments, referred to as variation margin, are made or received by the portfolios periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the portfolios. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, the portfolios record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The following table details how the portfolios used futures contracts during the year ended December 31, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and manage duration of the portfolio. As of December 31, 2025, there were no open futures contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $14.4 million, as measured during the period |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage duration of the portfolio. As of December 31, 2025, there were no open futures contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $8.6 million |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $36.8 million to $67.9 million |

---

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[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $40.9 million to $56.5 million |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and manage duration of the portfolio. As of December 31, 2025, there were no open futures contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $150.7 million, as measured during the period |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $19.8 million |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $10.4 million to $50.0 million |

---

**Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the portfolios thereby reducing the portfolios' total return, and the potential for losses in excess of the amounts recognized on the Statements of assets and liabilities.** 

The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the portfolio as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.

The following table details how the portfolios used forward foreign currency contracts during the year ended December 31, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. As of December 31, 2025, there were no open forward contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $519,000 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;From $2.8 million to $4.4 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;From $120.4 million to $213.2 million |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to enhance potential gain/income. | &nbsp;&nbsp;&nbsp;&nbsp;From $61.1 million to $436.8 million |

---

**Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying asset at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying asset at the exercise price. Writing puts and buying calls may increase the portfolios' exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the portfolios' exposure to such changes. Risks related to the use of options include the loss of premiums on purchased options, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statements of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.** 

Purchased options are included in the Portfolio of investments and are subsequently "marked-to-market" to reflect current market value. If a purchased option expires, a portfolio realizes a loss equal to the premium paid for the option. Premiums paid for purchased options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying asset transaction to determine the realized gain (loss). Written options are included as liabilities in the Statements of assets and liabilities and are "marked-to-market" to reflect the current market value. If the written option expires, a portfolio realizes a gain equal to the premium received. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying asset transaction to determine the realized gain (loss).

The following table details how the portfolios used purchased options contracts during the year ended December 31, 2025. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates. At December 31, 2025, there were no open purchased option contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $27,000 |

---

The following table details how the portfolios used written options contracts during the year ended December 31, 2025. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to generate potential income from options premiums. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $131,000 |

---

**Swaps. Swap agreements are agreements between the portfolio and a counterparty to exchange cash flows, assets, foreign currencies or market-linked returns at specified intervals. Swap agreements are privately negotiated in the OTC market (OTC swaps) or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as a component of unrealized appreciation/depreciation of swap contracts. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.** 

Upfront payments made/received by the portfolios, if any, are amortized/accreted for financial reporting purposes, with the unamortized/unaccreted portion included in the Statement of assets and liabilities. A termination payment by the counterparty or the portfolios is recorded as realized gain or loss, as well as the net periodic payments received or paid by the portfolios.

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

**Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp; Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may provide outcomes that produce losses in excess of the amounts recognized on the Statement of assets and liabilities. Such risks involve the possibility that there will be no liquid market for the swap, or that a counterparty may default on its obligation or delay payment under the swap terms. The counterparty may disagree or contest the terms of the swap. In addition to interest rate risk, market risks may also impact the swap. The portfolios may also suffer losses if it is unable to terminate or assign outstanding swaps or reduce its exposure through offsetting transactions.**

**Interest rate swaps. Interest rate swaps represent an agreement between the portfolio and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The portfolios settles accrued net interest receivable or payable under the swap contracts at specified, future intervals.** 

The following table details how the portfolios used interest rate swaps contracts during the year ended December 31, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and to manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $4.4 million to $8.3 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and to manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $30.9 million to $52.9 million |

---

**Credit default swaps. Credit default swaps (CDS) involve the exchange of a fixed rate premium (paid by the Buyer), for protection against the loss in value of an underlying debt instrument, referenced entity or index, 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" (the Seller), receiving the premium and agreeing to contingent payments that are specified within the credit default agreement. The portfolios may enter into CDS in which it may act as either Buyer or Seller. By acting as the Seller, the portfolios may incur economic leverage since it would be obligated to pay the Buyer the notional amount of the contract in the event of a default. The amount of loss in such case could be significant, but would typically be reduced by any recovery value on the underlying credit.**

#### Credit default swaps — Buyer
The following table details how the portfolios used credit default swap contracts as the buyer during the year ended December 31, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against potential credit events. As of December 31, 2025, there were no open credit default buy contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $818,000 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against potential credit events. | &nbsp;&nbsp;&nbsp;&nbsp;From $46.6 million to $100.5 million |

---

#### Credit default swaps — Seller
Implied credit spreads are utilized in determining the market value of CDS agreements in which the portfolio is the Seller at period end. The implied credit spread generally represents the yield of the instrument above a credit-risk free rate, such as the U.S. Treasury Bond Yield, and may include upfront payments required to be made to enter into the agreement. It also serves as an indicator of the current status of the payment/performance risk and represents the likelihood or risk of default for the credit derivative. Wider credit spreads represent a deterioration of the referenced entity's creditworthiness and an increased risk of default or other credit event occurring as defined under the terms of the agreement.

For CDS agreements where implied credit spreads are not reported or available, the average credit rating on the underlying index is shown. A deterioration of the referenced entity's creditworthiness would indicate a greater likelihood of a credit event occurring and result in increasing market values, in absolute terms when compared to the notional amount of the swap. The maximum potential amount of future payments (undiscounted) that the portfolio as the Seller could be required to make under any CDS agreement equals the notional amount of the agreement.

The following table details how the portfolios used credit default swap contracts as the seller during the year ended December 31, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain credit exposure to an issuer or index. As of December 31, 2025, there were no open credit default sell contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $1.7 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain credit exposure to an issuer or index. | &nbsp;&nbsp;&nbsp;&nbsp;From $400,000 to $990,000 |

---

**Inflation swaps. In an inflation swap, one party pays a fixed rate on a notional principal amount while the other party pays a floating rate linked to an inflation index on that same notional amount. The party paying the floating rate pays the inflation adjusted rate multiplied by the notional principal amount. If the average inflation rate over the term of the swap is the same as the fixed rate of the swap, the two legs will have the same value and the swap will break even.** 

The following table details how the portfolios used inflation swaps during the year ended December 31, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage exposure to inflation risk. | &nbsp;&nbsp;&nbsp;&nbsp;From $1.9 million to $15.0 million |

---

**Total Return Swaps. The portfolios may enter into total return swap contracts to obtain synthetic exposure to a specific reference asset or index without owning, taking physical custody of, or short selling the underlying assets. Total return swaps are commitments where one party pays a fixed or variable rate premium (the Buyer) in exchange for a market-linked return (the Seller). The Seller pays the total return of a specific reference asset or index and in return receives interest payments from the Buyer. To the extent the total return of the underlying asset or index exceeds or falls short of the offsetting interest rate obligation, the Buyer will receive or make a payment to the Seller. A portfolio may enter into total return swaps in which it may act as either the Buyer or the Seller. Total return swap contracts are subject to the risk associated with the investment in the underlying reference asset or index. The risk in the case of short total return swap contracts is unlimited based on the potential for unlimited increases in the market value of the underlying reference asset or index.**

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

**Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp; The following table details how the portfolios used total return swaps during the year ended December 31, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:**

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain exposure to a security or market without investing directly in such security or market and to exchange the risk/return of one market with another. | &nbsp;&nbsp;&nbsp;&nbsp;From $20.1 million to $33.1 million |

---

#### Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the portfolios at December 31, 2025 by risk category:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Statements of<br> assets and<br> liabilities location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$116403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(24323) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7728) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1081) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1401115** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(33132)** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$68436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(79454) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(961407) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1432038) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;Total return swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(232418) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(274998) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;Inflation swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39839) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1737809** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3020154)** |
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3567) |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$37517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(33212) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(720472) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131143) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$729952** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(884827)** |

---

<sup>1</sup> Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

<sup>2</sup> Reflects cumulative value of swap contracts. Receivable/payable for centrally cleared swaps, which includes value and margin, are shown separately on the Statements of assets and liabilities.

For financial reporting purposes, the portfolios do not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statements of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the portfolio and the applicable counterparty.

The tables below reflect the portfolios' exposure to OTC derivative transactions and exposure to counterparties subject to an ISDA:

---

| | | |
|:---|:---|:---|
| **OTC Financial Instruments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asset** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liability** |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$898541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(961407) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(693878) |
| **Totals** | &nbsp;&nbsp;&nbsp;&nbsp;**$1505554** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1655285)** |

---

**Opportunistic Fixed Income Trust** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Market<br> Value of<br> OTC Derivatives** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral<br> Posted by<br> Counterparty<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral Posted<br> by Portfolio<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net<br> Exposure** |
| Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;$91788 | &nbsp;&nbsp;&nbsp;&nbsp;$(97451) | &nbsp;&nbsp;&nbsp;&nbsp;$(5663) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(5663) |
| Barclays Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93456 | &nbsp;&nbsp;&nbsp;&nbsp;(108002) | &nbsp;&nbsp;&nbsp;&nbsp;(14546) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$14546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;347714 | &nbsp;&nbsp;&nbsp;&nbsp;(294973) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52741 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52741 |
| Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61280 | &nbsp;&nbsp;&nbsp;&nbsp;(142936) | &nbsp;&nbsp;&nbsp;&nbsp;(81656) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Market<br> Value of<br> OTC Derivatives** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral<br> Posted by<br> Counterparty<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral Posted<br> by Portfolio<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net<br> Exposure** |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(399017) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(150087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$150087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| HSBC Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138431) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163899) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$196474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50042 |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(248791) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78241) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46183) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36245) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street Bank and Trust Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5258) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5258) |
| **Totals** | &nbsp;&nbsp;&nbsp;&nbsp;**$1505554** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1655285)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(149731)** | &nbsp;&nbsp;&nbsp;&nbsp;**$196474** | &nbsp;&nbsp;&nbsp;&nbsp;**$438067** | &nbsp;&nbsp;&nbsp;&nbsp;**$91862** |
| <sup>1</sup> Reflects cash and/or non-cash collateral posted by the counterparty or posted by the portfolio, excluding any excess collateral amounts. | <sup>1</sup> Reflects cash and/or non-cash collateral posted by the counterparty or posted by the portfolio, excluding any excess collateral amounts. | <sup>1</sup> Reflects cash and/or non-cash collateral posted by the counterparty or posted by the portfolio, excluding any excess collateral amounts. | <sup>1</sup> Reflects cash and/or non-cash collateral posted by the counterparty or posted by the portfolio, excluding any excess collateral amounts. | <sup>1</sup> Reflects cash and/or non-cash collateral posted by the counterparty or posted by the portfolio, excluding any excess collateral amounts. | <sup>1</sup> Reflects cash and/or non-cash collateral posted by the counterparty or posted by the portfolio, excluding any excess collateral amounts. | <sup>1</sup> Reflects cash and/or non-cash collateral posted by the counterparty or posted by the portfolio, excluding any excess collateral amounts. |

---

#### Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended December 31, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Unaffiliated<br> investments and<br> foreign currency<br> transactions<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **Active Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$116610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$116610 |
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(66021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(66021) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(37815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37815) |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$78135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78135 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(66021)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(37815)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$78135** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(25701)** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(744875) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$105899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(638976) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(298948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(298948) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$(744875)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(298948)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$105899** | &nbsp;&nbsp;&nbsp;&nbsp;**$(937924)** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1736530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(814252) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$922278 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(3689690) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3689690) |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(262557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(262557) |
|  | &nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262248 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$1736530** | &nbsp;&nbsp;&nbsp;**$(3689690)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(814561)** | &nbsp;&nbsp;&nbsp;**$(2767721)** |
| **Select Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1229441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1229441 |
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(13977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(13977) |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(499804) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(499804) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$(47103) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$708889 | &nbsp;&nbsp;&nbsp;&nbsp;$215765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877551 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(47103)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(499804)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$708889** | &nbsp;&nbsp;&nbsp;**$215765** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$377747** |

---

<br> <sup>1</sup> Realized gain/loss associated with purchased options is included in this caption on the Statements of operations.

The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended December 31, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51326 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30768 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30768 |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(46528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46528) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$51326** | &nbsp;&nbsp;&nbsp;&nbsp;**$30768** | &nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$(46528)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$35566** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$(100650) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$65393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(35257) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(86063) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86063) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(100650)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(86063)** | &nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$65393** | &nbsp;&nbsp;&nbsp;&nbsp;**$(121320)** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$119730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(182630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(62900) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(731115) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(731115) |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(598564) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(598564) |
|  | &nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(200997) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200997) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$119730** | &nbsp;&nbsp;&nbsp;**$(731115)** | &nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(982191)** | &nbsp;&nbsp;&nbsp;**$(1593576)** |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3567) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3567) |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$(339097) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(339097) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(5117305) | &nbsp;&nbsp;&nbsp;&nbsp;$(27997) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5145302) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(339097)** | &nbsp;&nbsp;&nbsp;**$(5117305)** | &nbsp;&nbsp;&nbsp;**$(27997)** | &nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(5484399)** |

---

4. Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. Under an investment management agreement, the portfolios pay a daily management fee to the Advisor based on the net assets of the respective portfolio or aggregate net assets, which include the net assets of the respective portfolio and the net assets of a similar portfolio within the John Hancock group of funds complex unless otherwise noted. The annual rate for each portfolio is as follows:**

• Active Bond Trust — a) 0.60% of the first $2.5 billion of average net assets; b) 0.575% of average net assets between $2.5 billion and $5.0 billion; and c) 0.55% of the excess over $5.0 billion of average net assets.

• Core Bond Trust — a) 0.69% of the first $200 million of aggregate net assets; b) 0.64% of the next $200 million of aggregate net assets; c) 0.57% of the next $600 million of aggregate net assets; d) 0.56% of the next $1 billion of aggregate net assets; and e) 0.55% of the excess over $2 billion of aggregate net assets.

• High Yield Trust — a) 0.625% of the first $75 million of aggregate net assets; b) 0.5625% of the next $75 million of aggregate net assets; c) 0.50% of the next $350 million of aggregate net assets; d) 0.475% of the next $2 billion of aggregate net assets; and e) 0.45% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio and John Hancock High Yield Fund, a series of John Hancock Bond Trust. Prior to February 7, 2025, the annual rates were a) 0.70% of the first $500 million of aggregate net assets and b) 0.65% of the excess over $500 million of aggregate net assets.

• Investment Quality Bond Trust— a) 0.60% of the first $500 million of average net assets and b) 0.55% of the excess over $500 million of average net assets.

• Money Market Trust — a) 0.50% of the first $500 million of aggregate net assets; b) 0.425% of the next $250 million aggregate net assets; c) 0.375% of the next $250 million aggregate net assets; d) 0.35% of the next $500 million aggregate net assets; e) 0.325% of the next $500 million aggregate net assets; f) 0.30% of the next $500 million aggregate net assets; and g) 0.275% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio and John Hancock Money Market Fund, a series of John Hancock Current Interest.

• Opportunistic Fixed Income Trust — a) 0.65% of the first $1 billion of aggregate net assets and b) 0.625% of the excess over $1 billion of aggregate net assets.

• Select Bond Trust — a) 0.65% of the first $500 million of average net assets; b) 0.60% of the next $1 billion of average net assets; c) 0.575% of the next $1 billion of average net assets; d) 0.55% of the next $7.5 billion of average net assets; and e) 0.525% of the excess over $10 billion of average net assets.

• Short Term Government Income Trust— a) 0.57% of the first $250 million of average net assets and b) 0.55% of the excess over $250 million of average net assets.

• Strategic Income Opportunities Trust— 0.68% of the first $500 million of aggregate net assets; b) 0.63% of the next $3 billion of aggregate net assets; c) 0.58% of the next $4 billion of aggregate net assets; d) 0.57% of the next $4.5 billion of aggregate net assets; and e) 0.555% of the excess over $12 billion of aggregate net assets. Aggregate net assets include the net assets of the portfolio and John Hancock Strategic Income Opportunities Fund, a series of JHF II. Prior to July 1, 2025, the annual rates were a) 0.70% of the first $500 million of aggregate net assets; b) 0.65% of the next $3 billion of aggregate net assets; c) 0.60% of the next $4 billion of aggregate net assets; d) 0.59% of the next $4.5 billion of aggregate net assets; and e) 0.575% of the excess over $12 billion of aggregate net assets.

• Total Bond Market Trust — a) 0.47% of the first $1.5 billion of average net assets and b) 0.46% of the excess over $1.5 billion of average net assets.

• Ultra Short Term Bond Trust— a) 0.55% of the first $250 million of average net assets and b) 0.53% of the excess over $250 million of average net assets.

The organizations described below act as the subadvisors to the Trust and certain of its portfolios pursuant to Subadvisory Agreements with the Advisor. Portfolio management is allocated among the following subadvisors.

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

#### Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subadvisor(s)** |
| &nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Allspring Global Investments, LLC |
| &nbsp;&nbsp;&nbsp;Active Bond Trust<br> High Yield Trust<sup>2</sup> Money Market Trust<br> Select Bond Trust<br> Short Term Government Income Trust<br> Strategic Income Opportunities Trust<br> Total Bond Market Trust<br> Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Manulife Investment Management (US) LLC<sup>1</sup> |
| &nbsp;&nbsp;&nbsp;Investment Quality Bond Trust<br> Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Wellington Management Company LLP |

---

<sup>1</sup> An affiliate of the Advisor.

<sup>2</sup> Prior to February 7, 2025, the subadvisor of the portfolio was Western Asset Management Company, LLC.

The portfolios are not responsible for payment of the subadvisory fees.

**Expense reimbursements. The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the portfolios (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each portfolio. During the year ended December 31, 2025, this waiver amounted to 0.01% of the portfolios' average net assets, on an annualized basis. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.**

The Advisor has contractually agreed to waive its management fee on Money Market Trust and Total Bond Market Trust or, if necessary, make payment to the portfolios in an amount so that the annual operating expenses do not exceed 0.28% and 0.25%, respectively, of the portfolios' average net assets. This waiver includes all expenses except taxes, brokerage commissions, interest expense, short dividends, acquired fund fees, class-specific expenses, borrowing costs, prime brokerage fees, litigation and indemnification expenses and extraordinary expenses not incurred in the ordinary course of the portfolio's business. This agreement expires on April 30, 2026, unless renewed by mutual agreement of the Advisor and the portfolio based upon a determination that this is appropriate under the circumstances at that time.

The Advisor voluntarily agreed to waive a portion of its management fee if certain expenses of the portfolios exceed 0.15% of average net assets for each of the portfolios with the exception of Total Bond Market Trust. Expenses excluded from this waiver are taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, management fees, Rule 12b-1 fees, underlying fund expenses and short dividends. This expense reduction will continue in effect until terminated by the Advisor.

The Advisor has voluntarily agreed to waive its management fees by 0.02% of the average daily net assets of Opportunistic Fixed Income Trust and Select Bond Trust. These voluntary advisory fee waivers may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive its management fees by 0.06% of the average daily net assets of Ultra Short Term Bond Trust. This voluntary advisory fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive and/or reimburse all class-specific expenses for Series I and Series II shares of the Select Bond Trust to the extent they exceed 0.04% and 0.24%, respectively, of average net assets on an annualized basis attributable to the class (the class expense waiver). This voluntary class specific waiver may be terminated at any time by the Advisor upon notice to the Trust.

For the year ended December 31, 2025, the expense reductions described above amounted to the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50006 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68018 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108027 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18206 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;1754391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591870 | &nbsp;&nbsp;&nbsp;&nbsp;2392429 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201750 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50726 | &nbsp;&nbsp;&nbsp;&nbsp;135081 | &nbsp;&nbsp;&nbsp;&nbsp;1505169 | &nbsp;&nbsp;&nbsp;&nbsp;1690976 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21707 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31907 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909306 | &nbsp;&nbsp;&nbsp;&nbsp;114671 | &nbsp;&nbsp;&nbsp;&nbsp;1732162 | &nbsp;&nbsp;&nbsp;&nbsp;2756139 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6670 | &nbsp;&nbsp;&nbsp;&nbsp;119421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153192 |

---

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended December 31, 2025, were equivalent to a net annual effective rate of the portfolios' average daily net assets as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.59% |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.57% |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.45% |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.59% |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.24% |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.51% |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.54% |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.56% |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.64% |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.48% |

---

**Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the portfolios, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended December 31, 2025, amounted to an annual rate of 0.02% of the portfolios' average daily net assets.**

**Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares:**

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.15% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.35% |

---

Currently, only 0.05% for Series I shares and 0.25% for Series ll shares are charged for Rule 12b-1 fees.

Distribution and service fees for the year ended December 31, 2025 were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$12653 | &nbsp;&nbsp;&nbsp;&nbsp;$246289 | &nbsp;&nbsp;&nbsp;&nbsp;$258942 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233878 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96796 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169578 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943720 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100556 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927567 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48534 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253156 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277129 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435968 |

---

**Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.**

**Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the portfolios, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the portfolios to borrow from, or lend money to, other participating affiliated funds. At period end, open loans, if any, are presented under the caption Interfund lending receivable/payable in the Statements of assets and liabilities. Interest expense is included in Other expenses on the Statements of operations. The portfolios' activity in this program during the period for which loans were outstanding was as follows:**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Borrower<br> or Lender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Loan Balance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Days<br> Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Interest Income<br> (Expense)** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;$5000000 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;4.140% | &nbsp;&nbsp;&nbsp;&nbsp;$1725 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3181000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;4.865% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3087500 | &nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;4.754% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3262 |

---

6. Portfolio share transactions

Transactions in portfolios' shares for the years ended December 31, 2025 and 2024 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Active Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1719643 | &nbsp;&nbsp;&nbsp;&nbsp;399511 | &nbsp;&nbsp;&nbsp;&nbsp;$3305123 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101311 | &nbsp;&nbsp;&nbsp;&nbsp;119385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978956 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(494176) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4136646) | &nbsp;&nbsp;&nbsp;&nbsp;(594682) | &nbsp;&nbsp;&nbsp;&nbsp;(4909590) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(157644)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1315692)** | &nbsp;&nbsp;&nbsp;&nbsp;**(75786)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(625511)** |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

#### Portfolio share transactions, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Active Bond Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1192860 | &nbsp;&nbsp;&nbsp;&nbsp;$10144143 | &nbsp;&nbsp;&nbsp;&nbsp;1216279 | &nbsp;&nbsp;&nbsp;&nbsp;$10069341 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3626047 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2043566) | &nbsp;&nbsp;&nbsp;&nbsp;(17145537) | &nbsp;&nbsp;&nbsp;&nbsp;(2052643) | &nbsp;&nbsp;&nbsp;&nbsp;(17089470) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(344075)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2760888)** | &nbsp;&nbsp;&nbsp;&nbsp;**(395239)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3394082)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1172095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9880612 | &nbsp;&nbsp;&nbsp;&nbsp;1632737 | &nbsp;&nbsp;&nbsp;&nbsp;$13541022 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;2312344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19331192 | &nbsp;&nbsp;&nbsp;&nbsp;1965606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16137624 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3098457) | &nbsp;&nbsp;&nbsp;&nbsp;(25969421) | &nbsp;&nbsp;&nbsp;&nbsp;(2780433) | &nbsp;&nbsp;&nbsp;&nbsp;(23091303) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**385982** | &nbsp;&nbsp;&nbsp;&nbsp;**$3242383** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**817910** | &nbsp;&nbsp;&nbsp;&nbsp;**$6587343** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(115737)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(834197)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**346885** | &nbsp;&nbsp;&nbsp;&nbsp;**$2567750** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Core Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3586273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7183496 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2511526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269604 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(772557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8792174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(863693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9845736) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(237241)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2694375)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19725)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(392636)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11028649 | &nbsp;&nbsp;&nbsp;&nbsp;1255516 | &nbsp;&nbsp;&nbsp;&nbsp;$14151894 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461778 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(595720) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6742125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(561408) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6325297) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**674474** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$7694729** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**914895** | &nbsp;&nbsp;&nbsp;&nbsp;**$10288375** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2722494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30988750 | &nbsp;&nbsp;&nbsp;&nbsp;2072616 | &nbsp;&nbsp;&nbsp;&nbsp;$23342035 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27507907 | &nbsp;&nbsp;&nbsp;&nbsp;2212836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24562479 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(7133948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80331814) | &nbsp;&nbsp;&nbsp;&nbsp;(3945403) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44791131) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1977126)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(21835157)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**340049** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3113383** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1539893)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(16834803)** | &nbsp;&nbsp;&nbsp;&nbsp;**1235219** | &nbsp;&nbsp;&nbsp;&nbsp;**$13009122** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2772285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1857577 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3436160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3323747 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1453943) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7106758) | &nbsp;&nbsp;&nbsp;&nbsp;(1725103) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8384700) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(166590)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(898313)** | &nbsp;&nbsp;&nbsp;&nbsp;**(641726)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3203376)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1945166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1103506 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2058235 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1086284) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5482103) | &nbsp;&nbsp;&nbsp;&nbsp;(1095146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5479250) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(292909)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1509336)** | &nbsp;&nbsp;&nbsp;&nbsp;**(453637)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2317509)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;2401648 | &nbsp;&nbsp;&nbsp;&nbsp;$11324234 | &nbsp;&nbsp;&nbsp;&nbsp;2615439 | &nbsp;&nbsp;&nbsp;&nbsp;$12327874 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1696006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7835548 | &nbsp;&nbsp;&nbsp;&nbsp;1576886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7348289 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2471933) | &nbsp;&nbsp;&nbsp;&nbsp;(11764724) | &nbsp;&nbsp;&nbsp;&nbsp;(3910202) | &nbsp;&nbsp;&nbsp;&nbsp;(18501803) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1625721** | &nbsp;&nbsp;&nbsp;&nbsp;**$7395058** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**282123** | &nbsp;&nbsp;&nbsp;&nbsp;**$1174360** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**1166222** | &nbsp;&nbsp;&nbsp;&nbsp;**$4987409** | &nbsp;&nbsp;&nbsp;&nbsp;**(813240)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4346525)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6790167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7232143 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4101302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3328599 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1759232) | &nbsp;&nbsp;&nbsp;&nbsp;(17200389) | &nbsp;&nbsp;&nbsp;&nbsp;(1367341) | &nbsp;&nbsp;&nbsp;&nbsp;(13307362) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(652765)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(6308920)** | &nbsp;&nbsp;&nbsp;&nbsp;**(273416)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2746620)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4755526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6327232 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2107265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608321 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(948312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9289140) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(849174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8262066) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(253201)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2426349)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(30397)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(326513)** |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Quality Bond Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1790233 | &nbsp;&nbsp;&nbsp;&nbsp;$17517792 | &nbsp;&nbsp;&nbsp;&nbsp;1110351 | &nbsp;&nbsp;&nbsp;&nbsp;$10726915 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2402374 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1999467) | &nbsp;&nbsp;&nbsp;&nbsp;(19342985) | &nbsp;&nbsp;&nbsp;&nbsp;(454744) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4378487) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**106644** | &nbsp;&nbsp;&nbsp;&nbsp;**$1248297** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**906639** | &nbsp;&nbsp;&nbsp;&nbsp;**$8750802** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(799322)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7486972)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**602826** | &nbsp;&nbsp;&nbsp;&nbsp;**$5677669** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Money Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;306034920 | &nbsp;&nbsp;&nbsp;&nbsp;$306034920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201180707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$201180707 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65760417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65760417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83631796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83631796 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(441581018) | &nbsp;&nbsp;&nbsp;&nbsp;(441581018) | &nbsp;&nbsp;&nbsp;&nbsp;(405487171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(405487171) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(69785681)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(69785681)** | &nbsp;&nbsp;&nbsp;&nbsp;**(120674668)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(120674668)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$107355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1036727 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434385 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9771519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9771519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12160832) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12160832) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8018938)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8018938)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8689720)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8689720)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;418216681 | &nbsp;&nbsp;&nbsp;&nbsp;$418216681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410499152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$410499152 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22464380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22464380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24013694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24013694 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(436380595) | &nbsp;&nbsp;&nbsp;&nbsp;(436380595) | &nbsp;&nbsp;&nbsp;&nbsp;(346164214) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(346164214) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4300466** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4300466** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**88348632** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$88348632** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(73504153)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(73504153)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(41015756)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(41015756)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$971951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$858067 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630357 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(234316) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2589602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(267694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2932359) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(43269)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(470220)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(130693)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1443935)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3211787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2933110 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231351 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(630385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6814117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(718707) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7668871) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(134350)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1396593)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(330591)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3504410)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9112725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8348279 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5336378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760700 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1056624) | &nbsp;&nbsp;&nbsp;&nbsp;(11696662) | &nbsp;&nbsp;&nbsp;&nbsp;(2167740) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23797967) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**248675** | &nbsp;&nbsp;&nbsp;&nbsp;**$2752441** | &nbsp;&nbsp;&nbsp;&nbsp;**(1145269)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12688988)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71056** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$885628** | &nbsp;&nbsp;&nbsp;&nbsp;**(1606553)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17637333)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Select Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9615856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11230126 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5323649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4851070 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2067620) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24570650) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1593531) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18805004) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(823421)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9631145)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(216561)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2723808)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6077893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$72562707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7832314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91858171 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13456550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12063002 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(9458958) | &nbsp;&nbsp;&nbsp;&nbsp;(112352874) | &nbsp;&nbsp;&nbsp;&nbsp;(11185954) | &nbsp;&nbsp;&nbsp;&nbsp;(132601378) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2252160)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(26333617)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2319964)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28680205)** |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Select Bond Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8989518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$107509643 | &nbsp;&nbsp;&nbsp;&nbsp;13355275 | &nbsp;&nbsp;&nbsp;&nbsp;$156271946 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18044386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214367302 | &nbsp;&nbsp;&nbsp;&nbsp;16813267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195538292 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(57579903) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(678935724) | &nbsp;&nbsp;&nbsp;&nbsp;(30949001) | &nbsp;&nbsp;&nbsp;&nbsp;(368572928) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(30545999)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(357058779)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(780459)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(16762690)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(33621580)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(393023541)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3316984)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(48166703)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4400379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2842906 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192105 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(756096) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8836877) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352711) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3984973) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(344896)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4060569)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(84761)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(949962)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3925141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5911195 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109272 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(446320) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5186801) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(531713) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6006849) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(89153)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1029335)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(516)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$13618** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;8683598 | &nbsp;&nbsp;&nbsp;&nbsp;$100400137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4030561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45274435 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3846727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053611 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1930671) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22482018) | &nbsp;&nbsp;&nbsp;&nbsp;(5196395) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58558804) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**7081707** | &nbsp;&nbsp;&nbsp;&nbsp;**$81764846** | &nbsp;&nbsp;&nbsp;&nbsp;**(1073168)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12230758)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**6647658** | &nbsp;&nbsp;&nbsp;&nbsp;**$76674942** | &nbsp;&nbsp;&nbsp;&nbsp;**(1158445)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13167102)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9551754 | &nbsp;&nbsp;&nbsp;&nbsp;1549462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19712419 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3976478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6080285 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(14517780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(190567351) | &nbsp;&nbsp;&nbsp;&nbsp;(3023104) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38450188) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(13456944)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(177039119)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(994124)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12657484)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9855933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12489717 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5878894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629545 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(459517) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5952303) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(296281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3805563) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**767613** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$9782524** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**814279** | &nbsp;&nbsp;&nbsp;&nbsp;**$10313699** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3931296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$49287874 | &nbsp;&nbsp;&nbsp;&nbsp;3583829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45847681 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8347596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3769843 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4772125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60662226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424716) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5454450) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(170339)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3026756)** | &nbsp;&nbsp;&nbsp;&nbsp;**3457596** | &nbsp;&nbsp;&nbsp;&nbsp;**$44163074** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(12859670)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(170283351)** | &nbsp;&nbsp;&nbsp;&nbsp;**3277751** | &nbsp;&nbsp;&nbsp;&nbsp;**$41819289** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;6643285 | &nbsp;&nbsp;&nbsp;&nbsp;$60317096 | &nbsp;&nbsp;&nbsp;&nbsp;6989254 | &nbsp;&nbsp;&nbsp;&nbsp;$62919372 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1376536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12526477 | &nbsp;&nbsp;&nbsp;&nbsp;1082689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9635932 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5301014) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47941341) | &nbsp;&nbsp;&nbsp;&nbsp;(4348375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38942030) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**2718807** | &nbsp;&nbsp;&nbsp;&nbsp;**$24902232** | &nbsp;&nbsp;&nbsp;&nbsp;**3723568** | &nbsp;&nbsp;&nbsp;&nbsp;**$33613274** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8113371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6165637 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1183714 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1276194) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11570571) | &nbsp;&nbsp;&nbsp;&nbsp;(1303203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11775158) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(225371)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1988953)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(489271)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4425807)** |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Total Bond Market Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;18458980 | &nbsp;&nbsp;&nbsp;&nbsp;$167480115 | &nbsp;&nbsp;&nbsp;&nbsp;6386357 | &nbsp;&nbsp;&nbsp;&nbsp;$58092975 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2777354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25273918 | &nbsp;&nbsp;&nbsp;&nbsp;2153637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19167367 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(18476893) | &nbsp;&nbsp;&nbsp;&nbsp;(167182923) | &nbsp;&nbsp;&nbsp;&nbsp;(2917780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26144785) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**2759441** | &nbsp;&nbsp;&nbsp;&nbsp;**$25571110** | &nbsp;&nbsp;&nbsp;&nbsp;**5622214** | &nbsp;&nbsp;&nbsp;&nbsp;**$51115557** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**5252877** | &nbsp;&nbsp;&nbsp;&nbsp;**$48484389** | &nbsp;&nbsp;&nbsp;&nbsp;**8856511** | &nbsp;&nbsp;&nbsp;&nbsp;**$80303024** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Ultra Short Term Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3566270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5119425 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151410 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(353724) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4101006) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(651461) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7378729) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5384)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(78069)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(186977)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2107894)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4063858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47202933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4960293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$56280443 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7462974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2607674 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(6774566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78772993) | &nbsp;&nbsp;&nbsp;&nbsp;(7667989) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86895470) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2051435)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(24107086)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2478953)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28007353)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10428514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5790424 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589772 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(895710) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10451405) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(834883) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9486127) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**166343** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1831317** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(269924)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3105931)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1890476)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(22353838)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2935854)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(33221178)** |

---

Affiliates of the Trust owned 100% of shares of the portfolios, with the exception of Core Bond Trust, Select Bond Trust and Strategic Income Opportunities Trust. For Core Bond Trust, affiliates owned 43.89% and 99.77% of Series II and Series NAV shares, respectively. For Select Bond Trust, affiliates owned 99.87% of Series II shares. For Strategic Income Opportunities Trust, affiliates owned 29.28% and 98.23% of Series II and Series NAV shares, respectively, on December 31, 2025. Such concentration of shareholders' capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the year ended December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$324972043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$168383808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$350765921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$142221374 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;1258416182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593974206 | &nbsp;&nbsp;&nbsp;&nbsp;1260813489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615814439 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255987337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254442656 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25322287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91725625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16596079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109826126 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11524635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240501265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20641412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227762210 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;4682026659 | &nbsp;&nbsp;&nbsp;&nbsp;1296776179 | &nbsp;&nbsp;&nbsp;&nbsp;4830279961 | &nbsp;&nbsp;&nbsp;&nbsp;1558503263 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;1068449411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98957991 | &nbsp;&nbsp;&nbsp;&nbsp;1026364409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59101884 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15338410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220665636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24094068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382765568 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448478550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161226684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407667375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157743057 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108518933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116797993 |

---

8. Investment in affiliated underlying funds

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| John Hancock Collateral Trust\* | 132975 | $3717413 | $125254519 | $(127637577) | $(3982) | $(57) | $186519 |  | $1330316 |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

#### Investment in affiliated underlying funds, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;201889 | &nbsp;&nbsp;$2352408 | &nbsp;&nbsp;&nbsp;&nbsp;$29486214 | &nbsp;&nbsp;&nbsp;&nbsp;$(29818944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19 | &nbsp;&nbsp;&nbsp;&nbsp;$37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7698 |  | &nbsp;&nbsp;$2019734 |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;901344 | $12262146 | &nbsp;&nbsp;&nbsp;&nbsp;$88094495 | &nbsp;&nbsp;&nbsp;&nbsp;$(91339606) | &nbsp;&nbsp;&nbsp;&nbsp;$584 | &nbsp;&nbsp;$(394) | &nbsp;&nbsp;&nbsp;$134336 |  | &nbsp;&nbsp;$9017225 |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;44261 | &nbsp;&nbsp;&nbsp;&nbsp;$209385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7457567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(7224133) | &nbsp;&nbsp;&nbsp;&nbsp;$(12) | &nbsp;&nbsp;&nbsp;&nbsp;$(9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2102 |  | &nbsp;&nbsp;&nbsp;&nbsp;$442798 |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;124086 | &nbsp;&nbsp;$2067770 | &nbsp;&nbsp;&nbsp;&nbsp;$74751688 | &nbsp;&nbsp;&nbsp;&nbsp;$(75577250) | &nbsp;&nbsp;&nbsp;&nbsp;$(806) | &nbsp;&nbsp;&nbsp;&nbsp;$(18) | &nbsp;&nbsp;&nbsp;&nbsp;$33820 |  | &nbsp;&nbsp;$1241384 |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| John Hancock Collateral Trust\* | 4285976 | $32684463 | $1290151428 | $(1279992160) | $32911 | $1116 | $2490278 |  | $42877758 |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;17726 | &nbsp;&nbsp;$2158408 | &nbsp;&nbsp;&nbsp;$218179299 | &nbsp;&nbsp;&nbsp;$(220162912) | &nbsp;&nbsp;$2535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1 | &nbsp;&nbsp;&nbsp;&nbsp;$99126 |  | &nbsp;&nbsp;&nbsp;&nbsp;$177331 |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;839042 | $11224211 | &nbsp;&nbsp;&nbsp;$161420486 | &nbsp;&nbsp;&nbsp;$(164251257) | &nbsp;&nbsp;&nbsp;&nbsp;$584 | &nbsp;&nbsp;&nbsp;&nbsp;$(82) | &nbsp;&nbsp;&nbsp;$293079 |  | &nbsp;&nbsp;$8393942 |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;944936 | &nbsp;&nbsp;$9802503 | &nbsp;&nbsp;&nbsp;$294105973 | &nbsp;&nbsp;&nbsp;$(294454970) | &nbsp;&nbsp;&nbsp;&nbsp;$(159) | &nbsp;&nbsp;&nbsp;&nbsp;$(23) | &nbsp;&nbsp;&nbsp;$309345 |  | &nbsp;&nbsp;$9453324 |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;123201 | &nbsp;&nbsp;&nbsp;&nbsp;$270479 | &nbsp;&nbsp;&nbsp;$187498450 | &nbsp;&nbsp;&nbsp;$(186536724) | &nbsp;&nbsp;&nbsp;&nbsp;$311 | &nbsp;&nbsp;&nbsp;&nbsp;$13 | &nbsp;&nbsp;&nbsp;$147039 |  | &nbsp;&nbsp;$1232529 |

---

\* Refer to the Securities lending note within Note 2 for details regarding this investment.

9. Investment by affiliated funds

Certain investors in the portfolios are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the portfolios for the purpose of exercising management or control; however, this investment may represent a significant portion of the portfolios' net assets. At December 31, 2025, affiliated concentration (as a percentage of the portfolios' net assets) is as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Concentration** |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;48.0% |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;90.7% |

---

10. Restricted securities

The portfolios may hold restricted securities which are restricted as to resale and the portfolios have limited rights to registration under the Securities Act of 1933. Disposal may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. The following table summarizes the restricted securities held at December 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Issuer,<br> Description** | &nbsp;&nbsp;&nbsp;**Original<br> acquisition date** | &nbsp;&nbsp;&nbsp;**Acquisition<br> cost** | &nbsp;&nbsp;&nbsp;**Beginning<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Shares<br> purchased** | &nbsp;&nbsp;&nbsp;**Shares<br> sold** | &nbsp;&nbsp;&nbsp;**Ending<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Value as a<br> percentage of<br> net assets** | &nbsp;&nbsp;&nbsp;**Ending<br> value** |
| **High Yield Trust** |  |  |  |  |  |  |  |  |
| KCAD Holdings I, Ltd. | &nbsp;&nbsp;&nbsp;3-21-11 | &nbsp;&nbsp;&nbsp;$1353651 | &nbsp;&nbsp;&nbsp;165553563 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;165553563 | &nbsp;&nbsp;&nbsp;0.0%<sup>1</sup> | &nbsp;&nbsp;&nbsp;$166 |
| New Cotai, Inc., Class B | &nbsp;&nbsp;&nbsp;4-12-13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;**$166** |

---

<sup>1</sup> Less than 0.05%.

11. Segment reporting

The management committee of the Advisor acts as the portfolios' chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. Each portfolio represents a single operating segment, as the CODM monitors and assesses the operating results of the portfolio as a whole, and the portfolio's long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the portfolio's subadvisor. Segment assets are reflected in the Statements of assets and liabilities as "Total assets", which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statements of operations, which includes "Increase (decrease) in net assets from operations", Statements of changes in net assets, which includes "Increase (decrease) in net assets from portfolio share transactions", and Financial highlights, which includes total return and income and expense ratios.

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

John Hancock Variable Insurance Trust

------

#### Report of Independent Registered Public Accounting Firm
**To the Board of Trustees of John Hancock Variable Insurance Trust and Shareholders of Active Bond Trust, Core Bond Trust, High Yield Trust, Investment Quality Bond Trust, Money Market Trust, Opportunistic Fixed Income Trust, Select Bond Trust, Short Term Government Income Trust, Strategic Income Opportunities Trust, Total Bond Market Trust and Ultra Short Term Bond Trust**

#### Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the portfolio of investments, of Active Bond Trust, Core Bond Trust, High Yield Trust, Investment Quality Bond Trust, Money Market Trust, Opportunistic Fixed Income Trust, Select Bond Trust, Short Term Government Income Trust, Strategic Income Opportunities Trust, Total Bond Market Trust and Ultra Short Term Bond Trust (eleven of the funds constituting John Hancock Variable Insurance Trust, hereafter collectively referred to as the "Funds") as of December 31, 2025, the related statements of operations for the year ended December 31, 2025, the statements of changes in net assets for each of the two years in the period ended December 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2025, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2025 and each of the financial highlights for each of the five years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinions
These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025 by correspondence with the custodian, transfer agents, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

February 20, 2026

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder meeting

------

(Unaudited)

The portfolios held a Special Joint Meeting of Shareholders on Wednesday, November 12, 2025. The following proposal was considered by the shareholders:

#### Proposal: To elect five Trustees as members of the Board of Trustees of each of the Trusts.
THE PROPOSAL <u>PASSED</u> ON November 12, 2025.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes<br> for the nominee** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes withheld<br> from the nominee** |
| **Independent Trustees** |  |  |
| William K. Bacic | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670414595.663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26667188.714 |
| Christine L. Hurtsellers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5669231089.721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27850694.656 |
| Kenneth J. Phelan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670154966.243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26926818.134 |
| Thomas R. Wright | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670911891.149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26169893.228 |
| **Non-Independent Trustee** |  |  |
| Kristie M. Feinberg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5669183954.600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27897829.777 |

---

------

[**Table of Contents**](#JOB_JHVIT_494eda6b-0c82-4940-87b7-d5c3724fd14c_TOC)

![](img97bdf1c51.gif)

John Hancock Distributors, LLC, Member FINRA, SIPC200 Berkeley Street, Boston, MA 02116

John Hancock Variable Annuities: 800-344-1029

John Hancock Variable Life Insurance: 800-732-5543

johnhancock.com

JHTBA 12/31

2/26

1115017:12/25

------

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

------

ITEM 9. PROXY DISCLOSURE FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Information included in Item 7, if applicable.

------

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Refer to information included in Item 7.

------

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

Information included in Item 7, if applicable.

------

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

------

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

------

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

------

ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

No material changes.

------

ITEM 16. CONTROLS AND PROCEDURES.

(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b) There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

------

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

------

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable.

------

ITEM 19. EXHIBITS.

[(a)(1) Code of Ethics for Covered Officers is attached.](SOX_Code_of_Ethics-1.9.25.htm)

(a)(2) Not applicable.

[(a)(3) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.](JHVIT_KFeinberg_Fsilva.htm)

[(b) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.](JHVIT_906_Cert.htm)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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 Variable Insurance Trust

---

| | |
|:---|:---|
| By: | /s/ Kristie M. Feinberg |
|  | Kristie M. Feinberg |
|  | President, |
|  | Principal Executive Officer |
| Date: | February 20, 2026 |

---

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/ Kristie M. Feinberg |
|  | Kristie M. Feinberg |
|  | President, |
|  | Principal Executive Officer |
| Date: | February 20, 2026 |
| By: | /s/ Fernando A. Silva |
|  | Fernando A. Silva |
|  | Chief Financial Officer, |
|  | Principal Financial Officer |
| Date: | February 20, 2026 |

---

------

## Exhibit 99.906

**Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\***

In connection with the attached Report of **John Hancock Variable Insurance Trust** (the "registrant") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the registrant does hereby certify that, to the best of such officer's knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant as of, and for, the periods presented in the Report.

/s/ Kristie M. Feinberg

--------------------------------

Kristie M. Feinberg

President, Principal Executive Officer Dated: February 20, 2026

/s/ Fernando A. Silva

-------------------------------

Fernando A. Silva

Chief Financial Officer, Principal Financial Officer Dated: February 20, 2026

A signed original of this written statement, required by Section 906, has been provided to the registrant and will be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon request.

\*These certifications are being furnished solely pursuant to 18 U.S.C. Section 1350 and are not being filed as part of this Form N-CSR or as a separate disclosure document.

------

## Ex-99.Cert

<u>CERTIFICATION</u>

**I, Kristie M. Feinberg, certify that:**

1. I have reviewed this report on Form N-CSR of **John Hancock Variable Insurance Trust**;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial conditions, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: February 20, 2026

<u>/s/ Kristie M. Feinberg</u> Kristie M. Feinberg

President, Principal Executive Officer

<u>CERTIFICATION</u>

I, **Fernando A. Silva**, certify that:

1. I have reviewed this report on Form N-CSR of **John Hancock Variable Insurance Trust**;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial conditions, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: February 20, 2026

<u>/s/ Fernando A. Silva</u> Fernando A. Silva

Chief Financial Officer, Principal Financial Officer

------

## Ex-99.Code

![Image is missing](gf9pwyxajun575ecu2ka2.jpg)

**JOHN HANCOCK VARIABLE INSURANCE TRUST**

**JOHN HANCOCK FUNDS**

**JOHN HANCOCK FUNDS II**

**JOHN HANCOCK EXCHANGE-TRADED FUND TRUST**

**<u><u>S</u>ARBANES<u>-O</u>XLEY <u>C</u>ODE OF <u>E</u>THICS</u>**

**<u>FOR</u>**

**<u><u>P</u>RINCIPAL <u>E</u>XECUTIVE<u>, P</u>RINCIPAL <u>F</u>INANCIAL <u>O</u>FFICER <u>& T</u>REASURER</u>**

**I.Covered Officers/Purpose of the Code**

This code of ethics (this "Code") for John Hancock Variable Insurance Trust, John Hancock Funds[<sup>1</sup>](#divca550cbe-dbe8-4a6f-b75c-f38a98ade59f), and John Hancock Funds II, John Hancock Exchange-Traded Fund Trust and, each a registered management investment company under the Investment Company Act of 1940, as amended ("1940 Act"), which may issue shares in separate and distinct series (each investment company and series thereunder to be hereinafter referred to as a "Fund"), applies to each Fund's Principal Executive Officer ("President"), Principal Financial Officer ("Chief Financial Officer") and Treasurer ("Treasurer") (the "Covered Officers" as set forth in <u>Exhibit A</u>) for the purpose of promoting:

****honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

****full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the Fund;

****compliance with applicable laws and governmental rules and regulations;

****the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

****accountability for adherence to the Code.

1John Hancock Funds includes the following trusts: John Hancock Financial Opportunities Fund; John Hancock Bond Trust; John Hancock California Tax-Free Income Fund; John Hancock Capital Series; John Hancock Funds III; John Hancock Income Securities Trust; John Hancock Investment Trust; John Hancock Investment Trust II; John Hancock Investors Trust; John Hancock Municipal Securities Trust; John Hancock Premium Dividend Fund ; John Hancock Preferred Income Fund; John Hancock Preferred Income Fund II; John Hancock Preferred Income Fund III; John Hancock Sovereign Bond Fund; John Hancock Strategic Series; John Hancock Tax-Advantaged Dividend Income Fund; John Hancock Tax-Advantaged Global Shareholder Yield Fund; John Hancock Hedged Equity and Income Fund; and John Hancock Collateral Trust.

Each of the Covered Officers should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II.Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest Overview**

A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his service to, the Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with the Fund. Certain conflicts of interest arise out of the relationships between the Covered Officers and the Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended (the "Investment Company Act") and the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as "affiliated persons" of the Fund. Each of the Covered Officers is an officer or employee of the investment adviser or a service provider ("Service Provider") to the Fund. The Fund's, the investment adviser's and the Service Provider's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Fund and the investment adviser and the Service Provider of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Fund, for the investment adviser or for the Service Provider), be involved in establishing policies and implementing decisions which will have different effects on the investment adviser, the Service Provider and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the investment adviser and the Service Provider and is consistent with the performance by the Covered Officers of their duties as officers of the Fund. Thus, if such participation is performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, it will be deemed to have been handled ethically. In addition, it is recognized by the Fund's Board of Trustees/Directors (the "Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by other Codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but the Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Fund.

\* \* \*

Each Covered Officer must:

****not use his/her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Fund whereby the Covered Officer would benefit personally to the detriment of the Fund;

****not cause the Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than for the benefit of the Fund; and

****not use material non-public knowledge of portfolio transactions made or contemplated for the Fund to trade personally or cause others to trade personally in contemplation of the market effect of such transactions.

Additionally, conflicts of interest may arise in other situations, the propriety of which may be discussed, if material, with the Fund's Chief Compliance Officer ("CCO"). Examples of these include:

****serve as a director/trustee on the board of any public or private company;

****the receipt of any non-nominal gifts;

****the receipt of any entertainment from any company with which the Fund has current or prospective business dealings unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety (or other formulation as the Fund already uses in another code of conduct);

****any ownership interest in, or any consulting or employment relationship with, any of the Fund's service providers, other than its investment adviser, any sub-adviser, principal underwriter, administrator or any affiliated person thereof; and

****a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Fund for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.

**III.Disclosure & Compliance**

****Each Covered Officer should familiarize himself or herself with the disclosure requirements generally applicable to the Fund;

****Each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the Fund to others, whether within or outside the Fund, including to the Fund's directors and auditors, and to governmental regulators and self- regulatory organizations;

****Each Covered Officer should, to the extent appropriate within his/her area of responsibility, consult with other officers and employees of the Fund and the Fund's adviser or any sub-adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and

****It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

IV. Reporting & Accountability

Each Covered Officer must:

****upon adoption of the Code (or thereafter as applicable, upon becoming an Covered Officer), affirm in writing to the Fund's CCO that he/she has received, read, and understands the Code;

****annually thereafter affirm to the Fund's CCO that he/she has complied with the requirements of the Code;

****not retaliate against any employee or Covered Officer or their affiliated persons for reports of potential violations that are made in good faith;

****notify the Fund's CCO promptly if he/she knows of any violation of this Code (Note: failure to do so is itself a violation of this Code); and

****report at least annually any change in his/her affiliations from the prior year.

The Fund's CCO is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any approvals or waivers sought by the Principal Executive Officer will be considered by the Fund's Board or the Compliance Committee thereof (the "Committee").

The Fund will follow these procedures in investigating and enforcing this Code:

****the Fund's CCO will take all appropriate action to investigate any potential violations reported to him/her;

****if, after such investigation, the CCO believes that no violation has occurred, the CCO is not required to take any further action;

****any matter that the CCO believes is a violation will be reported to the Board or, if applicable, Compliance Committee;

****if the Board or, if applicable, Compliance Committee concurs that a violation has occurred, the Board, either upon its determination of a violation or upon

recommendation of the Compliance Committee, if applicable, will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the Service Provider or the investment adviser or its board; or a recommendation to dismiss the Registrant's Executive Officer;

****the Board, or if applicable the Compliance Committee, will be responsible for granting waivers, as appropriate; and

****any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

**V.Other Policies & Procedures**

This Code shall be the sole code of ethics adopted by the Fund for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Fund, the Fund's adviser, any sub- adviser, principal underwriter or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Fund's and its investment adviser's codes of ethics under Rule 204A-1 under the Investment Advisers Act and Rule 17j-1 under the Investment Company Act, respectively, are separate requirements applying to the Covered Officers and others and are not part of this Code.

VI. Amendments

Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the Fund's Board, including a majority of independent directors.

VII. Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Fund's Board and its counsel, the investment adviser and the relevant Service Providers.

VIII. Internal Use

The Code is intended solely for the internal use by the Fund and does not constitute an admission, by or on behalf of the Fund, as to any fact, circumstance, or legal conclusion.

**<u>Exhibit A</u>**

**Persons Covered by this Code of Ethics**

**(As of December 31, 2025)**

**John Hancock Variable Insurance Trust**

****Principal Executive Officer and President – Kristie Feinberg

****Principal Financial Officer and Chief Financial Officer – Fernando Silva

****Treasurer – Salvatore Schiavone

**John Hancock Funds**

****Principal Executive Officer and President – Kristie Feinberg

****Principal Financial Officer and Chief Financial Officer – Fernando Silva

****Treasurer – Salvatore Schiavone

**John Hancock Funds II**

****Principal Executive Officer and President – Kristie Feinberg

****Principal Financial Officer and Chief Financial Officer – Fernando Silva

****Treasurer – Salvatore Schiavone

**John Hancock Exchange-Traded Trust**

****Principal Executive Officer and President – Kristie Feinberg

****Principal Financial Officer and Chief Financial Officer – Fernando Silva

****Treasurer – Salvatore Schiavone

------